When The Economy Was Collapsing In 2008, Goldman Gave Its Partners 36 Million Stock Options

lloyd blankfein goldman sachs protestor

In 2008, as the economy continued to implode in the wake of the Lehman collapse, Goldman Sachs granted almost 36 million stock options to its employees, according to Dealbook and Footnoted.org. This is based on a review of the company’s filings from that time.

That number dwarfed the figure of 3.5 million stock options that were granted the previous year. And incredibly, the award came only three months after Lehman fell.

Goldmanites who received the award must be laughing.

At the time, the bank’s sha reprice was hovering a $78.78; at the close of trade Tuesday, the share price was near $175.

The options, which were supposed to be exercised in one-third installments – one in January ’10, one in January ’11, and the last in January ’12 – went primarily to Goldman’s elite pool of partners, and can’t be sold or transferred until January 2014.

According to a report by Dealbook and Footnoted, the 36 million stock options increased the partners’ stake in the bank from 8.7% to 11.2%.

Click here to read more at Footnoted >

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