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GOLDMAN SACHS GROUP INC·4

Jan 27, 4:02 PM ET

HALIO CAREY 4

Research Summary

AI-generated summary

Updated

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).