Bloomberg News

Goldman Sachs’s Blankfein, Cohn Take Profits on Options

November 30, 2012

Goldman Sachs Group Inc. CEO Lloyd C. Blankfein

Goldman Sachs Group Inc. Chief Executive Officer Lloyd C. Blankfein. Photographer: Scott Eells/Bloomberg

Goldman Sachs Group Inc. (GS:US) Chief Executive Officer Lloyd C. Blankfein and President Gary D. Cohn exercised more 10-year-old stock options, boosting their total gains to more than $5 million each.

David A. Viniar, 57, who is set to step down as chief financial officer in January, made $11.9 million by selling 100,000 shares yesterday for $118.77 apiece, according to a filing today. He also gave 50,000 shares to an unidentified recipient, the filing showed.

Eight executives at Goldman Sachs, including Blankfein, Cohn and Viniar, have collected more than $47.7 million by selling shares and exercising options that were granted 10 years ago at a strike price of $78.87 this month and last, according to company filings. Shares obtained by exercising options this week were sold at prices ranging from $116.65 to $121.29.

Blankfein, 58, collected $2.78 million this week exercising 68,834 options that were due to expire this month and selling the underlying shares, adding to a $3.15 million gain last month, according to filings. Cohn, 52, reaped $3.64 million exercising 90,000 options and selling the shares, adding to $1.87 million made from sales in October, the filings show.

J. Michael Evans, 55, the vice chairman who oversees Goldman Sachs’s emerging-markets business, booked $13.2 million by exercising options and selling shares, according to a Nov. 26 filing.

Sherwood’s Sales

Michael S. Sherwood, 47, the firm’s London-based vice chairman and co-head of the European business, made about $517,000 this week after converting $5.23 million in options last month. In November 2009, Sherwood made about $15.7 million exercising options on 182,860 shares.

Gregory K. Palm, 64, Goldman Sachs’s general counsel, made about $1.11 million by exercising 27,573 options this week, according to a filing Nov. 28.

In addition to his sale this week, Viniar made $2.28 million by selling 50,751 shares obtained by exercising options last month. John S. Weinberg, 55, a vice chairman and co-head of investment banking, made $1.87 million selling 41,094 shares after converting options in October, filings show.

Sarah Smith, the chief accounting officer, exercised 4,107 options and sold the underlying shares for a profit of $185,681 last month, a filing showed.

Michael DuVally, a spokesman at Goldman Sachs in New York, declined to comment on the executives’ sales.

To contact the reporter on this story: Christine Harper in New York at

To contact the editor responsible for this story: David Scheer at

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Companies Mentioned

  • GS
    (Goldman Sachs Group Inc/The)
    • $195.45 USD
    • -0.44
    • -0.23%
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