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  4. [Form 4] GOLDMAN SACHS GROUP INC Insider Trading Activity

Goldman Sachs CAO sells GS shares up to $935.96

Goldman Sachs Group Inc. chief accounting officer Sheara J. Fredman reported a series of transactions in the company’s common stock.

Filing Impact
(Very High)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Goldman Sachs Group Inc. chief accounting officer Sheara J. Fredman reported a series of transactions in the company’s common stock. On January 23, 2026, Fredman received 530 shares at a price of $0, then executed multiple open-market sales of Goldman Sachs common stock in small blocks ranging from 10 to 875 shares each.

The reported sale prices include weighted average prices such as $917.88, $918.88, and $933.69 per share, with additional trades at $934.50 and $935.96 per share. After these transactions, Fredman directly held 10,301 shares of Goldman Sachs common stock.

Positive

  • None.

Negative

  • None.
Insider FREDMAN SHEARA J
Role Chief Accounting Officer
Sold 4,863 shs ($4.49M)
Type Security Shares Price Value
Gift Common Stock, par value $0.01 per share 530 $0.00 $0.00
Sale Common Stock, par value $0.01 per share 295 $917.88 $271K
Sale Common Stock, par value $0.01 per share 875 $918.88 $804K
Sale Common Stock, par value $0.01 per share 653 $919.83 $601K
Sale Common Stock, par value $0.01 per share 272 $920.77 $250K
Sale Common Stock, par value $0.01 per share 144 $922.04 $133K
Sale Common Stock, par value $0.01 per share 208 $923.07 $192K
Sale Common Stock, par value $0.01 per share 316 $924.15 $292K
Sale Common Stock, par value $0.01 per share 124 $925.19 $115K
Sale Common Stock, par value $0.01 per share 276 $926.23 $256K
Sale Common Stock, par value $0.01 per share 505 $927.34 $468K
Sale Common Stock, par value $0.01 per share 512 $928.18 $475K
Sale Common Stock, par value $0.01 per share 291 $929.19 $270K
Sale Common Stock, par value $0.01 per share 167 $930.22 $155K
Sale Common Stock, par value $0.01 per share 87 $931.56 $81K
Sale Common Stock, par value $0.01 per share 76 $932.71 $71K
Sale Common Stock, par value $0.01 per share 40 $933.69 $37K
Sale Common Stock, par value $0.01 per share 12 $934.50 $11K
Sale Common Stock, par value $0.01 per share 10 $935.96 $9K
Holdings After Transaction: Common Stock, par value $0.01 per share — 10,301 shares (Direct)
Footnotes (16)
  1. F1. Reflects a weighted average sale price of $917.88 per share, at prices ranging from $917.30 to $918.29 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
  2. F2. Reflects a weighted average sale price of $918.88 per share, at prices ranging from $918.37 to $919.36 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
  3. F3. Reflects a weighted average sale price of $919.83 per share, at prices ranging from $919.37 to $920.36 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
  4. F4. Reflects a weighted average sale price of $920.77 per share, at prices ranging from $920.37 to $921.28 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
  5. F5. Reflects a weighted average sale price of $922.04 per share, at prices ranging from $921.62 to $922.51 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
  6. F6. Reflects a weighted average sale price of $923.07 per share, at prices ranging from $922.68 to $923.59 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
  7. F7. Reflects a weighted average sale price of $924.15 per share, at prices ranging from $923.73 to $924.59 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
  8. F8. Reflects a weighted average sale price of $925.19 per share, at prices ranging from $924.74 to $925.64 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
  9. F9. Reflects a weighted average sale price of $926.23 per share, at prices ranging from $925.75 to $926.74 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
  10. F10. Reflects a weighted average sale price of $927.34 per share, at prices ranging from $926.78 to $927.74 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
  11. F11. Reflects a weighted average sale price of $928.18 per share, at prices ranging from $927.80 to $928.67 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
  12. F12. Reflects a weighted average sale price of $929.19 per share, at prices ranging from $928.81 to $929.80 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
  13. F13. Reflects a weighted average sale price of $930.22 per share, at prices ranging from $929.82 to $930.66 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
  14. F14. Reflects a weighted average sale price of $931.56 per share, at prices ranging from $931.34 to $931.92 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
  15. F15. Reflects a weighted average sale price of $932.71 per share, at prices ranging from $932.34 to $933.11 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
  16. F16. Reflects a weighted average sale price of $933.69 per share, at prices ranging from $933.41 to $933.91 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.

FAQ

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

Who is the insider in this GS Form 4 filing?
The insider is Sheara J. Fredman, who serves as Chief Accounting Officer of The Goldman Sachs Group, Inc. (GS).

What type of Goldman Sachs (GS) stock was traded in this Form 4?
The transactions involve Common Stock, par value $0.01 per share of The Goldman Sachs Group, Inc.

What transactions did the Goldman Sachs CAO report on January 23, 2026?
On January 23, 2026, the CAO reported a grant of 530 shares at $0 and multiple open-market sales of Goldman Sachs common stock in small blocks.

At what prices did the GS insider sales occur in this Form 4?
Reported weighted average sale prices include $917.88, $918.88, and $933.69 per share, with additional trades at $934.50 and $935.96 per share.

How many Goldman Sachs shares does the CAO hold after these transactions?
Following the reported transactions on January 23, 2026, the Chief Accounting Officer directly held 10,301 shares of Goldman Sachs common stock.

Were the GS insider transactions direct or indirect holdings?
All reported transactions are marked as direct (D) ownership, with no nature of indirect beneficial ownership disclosed in the data provided.

Does the Form 4 describe how the GS sale prices were calculated?
Yes. The footnotes state that each reported sale line reflects a weighted average sale price over a price range, and that full price breakdowns are available upon request to the reporting person.

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

Form 4 Insider Transactions: What Each Field Means →
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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*
FREDMAN SHEARA J
(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)
Chief Accounting Officer
3. Date of Earliest Transaction (Month/Day/Year)
01/23/2026
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 01/23/2026 G 530 D $0 15,164 D
Common Stock, par value $0.01 per share 01/23/2026 S 295 D $917.88(1) 14,869 D
Common Stock, par value $0.01 per share 01/23/2026 S 875 D $918.88(2) 13,994 D
Common Stock, par value $0.01 per share 01/23/2026 S 653 D $919.83(3) 13,341 D
Common Stock, par value $0.01 per share 01/23/2026 S 272 D $920.77(4) 13,069 D
Common Stock, par value $0.01 per share 01/23/2026 S 144 D $922.04(5) 12,925 D
Common Stock, par value $0.01 per share 01/23/2026 S 208 D $923.07(6) 12,717 D
Common Stock, par value $0.01 per share 01/23/2026 S 316 D $924.15(7) 12,401 D
Common Stock, par value $0.01 per share 01/23/2026 S 124 D $925.19(8) 12,277 D
Common Stock, par value $0.01 per share 01/23/2026 S 276 D $926.23(9) 12,001 D
Common Stock, par value $0.01 per share 01/23/2026 S 505 D $927.34(10) 11,496 D
Common Stock, par value $0.01 per share 01/23/2026 S 512 D $928.18(11) 10,984 D
Common Stock, par value $0.01 per share 01/23/2026 S 291 D $929.19(12) 10,693 D
Common Stock, par value $0.01 per share 01/23/2026 S 167 D $930.22(13) 10,526 D
Common Stock, par value $0.01 per share 01/23/2026 S 87 D $931.56(14) 10,439 D
Common Stock, par value $0.01 per share 01/23/2026 S 76 D $932.71(15) 10,363 D
Common Stock, par value $0.01 per share 01/23/2026 S 40 D $933.69(16) 10,323 D
Common Stock, par value $0.01 per share 01/23/2026 S 12 D $934.5 10,311 D
Common Stock, par value $0.01 per share 01/23/2026 S 10 D $935.96 10,301 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
Explanation of Responses:
1. Reflects a weighted average sale price of $917.88 per share, at prices ranging from $917.30 to $918.29 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
2. Reflects a weighted average sale price of $918.88 per share, at prices ranging from $918.37 to $919.36 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
3. Reflects a weighted average sale price of $919.83 per share, at prices ranging from $919.37 to $920.36 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
4. Reflects a weighted average sale price of $920.77 per share, at prices ranging from $920.37 to $921.28 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
5. Reflects a weighted average sale price of $922.04 per share, at prices ranging from $921.62 to $922.51 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
6. Reflects a weighted average sale price of $923.07 per share, at prices ranging from $922.68 to $923.59 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
7. Reflects a weighted average sale price of $924.15 per share, at prices ranging from $923.73 to $924.59 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
8. Reflects a weighted average sale price of $925.19 per share, at prices ranging from $924.74 to $925.64 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
9. Reflects a weighted average sale price of $926.23 per share, at prices ranging from $925.75 to $926.74 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
10. Reflects a weighted average sale price of $927.34 per share, at prices ranging from $926.78 to $927.74 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
11. Reflects a weighted average sale price of $928.18 per share, at prices ranging from $927.80 to $928.67 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
12. Reflects a weighted average sale price of $929.19 per share, at prices ranging from $928.81 to $929.80 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
13. Reflects a weighted average sale price of $930.22 per share, at prices ranging from $929.82 to $930.66 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
14. Reflects a weighted average sale price of $931.56 per share, at prices ranging from $931.34 to $931.92 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
15. Reflects a weighted average sale price of $932.71 per share, at prices ranging from $932.34 to $933.11 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
16. Reflects a weighted average sale price of $933.69 per share, at prices ranging from $933.41 to $933.91 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
Remarks:
/s/ Jamie A. Greenberg, Attorney-in-fact 01/27/2026
** 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.

Source: View Original Filing on SEC EDGAR

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