Form 4: Goldman Sachs Director Peter Oppenheimer Receives RSU Grant

Goldman Sachs Director Peter Oppenheimer was granted 423 Restricted Stock Units for his 2025 board service and retainers.

Summary

• Peter Oppenheimer, a Director at Goldman Sachs Group Inc (GS), acquired 423 Restricted Stock Units (RSUs).
• The transaction date for this acquisition was January 16, 2026.
• These RSUs were granted as compensation for his 2025 Annual Grant for service on the Issuer's Board of Directors, fourth quarter 2025 Annual Retainer and Committee Chair Fee for Board service, and fourth quarter 2025 Annual Retainer for service on the Board of Directors of Goldman Sachs Bank USA.
• The shares underlying these RSUs will be delivered approximately 90 days after Oppenheimer's retirement from the Issuer's Board of Directors or GS Bank Board of Directors.
• Following this transaction, Oppenheimer beneficially owns 7,229 Restricted Stock Units directly.

Sentiment

Score: 6

Explanation: The filing indicates a routine compensation event for a director, which is a neutral to slightly positive signal as it reflects ongoing board service and alignment of interests. It does not contain information that would significantly alter the company's financial outlook or operational status.

Positives

• The grant of 423 Restricted Stock Units to Director Peter Oppenheimer represents ongoing compensation for his service, aligning his interests with long-term shareholder value.
• The RSUs are part of a standard compensation package for board service, indicating stability in corporate governance practices.

Future Outlook

Shares underlying the granted Restricted Stock Units are expected to be delivered approximately 90 days after the reporting person's retirement from the Issuer's Board of Directors or Goldman Sachs Bank USA Board of Directors.

Industry Context

The grant of Restricted Stock Units to a director is a common form of executive and board compensation in the financial services industry, designed to align the interests of directors with the long-term performance of the company. This practice is consistent with broader industry trends in corporate governance and compensation structures.

Comparison to Industry Standards

• The use of Restricted Stock Units (RSUs) for director compensation is a widely adopted practice across major financial institutions, including peers like JPMorgan Chase, Bank of America, and Morgan Stanley, which also utilize equity-based awards to incentivize long-term commitment and performance.
• The structure, where shares are delivered post-retirement, is a common mechanism to ensure continued engagement and alignment with shareholder interests throughout the director's tenure and beyond.

Corporate Governance

Stakeholder Impact

• Shareholders: The grant of RSUs to a director aligns the director's long-term interests with shareholder value, potentially fostering more prudent decision-making.
• Employees: No direct impact on general employees is indicated by this filing.
• Customers: No direct impact on customers is indicated by this filing.

Next Steps

• Delivery of shares underlying the Restricted Stock Units approximately 90 days after Peter Oppenheimer's retirement from the Issuer's Board of Directors or Goldman Sachs Bank USA Board of Directors.

Key Dates

Keywords

Goldman Sachs, GS, Peter Oppenheimer, Form 4, Restricted Stock Units, RSU, Director Compensation, Insider Transaction, Corporate Governance