[Form 4] GOLDMAN SACHS GROUP INC Insider Trading Activity

Rhea-AI Filing Summary

Goldman Sachs Group Inc. director Kevin R. Johnson received 403 restricted stock units (RSUs) on January 16, 2026. These RSUs represent part of his 2025 annual equity grant and the fourth quarter 2025 cash retainer equivalents for serving on the company’s Board of Directors and the Board of Goldman Sachs Bank USA. The RSUs carry a price of $0.00 per unit and increase his directly held derivative-based interest to 3,044 RSUs tied to Goldman Sachs common stock. The underlying shares will be delivered about 90 days after he retires from either the Goldman Sachs or GS Bank boards, aligning payout timing with the end of his board service.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider JOHNSON KEVIN R

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	403	$0.00	--

Holdings After Transaction: Restricted Stock Units — 3,044 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

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^*

JOHNSON KEVIN 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)
01/16/2026

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

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)	01/16/2026		A		403		(1)	(1)	Common Stock, par value $0.01 per share	403	$0	3,044	D

Explanation of Responses:

1. Represents Restricted Stock Units ("RSUs") granted for the Reporting Person's 2025 Annual Grant for service on the Issuer's Board of Directors, fourth quarter 2025 Annual Retainer for service on the Issuer's Board of Directors and fourth quarter 2025 Annual Retainer for service on the Board of Directors of Goldman Sachs Bank USA ("GS Bank"). 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 or GS Bank Board of Directors, as applicable.

Remarks:

	/s/ Jamie A. Greenberg, Attorney-in-fact	01/21/2026
	** 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.

FAQ

What insider transaction did Goldman Sachs (GS) report for Kevin R. Johnson?

Goldman Sachs reported that director Kevin R. Johnson received 403 restricted stock units (RSUs) on January 16, 2026 as part of his board compensation.

What do the 403 restricted stock units for GS director Kevin R. Johnson represent?

The 403 RSUs cover 2025 annual grant compensation and the fourth quarter 2025 retainers for serving on the Goldman Sachs and GS Bank boards.

When will Kevin R. Johnson receive GS common shares from these RSUs?

The common shares underlying these RSUs will be delivered approximately 90 days after his retirement from the Goldman Sachs or GS Bank boards, as applicable.

How many Goldman Sachs RSUs does Kevin R. Johnson hold after this grant?

After the reported transaction, Kevin R. Johnson beneficially owns 3,044 restricted stock units tied to Goldman Sachs common stock on a direct basis.

Was the Goldman Sachs RSU grant to Kevin R. Johnson a direct holding?

Yes. The filing shows the 403 RSUs and the total 3,044 RSUs as held with direct ownership by Kevin R. Johnson.