HALIO CAREY 4
4 · GOLDMAN SACHS GROUP INC · Filed Jan 27, 2026
Research Summary
AI-generated summary of this filing
Goldman Sachs (GS) Global Treasurer Halio Carey Exercises RSUs, Sells Shares
What Happened
Halio Carey, Global Treasurer of Goldman Sachs (GS), had 4,034 restricted stock units (RSUs) convert into common shares on January 23, 2026. To cover tax withholding and for liquidity, 1,966 of those shares were withheld (tax withholding, F) and 1,757 shares were sold in a series of open-market transactions (S). The withholding generated $1,876,842 and the open-market sales generated approximately $1,617,531, for total proceeds of about $3.49 million. After the conversions, withholdings and sales, Carey retained 311 shares.
Key Details
- Transaction date: January 23, 2026 (reported on Form 4 filed Jan 27, 2026) — filing appears timely.
- Conversion: 4,034 RSUs converted to 4,034 shares (coded M). Footnote F1: these RSUs were awarded prior to 2025 and delivered without payment.
- Tax withholding: 1,966 shares withheld to satisfy tax obligations (code F) at $954.65 per share = $1,876,842 (F2).
- Open-market sales (total 1,757 shares; various weighted-average prices and ranges per F3–F9):
- 187 shares at weighted avg $917.78 (range $917.29–$918.25) = $171,625 (F3)
- 306 shares at weighted avg $918.81 (range $918.37–$919.20) = $281,156 (F4)
- 468 shares at weighted avg $919.91 (range $919.39–$920.38) = $430,518 (F5)
- 262 shares at weighted avg $920.73 (range $920.44–$921.31) = $241,231 (F6)
- 146 shares at weighted avg $921.93 (range $921.51–$922.46) = $134,602 (F7)
- 136 shares at weighted avg $923.02 (range $922.56–$923.45) = $125,531 (F8)
- 252 shares at weighted avg $924.08 (range $923.59–$924.43) = $232,868 (F9)
- Shares owned after the transactions: 311 shares.
- Footnotes of note: F1 (RSUs awarded prior to 2025, not related to 2025 comp); F2 (shares withheld for taxes). No 10b5-1 plan or late filing noted in the filing.
Context
This was a conversion of RSUs into shares followed by withholding for taxes and sales — effectively a cashless delivery and partial sell to cover tax and liquidity needs. Such transactions are common for RSU vesting and tax obligations and do not necessarily indicate a change in insider confidence. The filing shows no purchase activity (P) and no evidence of a trading plan; the key codes here are M (conversion/exercise), F (tax withholding) and S (open-market sales).
Insider Transaction Report
- Exercise/Conversion
Common Stock, par value $0.01 per share
[F1]2026-01-23+4,034→ 8,586 total - Tax Payment
Common Stock, par value $0.01 per share
[F2]2026-01-23$954.65/sh−1,966$1,876,842→ 6,620 total - Sale
Common Stock, par value $0.01 per share
[F3]2026-01-23$917.78/sh−187$171,625→ 6,433 total - Sale
Common Stock, par value $0.01 per share
[F4]2026-01-23$918.81/sh−306$281,156→ 6,127 total - Sale
Common Stock, par value $0.01 per share
[F5]2026-01-23$919.91/sh−468$430,518→ 5,659 total - Sale
Common Stock, par value $0.01 per share
[F6]2026-01-23$920.73/sh−262$241,231→ 5,397 total - Sale
Common Stock, par value $0.01 per share
[F7]2026-01-23$921.93/sh−146$134,602→ 5,251 total - Sale
Common Stock, par value $0.01 per share
[F8]2026-01-23$923.02/sh−136$125,531→ 5,115 total - Sale
Common Stock, par value $0.01 per share
[F9]2026-01-23$924.08/sh−252$232,868→ 4,863 total - Exercise/Conversion
Restricted Stock Units
[F1]2026-01-23−4,034→ 0 total→ Common Stock, par value $0.01 per share (4,034 underlying)
Footnotes (9)
- [F1]On January 23, 2026, shares of the Issuer's common stock underlying Restricted Stock Units ("RSUs") that had been awarded in connection with compensation prior to 2025 were delivered to the Reporting Person without the payment of any consideration. These shares are not related to 2025 compensation.
- [F2]Represents shares of the Issuer's common stock withheld to satisfy withholding obligations in connection with the delivery of the common stock underlying the RSUs described in footnote 1 above.
- [F3]Reflects a weighted average sale price of $917.78 per share, at prices ranging from $917.29 to $918.25 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
- [F4]Reflects a weighted average sale price of $918.81 per share, at prices ranging from $918.37 to $919.20 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
- [F5]Reflects a weighted average sale price of $919.91 per share, at prices ranging from $919.39 to $920.38 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
- [F6]Reflects a weighted average sale price of $920.73 per share, at prices ranging from $920.44 to $921.31 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
- [F7]Reflects a weighted average sale price of $921.93 per share, at prices ranging from $921.51 to $922.46 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
- [F8]Reflects a weighted average sale price of $923.02 per share, at prices ranging from $922.56 to $923.45 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
- [F9]Reflects a weighted average sale price of $924.08 per share, at prices ranging from $923.59 to $924.43 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.