Form 4: Lakshmi N Mittal Reports Acquisition of Goldman Sachs Restricted Stock Units

Director Lakshmi N Mittal reports the acquisition of 63 Restricted Stock Units (RSUs) of Goldman Sachs Group Inc. as part of their first quarter 2024 annual retainer.

Summary

• Lakshmi N Mittal, a director of Goldman Sachs Group Inc., filed a Form 4 on April 18, 2024, reporting a transaction.
• The transaction involved the acquisition of 63 Restricted Stock Units (RSUs) on April 16, 2024.
• These RSUs were granted as part of the reporting person's first quarter 2024 annual retainer.
• The underlying securities are shares of Goldman Sachs common stock, par value $0.01 per share.
• The shares will be delivered approximately 90 days after Mittal's retirement from the Issuer's Board of Directors.
• Following the reported transaction, Mittal beneficially owns 5,076 derivative securities.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects standard compensation practices and alignment of interests.

Positives

• The acquisition of RSUs indicates continued alignment of the director's interests with the company's performance.

Future Outlook

The shares underlying the RSUs will be delivered approximately 90 days after the retirement of the Reporting Person from the Issuer's Board of Directors.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to the market.

Comparison to Industry Standards

• The granting of restricted stock units as part of director compensation is a common practice among large financial institutions like Goldman Sachs.
• Companies such as JP Morgan Chase, Morgan Stanley, and Citigroup also utilize RSUs as part of their executive and director compensation packages to align interests with shareholders.

Stakeholder Impact

• The granting of RSUs aligns the director's interests with those of shareholders, potentially encouraging decisions that benefit the company's long-term performance.

Key Dates