Goldman Sachs president receives 27,446 vested shares

Goldman Sachs president and COO John E. Waldron reported routine equity compensation activity.

Rhea-AI Filing Summary

Goldman Sachs president and COO John E. Waldron reported routine equity compensation activity. On April 28, 2026, 27,446 shares of common stock were delivered to him upon the vesting of performance-based restricted stock units granted in January 2023, without any cash paid.

In connection with this delivery, 15,178 shares were withheld to satisfy tax withholding obligations, a non-market tax-withholding disposition. After these transactions, Waldron directly held 118,536 shares of Goldman Sachs common stock. The delivered shares generally cannot be sold or transferred before January 2027.

Insider Trade Summary

27,446 shares exercised/converted

Exercise 3 txns

Insider WALDRON JOHN E.

Role President and COO

Type	Security	Shares	Price	Value
Exercise	Performance-based Restricted Stock Units	27,446	$0.00	$0.00
Exercise	Common Stock, par value $0.01 per share	27,446	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock, par value $0.01 per share	15,178	$937.81	$14.23M

Holdings After Transaction: Performance-based Restricted Stock Units — 0 contracts (Direct); Common Stock, par value $0.01 per share — 118,536 shares (Direct)

Footnotes (2)

1. F1. On April 28, 2026, shares of the Issuer's common stock underlying an award of Performance-based Restricted Stock Units ("PSUs") granted on January 26, 2023 in connection with 2022 year-end compensation were delivered to the Reporting Person without the payment of any consideration. These shares generally cannot be sold or transferred before January 2027.
2. F2. Represents shares of the Issuer's common stock withheld to satisfy withholding obligations in connection with the delivery of the common stock underlying the PSUs described in footnote 1 above.

Key Figures

Shares from PSU vesting: 27,446 shares Shares withheld for taxes: 15,178 shares at $937.81 per share Price used for tax withholding: $937.81 per share +1 more

4 metrics

Shares from PSU vesting 27,446 shares Common stock delivered April 28, 2026 from performance-based RSUs granted January 26, 2023

Shares withheld for taxes 15,178 shares at <money>$937.81</money> per share Withheld to satisfy tax obligations on April 28, 2026 PSU share delivery

Price used for tax withholding <money>$937.81</money> per share Transaction price per share for tax-withholding disposition on April 28, 2026

Direct holdings after transactions 133,714 shares Goldman Sachs common stock directly owned after April 28, 2026 transactions

Key Terms

Performance-based Restricted Stock Units, tax-withholding disposition, derivative security, withholding obligations

4 terms

Performance-based Restricted Stock Units financial

"shares of the Issuer's common stock underlying an award of Performance-based Restricted Stock Units ("PSUs") granted on January 26, 2023"

Performance-based restricted stock units are a type of employee equity award that converts into company shares only if predefined financial or operational targets are met over a set period. Think of it like a bonus check that becomes stock only when specific goals are hit; it ties pay to results, aligning managers’ incentives with shareholders. Investors care because these awards affect future share count, executive incentives, and signal how management’s success will be measured and rewarded.

tax-withholding disposition financial

"Represents shares of the Issuer's common stock withheld to satisfy withholding obligations in connection with the delivery of the common stock"

A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.

derivative security financial

"Exercise or conversion of derivative security"

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

withholding obligations financial

"withheld to satisfy withholding obligations in connection with the delivery of the common stock underlying the PSUs"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Goldman Sachs (GS) president John E. Waldron report in this Form 4 filing?

John E. Waldron reported the vesting of performance-based restricted stock units delivering 27,446 Goldman Sachs common shares. A portion of these shares was withheld to cover tax obligations, and his direct common stock holdings increased to 133,714 shares after the reported transactions.

How many Goldman Sachs shares did John E. Waldron receive from PSU vesting?

He received 27,446 shares of Goldman Sachs common stock upon the vesting of performance-based restricted stock units. These units were granted on January 26, 2023 in connection with 2022 year-end compensation and converted into common shares on April 28, 2026 without any cash consideration.

How many Goldman Sachs shares were withheld for taxes in Waldron’s Form 4?

A total of 15,178 Goldman Sachs common shares were withheld to satisfy tax withholding obligations related to the PSU share delivery. This tax-withholding disposition is not an open-market sale; it reflects shares retained by the issuer to cover Waldron’s associated tax liabilities.

What are John E. Waldron’s Goldman Sachs share holdings after these transactions?

Following the April 28, 2026 transactions, John E. Waldron directly holds 133,714 shares of Goldman Sachs common stock. This figure reflects the newly delivered shares from vested PSUs, net of the 15,178 shares withheld by the company to meet tax obligations.

Can John E. Waldron immediately sell the Goldman Sachs shares delivered from PSUs?

The filing states that the shares delivered upon PSU vesting generally cannot be sold or transferred before January 2027. This restriction applies to the common stock issued from the performance-based restricted stock units, limiting Waldron’s ability to trade those particular shares until that time.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/30/2026 - 04:05 PM EDT Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

WALDRON JOHN E.

(Last) (First) (Middle)

C/O GOLDMAN SACHS & CO. LLC

200 WEST STREET

(Street)

NEW YORK NEW YORK 10282

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
GOLDMAN SACHS GROUP INC [ GS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President and COO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/28/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, par value $0.01 per share	04/28/2026		M		27,446(1)	A	(1)	133,714	D
Common Stock, par value $0.01 per share	04/28/2026		F(2)		15,178	D(2)	$937.81	118,536	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Performance-based Restricted Stock Units	(1)	04/28/2026		M			27,446	(1)	(1)	Common Stock, par value $0.01 per share	27,446	(1)	0	D

Explanation of Responses:

1. On April 28, 2026, shares of the Issuer's common stock underlying an award of Performance-based Restricted Stock Units ("PSUs") granted on January 26, 2023 in connection with 2022 year-end compensation were delivered to the Reporting Person without the payment of any consideration. These shares generally cannot be sold or transferred before January 2027.

2. Represents shares of the Issuer's common stock withheld to satisfy withholding obligations in connection with the delivery of the common stock underlying the PSUs described in footnote 1 above.

Remarks:

	/s/ Jamie A. Greenberg, Attorney-in-fact	04/30/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)