[Form 4] GOLDMAN SACHS GROUP INC Insider Trading Activity

Rhea-AI Filing Summary

Goldman Sachs Group (GS) reported an insider equity award for a board member. On 10/15/2025, the director received 74 Restricted Stock Units (RSUs) (Transaction Code A) at a stated price of $0, reflecting routine compensation for the third quarter 2025 Annual Retainer and Committee Chair Fee for service on the Issuer’s Board, and the third quarter 2025 Annual Retainer for service on the Goldman Sachs Bank USA Board.

Shares underlying these RSUs will be delivered approximately 90 days after the director’s retirement from either board, as applicable. Following this grant, the filing shows 6,806 derivative securities beneficially owned, held directly.

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^*

OPPENHEIMER PETER

(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		74		(1)	(1)	Common Stock, par value $0.01 per share	74	$0	6,806	D

Explanation of Responses:

1. Represents Restricted Stock Units ("RSUs") granted for the Reporting Person's third quarter 2025 Annual Retainer and Committee Chair Fee for service on the Issuer's Board of Directors and third 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	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 74 RSUs on 10/15/2025 as part of routine board compensation.

How many RSUs were granted and on what date?

The filing reports 74 RSUs granted on 10/15/2025.

What is the purpose of the RSU grant for GS (GS)?

The RSUs represent third quarter 2025 Annual Retainer and Committee Chair Fee for the Issuer’s Board and the GS Bank Board retainer.

When will the RSU shares be delivered?

Shares will be delivered approximately 90 days after the director’s retirement from the Issuer’s Board or the GS Bank Board.

What is the transaction code and price listed?

Transaction Code A (award). The RSUs show a stated price of $0.

How many derivative securities are beneficially owned after the grant?

The filing lists 6,806 derivative securities beneficially owned following the reported transaction.

Is the ownership direct or indirect?

The filing indicates direct ownership.