Goldman Sachs partners cut their ownership of the firm to the lowest level since 2010 by exercising options dating from the financial crisis, as the total reaped this year from such awards nears $400m.
Individuals exercised options from July 16th to August 12th that yielded $107m after covering the cost of the options and some tax withholding, the filing shows.
The conversions bring the total netted by partners this year from the 2008 options to about $390m, as the employees benefited from a doubling in the firm’s stock price since the financial crisis. The options vested over three years ended in January 2012, and shares gained through such awards couldn’t be sold until this year.
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