HESS JOHN B 4

What Happened

• John B. Hess, a director of Goldman Sachs Group Inc. (GS), received a grant of 390 restricted stock units (RSUs) on 2026-01-16. The Form 4 reports an acquisition price of $0.00 (award/derivative instrument). The filing notes the actual shares underlying these RSUs will be delivered approximately 90 days after the Reporting Person’s retirement from the Issuer’s Board of Directors.

Key Details

• Transaction date: 2026-01-16; transaction code: A (award/grant/acquisition).
• Shares/units granted: 390 RSUs; acquisition price reported: $0.00.
• Shares owned after the transaction: not specified in the filing.
• Footnote: RSUs are for Hess’s 2025 annual grant and Q4 2025 retainer; underlying common stock delivered ~90 days after retirement from the board.
• Filing timing: Form filed 2026-01-21 for a 2026-01-16 grant — more than the standard two business-day Form 4 reporting window, so the filing may be late.

Context

• RSU grants are compensation awards, not open-market purchases or sales; they do not reflect an immediate cash outlay or sale and only convert to actual shares per the vesting/delivery terms noted. Such awards are routine for directors and are not direct indicators of near-term trading intent.