Goldman Sachs Offers Director-Pay Cut to End Investor Suit (1)

Goldman Sachs Group Inc. agreed to cut pay for some board members to settle a shareholder lawsuit alleging the bank’s compensation plan was too generous.

It’s the second attempt by Goldman Sachs to settle the 2017 Delaware Chancery Court suit after a judge rejected its first offer to make corporate-governance changes related to pay plans.

Under the current offer, Goldman Sachs would limit the annual pay of non-employee directors to no more than $475,000 over the next three years and disclose the change to stockholders, according to court filings. The payment can be made in cash or restricted stock grants. ...