07:23 AM EDT, 04/01/2025 (MT Newswires) -- Goldman Sachs ( GS ) is facing mounting criticism over its $80 million bonuses for Chief Executive Officer David Solomon and President John Waldron, with Institutional Shareholder Services becoming the second proxy advisory firm to urge investors to reject the incentives at the firm's upcoming annual meeting, multiple reports said Tuesday.

In a note to clients on Monday, ISS said the bonuses lacked "rigorous, pre-set performance criteria," Bloomberg said. The "magnitude and structure" of the bonuses were concerning, Reuters reported, citing the ISS report.

Goldman Sachs' ( GS ) board has asked shareholders to approve the bonuses at a meeting scheduled for April 23, Bloomberg said. The package, consisting of restricted stock, would reward Solomon and Waldron for staying at the firm for an additional five years, according to the report.

Proxy adviser Glass Lewis said last week the rewards are "excessive," Bloomberg said.

Goldman Sachs ( GS ) did not immediately respond to MT Newswires' request for comment.