Goldman Reduces CEO Solomon’s Pay About 30% to $25 Million (1)

Goldman Sachs Group Inc. cut Chief Executive Officer David Solomon’s compensation by about 30% to $25 million for 2022, a year in which the share price and profit tumbled and the firm retreated from a highly public effort to create a consumer bank.

The package includes a $2 million base salary and $23 million in variable compensation, with $16.1 million of that in the form of restricted stock units, according to a filing Friday.

David Solomon

Photographer: Michael Nagle/Bloomberg

The firm’s compensation committee considered factors including Goldman’s performance and how it did relative to its main rivals in determining Solomon’s pay, according to ...