Goldman partners ownership at lowest level since 2010

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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.

Bloomberg News reports the partners owned 8.52% of the firm’s shares on August 13th, down from 9.45% in May, according to a regulatory filing last week.

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.

Hit the link below to access the complete Bloomberg News article:

Goldman Sachs Partners’ Ownership at Lowest Since 2010

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