Nov 28 Goldman Sachs Group Inc Chief
Executive Lloyd Blankfein exercised company stock options that
netted about $2.8 million, joining several top executives at the
bank cashing in on options in recent days ahead of an expiry, a
regulatory filing showed.
Goldman President and Chief Operating Officer Gary Cohn and
Vice Chairman Michael Sherwood also exercised stock options that
earned Cohn about $3.6 million and Sherwood about $517,000.
On Monday, Vice Chairman and Global Head of Growth Markets
J. Michael Evans sold shares and exercised stock options that
fetched about $13.2 million.
The executives are exercising stock options granted a decade
ago that expire this month. Blankfein had already netted $3.1
million by exercising options and selling shares in October
after Goldman reported better-than-expected earnings.
Blankfein exercised 68,834 options granted 10 years ago,
which were set to expire this month, according to a filing with
the U.S. Securities and Exchange Commission (SEC) on Wednesday.
The options were exercised at a price of $78.87, and the
shares were sold at average prices ranging from $117.12 to about
$120.77, according to the filing.
The stock and option sales by the Goldman top executives
follow Goldman's completion of most of a cost-saving program
that aims to reduce annual expenses by $1.9 billion by cutting
staff and non-compensation expenses.