10:23 AM EST, 01/17/2025 (MT Newswires) -- Goldman Sachs Group ( GS ) said in a regulatory filing Friday its board has approved to increase Chief Executive David Solomon's total annual compensation to $39 million in 2024 from $31 million in 2023.

Solomon and Chief Operating Officer John Waldron were also given restricted stock units valued at $80 million each with a five-year vesting period, the Wall Street bank added in its 8-K filing with the US Securities and Exchange Commission.

The compensations were approved because of "strong firmwide financial performance" last year, and a "significant" yearly improvement, Goldman said.

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