Monday, April 4, 2011

Goldman's (GS) Blankfein Gets Huge Pay Package Boost

Goldman Sachs (NYSE:GS) CEO Lloyd Blankfein received a big boost in his compensation package from 2009 to 2010, with the total rising from under $1 million in 2009 to over $14 million in 2010, according to a regulatory filing on Friday.

In January Goldman announced the board of directors of the company boosted his salary even more, increasing it to $2 billion for 2011. That doesn't include other compensation. They also raised the salary of other key executives to $1.85 million a year for 2011.

Concerning Blankfein and 2010, his base salary was $600,000. He also received a cash bonus of $5.4 million and stock awards of $7.65 million for the year.

He was also awarded restricted stock worth $12.6 million, a big increase from the $9 million awarded in 2009. That's not counted in the overall annual compensation package because it's paid over a period of 3 years.

Other compensation came to a little over $464,000, which included perks like car use, medical and dental coverage, among other things.

Goldman Sachs closed Friday at $160.23, gaining $1.63, or 1.03 percent.

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