Nov 26 The vice chairman of Goldman Sachs Group
Inc, J. Michael Evans, sold shares and exercised stock
options that fetched about $13.2 million, according to a
regulatory filing on Monday.
The stock and option sales by Evans comes after Goldman
completed most of a cost-saving program that aims to reduce
annual expenses by $1.9 billion by cutting staff and other
Evans exercised 65,408 options granted 10 years ago, which
were set to expire this month, and separately sold 90,000
shares, according to a filing made with the U.S. Securities and
Exchange Commission (SEC).
The options were exercised at a price of $78.87, and the
shares were sold at average prices ranging from $119.32 to
After the sales, Evans continues to own 613,284 shares of
Goldman stock, the filing showed. Goldman shares on Monday rose
0.5 percent to $120.94.
A Goldman spokesman declined to comment on the company's SEC
Goldman has set aside $10.97 billion for compensation so far
this year, a 10 percent increase from a year ago. That equates
to $336,442 per employee, up 15 percent from $292,836 per worker
during the first nine months of 2011.