NEW YORK — Goldman Sachs Group chief executive Lloyd Blankfein is getting a $9 million stock bonus for 2009. The bank said in a securities filing Friday that Blankfein will receive more than 58,000 shares of restricted stock that can’t be cashed in for five yearsand no cash.
Blankfein’s bonus reflects Wall Street’s changing pay culture. Several banks are paying CEOs restricted stock and adopting clawback provisions in response to a furor over cash bonuses paid by financial institutions that helped push the economy into a recession and then later took billions in federal bailouts:
• JPMorgan Chase said that Jamie Dimon received a $16 million stock bonus, making him the highest-paid CEO among the nation’s largest banks that have announced their pay plans.
• Morgan Stanley’s James P. Gorman received a stock bonus valued at $8.1 million for 2009. Gorman was co-president of the bank for that period. He replaced John Mack last month. Mack, who remains chairman, received no bonus for 2009 or the previous two years. The Associated Press
JPMorgan Chase chief executive Jamie Dimon
