Goldman Sachs executives who are expected to receive some $20 billion in bonuses in 2009 will receive the payments in the form of company shares that they cannot sell for five years, the New York-based group said Thursday 11 December. Goldman has been at the centre of a heated public debate over compensation to managers in financial institutions that were bailed out by their governments some months ago. The new policy is designed to align compensation with longer-term performance but it leaves open the issue of the size of bonuses. The company will be allowed, under the new plan, to defer the expense of compensation so it will not report this for 2009.

Links to other sites: Bloomberg, Reuters and Goldman Sachs announcement

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