Montag Thomas K. 4

What Happened
Thomas K. Montag, a director of Goldman Sachs Group Inc. (GS), was granted 364 restricted stock units (RSUs) on January 16, 2026. The Form 4 reports the grant as a derivative award (transaction code A) at $0.00 per share (typical reporting for RSUs); no cash purchase or sale occurred at grant.

Key Details

• Transaction date: 2026-01-16 (Grant, code A) — 364 RSUs @ $0.00 per share reported.
• Filing date: Form 4 filed 2026-01-21 (appears to be one business day late under Section 16 timing rules; Form 4 is generally due within two business days).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnote: These RSUs were granted as part of the Reporting Person’s 2025 Annual Grant; underlying shares will be delivered approximately 90 days after the Reporting Person’s retirement from the Issuer’s Board of Directors.
• Instrument type: derivative (RSUs) — not an immediate transfer of common stock.

Context
RSUs are a form of deferred compensation: they represent a promise to issue shares later (subject to conditions such as retirement), so they do not reflect an immediate buy or sell decision. Such grants are routine for directors and are primarily compensation-related rather than direct signals of market sentiment.