[Form 4] GOLDMAN SACHS GROUP INC Insider Trading Activity

Rhea-AI Filing Summary

Goldman Sachs Group Inc. (GS) reported an insider equity award. A company director received 33 restricted stock units (RSUs) on 10/15/2025, recorded on Form 4 as an acquisition. These RSUs were granted as the director’s third quarter 2025 annual retainer.

The underlying common shares are scheduled to be delivered approximately 90 days after the director’s retirement from the Board. Following this transaction, the director beneficially owns 102 derivative securities in the form of RSUs, held directly.

Insights

Equity compensation analyst

Routine director RSU grant; administrative disclosure.

The filing records a grant of 33 RSUs to a Goldman Sachs director on 10/15/2025, designated as the third quarter 2025 annual retainer. RSUs are a form of deferred stock-based compensation.

The shares underlying these RSUs will be delivered approximately 90 days after the director retires from the Board. The report shows 102 derivative RSUs beneficially owned after the transaction, listed as held directly. Actual market impact depends on future vesting and delivery mechanics.

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
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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^*

McClure Kathleen R

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
10/15/2025

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

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
Restricted Stock Units	(1)	10/15/2025		A		33		(1)	(1)	Common Stock, par value $0.01 per share	33	$0	102	D

Explanation of Responses:

1. Represents Restricted Stock Units ("RSUs") granted for the Reporting Person's third quarter 2025 Annual Retainer. Shares of the Issuer's common stock underlying these RSUs will be delivered approximately 90 days after the retirement of the Reporting Person from the Issuer's Board of Directors.

Remarks:

	/s/ Jamie A. Greenberg, Attorney-in-fact	10/17/2025
	** 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 did Goldman Sachs (GS) disclose in this Form 4?

A director received 33 RSUs on 10/15/2025 as part of the Q3 2025 annual retainer.

When will the RSU shares for GS’s director be delivered?

Shares underlying the RSUs will be delivered approximately 90 days after the director’s retirement from the Board.

How many derivative securities does the GS director hold after this transaction?

The director beneficially owns 102 derivative securities (RSUs) following the reported transaction.

What type of securities were reported in the GS filing?

The filing reports restricted stock units (RSUs), a form of deferred equity compensation.

Was this GS director transaction a purchase or sale of common stock?

It was an RSU grant (acquisition of derivative securities), not an open-market purchase or sale of common stock.