[Form 4] GOLDMAN SACHS GROUP INC Insider Trading Activity

Rhea-AI Filing Summary

Goldman Sachs Group Inc. (GS) executive reports equity gift and holdings

An Executive Vice President of Goldman Sachs Group Inc. filed a Form 4 reporting a transaction dated 11/25/2025. The reporting person disposed of 1,265 shares of common stock in a transaction coded "G," indicating a gift, at a stated price of $0 per share. After this transaction, the executive directly owns 52,158 shares of Goldman Sachs common stock.

The filing also shows indirect ownership: 12,132 shares held by the reporting person’s spouse and 38,165 shares held through a trust for immediate family members, for which the reporting person disclaims beneficial ownership. The form is filed by one reporting person and reflects no derivative securities transactions.

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^*

ROGERS JOHN F.W.

(Last) (First) (Middle)

C/O GOLDMAN SACHS & CO. LLC

200 WEST STREET

(Street)

NEW YORK NY 10282

(City) (State) (Zip)

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

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Executive Vice President

3. Date of Earliest Transaction (Month/Day/Year)
11/25/2025

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

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

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

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	11/25/2025		G		1,265	D	$0	52,158	D
Common Stock, par value $0.01 per share								12,132	I	See footnote(1)
Common Stock, par value $0.01 per share								38,165	I	See footnote(2)

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

Explanation of Responses:

1. Held by the Reporting Person's spouse.

2. Held through a trust, the sole trustee of which is the Reporting Person's spouse and the sole beneficiaries of which are immediate family members of the Reporting Person. The Reporting Person disclaims beneficial ownership of these shares.

Remarks:

	/s/ Jamie A. Greenberg, Attorney-in-fact	11/26/2025
	** 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.

FAQ

What insider transaction did GS report in this Form 4?

An Executive Vice President of Goldman Sachs Group Inc. (GS) reported a gift of 1,265 common shares on 11/25/2025, coded as transaction type "G."

How many GS shares does the executive own directly after the reported transaction?

Following the reported gift, the executive directly owns 52,158 shares of Goldman Sachs common stock.

What indirect GS shareholdings are disclosed for the reporting person?

The filing discloses 12,132 shares held by the reporting person’s spouse and 38,165 shares held through a family trust, both reported as indirect ownership.

Does the executive disclaim beneficial ownership of any GS shares?

Yes. The reporting person disclaims beneficial ownership of shares held through a trust whose sole trustee is the spouse and whose sole beneficiaries are immediate family members.

Were any derivative securities of GS involved in this Form 4?

No. The filing’s Table II for derivative securities shows no reported acquisitions or dispositions of derivative instruments.

What does transaction code "G" mean for this GS Form 4 filing?

Transaction code "G" in a Form 4 indicates a bona fide gift of securities, in this case 1,265 shares of Goldman Sachs common stock.