Form 4: Goldman Sachs EVP Rogers Gifts Shares Under 10b5-1 Plan

Goldman Sachs Executive Vice President John F.W. Rogers reported gifting 1,265 shares of common stock under a pre-arranged Rule 10b5-1 plan.

Summary

• John F.W. Rogers, an Executive Vice President and Director at Goldman Sachs Group Inc. (GS), reported a disposition of 1,265 shares of common stock.
• The transaction, a gift (transaction code 'G') with a price of $0 per share, occurred on November 25, 2025.
• This disposition was executed pursuant to a Rule 10b5-1(c) pre-arranged plan.
• Following the transaction, Rogers directly beneficially owns 52,158 shares of common stock.
• Additionally, 12,132 shares are indirectly held by his spouse, and 38,165 shares are indirectly held through a trust for immediate family members, though Rogers disclaims beneficial ownership of the trust's shares.

Sentiment

Score: 5

Explanation: The filing reports a pre-planned gift of shares by an executive. While it reduces direct ownership, it is a common personal financial planning activity and not typically indicative of a negative outlook on the company's future, especially given the 10b5-1 plan.

Positives

• The transaction was executed under a Rule 10b5-1(c) plan, indicating a pre-planned disposition rather than a reactive sale, which often suggests a structured approach to personal financial management.

Negatives

• A disposition of shares, even as a gift, reduces the direct ownership stake of a key executive in the company.

Related Party Transactions

• Indirect holdings of 12,132 shares are held by the Reporting Person's spouse.
• Indirect holdings of 38,165 shares are held through a trust, the sole trustee of which is the Reporting Person's spouse and the sole beneficiaries of which are immediate family members of the Reporting Person.

Stakeholder Impact

• Shareholders: Minimal impact. A small reduction in direct insider ownership, but the overall beneficial ownership (including indirect) remains substantial.
• Employees, Customers, Suppliers, Creditors: No direct impact from this filing.

Key Dates

Keywords

Goldman Sachs, GS, Form 4, Insider Transaction, Stock Gift, Executive Vice President, John F.W. Rogers, Beneficial Ownership, 10b5-1 Plan