8-K
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

Form 8-K

 

   CURRENT REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

      

   Date of Report (Date of earliest event reported): April 23, 2025

Commission File Number: 001-14965

The Goldman Sachs Group, Inc.

(Exact name of registrant as specified in its charter)

 

Delaware    13-4019460

(State or other jurisdiction of

incorporation or organization)

  

(IRS Employer

Identification No.)

200 West Street, New York, N.Y.    10282
(Address of principal executive offices)    (Zip Code)

(212) 902-1000

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report.)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class    Trading
Symbol
  

Exchange

on which

registered

Common stock, par value $.01 per share    GS    NYSE
Depositary Shares, Each Representing 1/1,000th Interest in a Share of Floating Rate Non-Cumulative Preferred Stock, Series A    GS PrA    NYSE
Depositary Shares, Each Representing 1/1,000th Interest in a Share of Floating Rate Non-Cumulative Preferred Stock, Series C    GS PrC    NYSE
Depositary Shares, Each Representing 1/1,000th Interest in a Share of Floating Rate Non-Cumulative Preferred Stock, Series D    GS PrD    NYSE
5.793% Fixed-to-Floating Rate Normal Automatic Preferred Enhanced Capital Securities of Goldman Sachs Capital II    GS/43PE    NYSE
Floating Rate Normal Automatic Preferred Enhanced Capital Securities of Goldman Sachs Capital III    GS/43PF    NYSE
Medium-Term Notes, Series F, Callable Fixed and Floating Rate Notes due March 2031 of GS Finance Corp.    GS/31B    NYSE
Medium-Term Notes, Series F, Callable Fixed and Floating Rate Notes due May 2031 of GS Finance Corp.    GS/31X    NYSE

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 under the Securities Act (17 CFR 230.405) or Rule 12b-2 of the Exchange Act (17 CFR 240.12b-2).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Item 5.02  Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(e) At the Annual Meeting of Shareholders of The Goldman Sachs Group, Inc. held on April 23, 2025 (the “Annual Meeting”), our shareholders approved The Goldman Sachs Amended and Restated Stock Incentive Plan (2025) (the “2025 SIP”). The 2025 SIP replaces the Amended and Restated Stock Incentive Plan previously in effect and applies to awards granted on or after April 23, 2025.

The terms of the 2025 SIP are materially unchanged from those previously approved by shareholders, other than: (1) an extension of the term of our equity plan through our 2029 annual meeting of shareholders; and (2) administrative enhancements, including to modernize and harmonize program terms across equity documentation. For a description of the terms and conditions of the 2025 SIP, see “Summary of Material Terms of the 2025 SIP” under “Item 3. Approval of The Goldman Sachs Amended and Restated Stock Incentive Plan (2025)” in the Proxy Statement, dated and filed March 14, 2025, for the Annual Meeting, which description is incorporated herein by reference.

Item 5.07  Submission of Matters to a Vote of Security Holders.

(a)  The Annual Meeting was held on April 23, 2025.

(b)  The results of the matters submitted to a shareholder vote at the Annual Meeting were as follows:

1.  Election of Directors: Our shareholders elected the following 14 directors to each serve a one-year term expiring on the date of our 2026 annual meeting of shareholders or until his or her successor has been duly chosen and qualified.

 

     For      Against      Abstain      Broker
Non-Votes
 

Michele Burns

     221,930,459        8,802,048        643,063        35,467,368  

Mark Flaherty

     227,119,377        3,746,887        509,306        35,467,368  

Kimberley Harris

     220,123,203        10,600,292        652,075        35,467,368  

John Hess

     217,696,703        13,126,936        551,931        35,467,368  

Kevin Johnson

     225,951,054        4,902,596        521,920        35,467,368  

Ellen Kullman

     224,634,438        6,104,989        636,143        35,467,368  

KC McClure

     229,519,867        1,301,175        554,528        35,467,368  

Lakshmi Mittal

     213,558,153        17,187,333        630,084        35,467,368  

Thomas Montag

     228,489,449        2,636,441        249,680        35,467,368  

Peter Oppenheimer

     222,401,421        8,492,682        481,467        35,467,368  

David Solomon

     216,264,449        13,693,529        1,417,592        35,467,368  

Jan Tighe

     228,703,055        2,017,135        655,380        35,467,368  

David Viniar

     218,964,468        12,163,881        247,221        35,467,368  

John Waldron

     227,535,382        3,339,475        500,713        35,467,368  


2.  Advisory Vote to Approve Executive Compensation (“Say on Pay”): Our shareholders approved the advisory Say on Pay proposal.

 

For

 

Against

 

Abstain

 

Broker Non-Votes

152,718,642

  77,964,224   692,704   35,467,368

3.   Approval of the 2025 SIP: Our shareholders approved the 2025 SIP.

 

For

 

Against

 

Abstain

 

Broker Non-Votes

157,573,350

  73,179,846   622,374   35,467,368

4.   Ratification of PricewaterhouseCoopers LLP as our Independent Registered Public Accounting Firm: Our shareholders ratified the selection of PricewaterhouseCoopers LLP as our independent registered public accounting firm for the year ending December 31, 2025.

 

For

 

Against

 

Abstain

250,580,891

  15,774,110   487,937

5.   Shareholder Proposal Regarding DEI Goals in Executive Pay Incentives. Our shareholders did not approve this proposal.

 

For

 

Against

 

Abstain

 

Broker Non-Votes

3,800,556

  226,632,545   942,469   35,467,368

6.   Shareholder Proposal Regarding Racial Discrimination Audit. Our shareholders did not approve this proposal.

 

For

 

Against

 

Abstain

 

Broker Non-Votes

4,102,901

  225,168,622   2,104,047   35,467,368

7.   Shareholder Proposal Regarding Disclosure of Energy Supply Financing Ratio. Our shareholders did not approve this proposal.

 

For

 

Against

 

Abstain

 

Broker Non-Votes

34,955,259

  194,171,961   2,248,350   35,467,368


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

    THE GOLDMAN SACHS GROUP, INC.
      (Registrant)
Date: April 24, 2025     By  

/s/ Kathryn H. Ruemmler

      Name: Kathryn H. Ruemmler
      Title:   Chief Legal Officer and General Counsel