Goldman to pay partner bonuses mostly in stock-Dow Jones

NEW YORK, Jan 27 (BestGrowthStock) – Goldman Sachs Group Inc’s
(GS.N: ) partners will be paid 60 percent of their 2009 bonuses
in stock and the rest in cash, Dow Jones reported, citing a
person familiar with the situation.

The stock bonuses will vest over three years and cannot be
sold for five years, Dow Jones reported.

Goldman said last week that it set aside $16.2 billion for
compensation in 2009, well above 2008 levels but below records
set in 2007. Goldman has faced a public backlash for returning
to out-sized pay so soon after the financial crisis that led to
a taxpayer rescue of the banking industry (Read more about the banking industry recovery.).

In 2008, 953 Goldman employees made at least $1 million,
according to a report by New York Attorney General Andrew
Cuomo.

A Goldman Sachs spokesman could not immediately be reached
for comment.

Investing Tools
(Reporting by Steve Eder; Editing by Gary Hill)

Goldman to pay partner bonuses mostly in stock-Dow Jones