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(108,903 posts) Sat Jan 19, 2013, 06:26 AM Jan 2013

Goldman Raises Blankfein’s Stock Bonus 90% to $13.3 Million

http://www.bloomberg.com/news/2013-01-18/goldman-sachs-boosts-blankfein-stock-bonus-90-to-13-3-million.html

Goldman Sachs Group Inc. (GS) boosted Chief Executive Officer Lloyd C. Blankfein’s stock bonus 90 percent to $13.3 million, topping JPMorgan Chase & Co. (JPM)’s Jamie Dimon for the first time in five years, as profit climbed.

While the bank didn’t disclose Blankfein’s cash bonus, a person familiar with the payout said his total bonus was about 70 percent restricted stock and 30 percent cash, like last year. On that basis, the total would be about $19 million including $5.7 million in cash.

Pay for Blankfein, whose $69.7 million bonus for 2007 set a Wall Street record, has trailed Dimon’s since then as Goldman Sachs’s profitability lagged behind that of JPMorgan, which this week reported a third consecutive year of record profit. Dimon, 56, who leads the biggest U.S. bank by assets, had his compensation cut in half to $11.5 million because of a trading loss.

Blankfein, 58, got 94,320 restricted shares worth $13.3 million at the $141.01 closing price on Jan. 17, according to a filing from the New York-based bank. Last year, he was awarded $7 million in stock and $3 million in cash for 2011. Blankfein’s compensation also includes a $2 million salary.