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GOLDMAN SACHS GROUP INC - 650 total filings

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8-K

GOLDMAN SACHS GROUP INC 8-K Report, Executive Changes (Feb 13, 2026)

Feb 13, 2026

Goldman Sachs Group Inc. (GS) has announced a significant leadership change with the upcoming retirement of Kathryn H. Ruemmler from her positions as Chief Legal Officer and General Counsel. Ms. Ruemmler's retirement is slated to take effect on June 30, 2026. This transition marks the end of her tenure in a critical role responsible for overseeing the company's legal affairs and compliance. Investors will be keen to understand the firm's succession plan for this vital position and how the transition will be managed to ensure continuity in legal and regulatory matters.

8-K

GOLDMAN SACHS GROUP INC 8-K Report, Exhibit Filing (Feb 2, 2026)

Feb 2, 2026

Goldman Sachs Group Inc. (GS) has filed an 8-K report on February 2, 2026, primarily to disclose the issuance of new subordinated debt securities. The company has successfully issued $2.5 billion in 5.387% Fixed-Rate Reset Subordinated Notes due 2041. This issuance was conducted under the company's existing shelf registration statement on Form S-3, indicating it was a planned capital markets activity designed to access funding. The filing includes the form of the notes, legal opinions, and consents related to the issuance, all of which are incorporated by reference into the aforementioned registration statement.

8-K

GOLDMAN SACHS GROUP INC 8-K Report, Corporate Update (Jan 23, 2026)

Jan 23, 2026

Goldman Sachs Group, Inc. (GS) announced on January 23, 2026, the 2025 total annual compensation for Chairman and CEO David Solomon, set at $47 million. This represents a notable increase from his 2024 compensation of $39 million. The compensation package is heavily weighted towards performance-based incentives, with 70% allocated to Performance Share Units (PSUs) tied to firm-wide performance metrics and 22.5% to a Carried Interest Program (CIP) linked to long-term strategic growth areas. The remaining 7.5% is in cash, with base salary unchanged year-over-year. The Compensation Committee based its decision on a comprehensive assessment framework, considering strong shareholder value creation, including a 57% total shareholder return and significant capital returns. The firm also demonstrated robust financial performance in 2025, achieving its second-highest net revenues and net earnings, a substantial increase in diluted EPS, and improved return on equity. These positive results, coupled with advancements in strategic priorities, risk management, client service, and talent development, underpinned the compensation determination.

8-K

GOLDMAN SACHS GROUP INC 8-K Report, Exhibit Filing (Jan 21, 2026)

Jan 21, 2026

Goldman Sachs Group, Inc. (GS) has filed an 8-K report detailing the issuance of a significant volume of debt securities on January 21, 2026. This offering, conducted under the company's existing shelf registration statement, totals approximately $15 billion across various tranches with different maturity dates and interest rate structures. Investors should note the issuance includes both floating rate and fixed/floating rate notes, with maturities ranging from 2029 to 2047. This move represents a strategic financing activity by Goldman Sachs to manage its capital structure and fund ongoing operations. The filing also includes customary legal opinions and consents related to the securities.

8-K

GOLDMAN SACHS GROUP INC 8-K Report, Financial Results (Jan 15, 2026)

Jan 15, 2026

Goldman Sachs Group, Inc. (GS) has filed an 8-K report on January 15, 2026, announcing its financial results for the fourth quarter and full year ended December 31, 2025. The report primarily serves to provide investors with access to the official press release detailing these financial outcomes, which is attached as Exhibit 99.1. Furthermore, the company has also furnished a presentation deck (Exhibit 99.2) that will accompany its conference call scheduled for the same day at 9:30 a.m. (ET). This presentation is expected to offer deeper insights into the firm's performance, strategic outlook, and other relevant financial matters, providing a crucial resource for understanding the company's recent financial condition and future prospects.

8-K

GOLDMAN SACHS GROUP INC 8-K Report, Financial Results (Jan 8, 2026)

Jan 8, 2026

Goldman Sachs Group, Inc. (GS) has announced a significant strategic move involving the Apple Card program. The firm has entered into an agreement to transition the Apple Card program and associated accounts to a new issuer, with the process expected to conclude in approximately 24 months. This transaction is projected to have a notable positive impact on the firm's fourth quarter 2025 earnings per share, with an anticipated increase of $0.46. This EPS boost stems from a substantial release of loan loss reserves, amounting to $2.48 billion, which is partially offset by a reduction in net revenues ($2.26 billion) due to portfolio markdowns and contract termination costs, alongside minor operating expenses. In addition to this operational development, Goldman Sachs is also refining its business segment reporting to better align with its strategic focus, particularly within the Platform Solutions segment. While the core three segments—Global Banking & Markets, Asset & Wealth Management, and Platform Solutions—remain, there are reallocations of certain business activities. These changes, effective from the fourth quarter of 2025, are designed to reflect the firm's ongoing strategic refinement, especially concerning consumer-related activities, and prior period results have been conformed to this new reporting structure.

10-Q

GOLDMAN SACHS GROUP INC Quarterly Report for Q3 Ended Sep 30, 2025

Oct 31, 2025

Goldman Sachs Group, Inc. reported strong financial results for the third quarter and the first nine months of 2025, with net earnings of $4.10 billion and $12.56 billion, respectively. This represents a significant increase compared to the same periods in 2024, driven by broad-based revenue growth across all business segments, particularly in Global Banking & Markets, which saw strong performance in investment banking and FICC activities. The firm's return on equity (ROE) improved to 14.2% for the quarter and 14.6% year-to-date, reflecting the strong operating performance and effective capital deployment. Despite increased operating expenses, largely due to higher compensation and investments in technology, the firm's efficiency ratio improved, signaling effective cost management. Asset & Wealth Management also demonstrated solid growth, with an 11% increase in investment management revenues driven by higher assets under supervision. Platform Solutions continued to improve, with net revenues increasing significantly year-over-year due to the absence of prior-year losses related to divested consumer portfolios. The firm maintained robust capital ratios, with CET1 ratios well above regulatory minimums, and continued to return capital to shareholders through share repurchases and increased dividends.

8-K

GOLDMAN SACHS GROUP INC 8-K Report, Exhibit Filing (Oct 21, 2025)

Oct 21, 2025

Goldman Sachs Group, Inc. (GS) filed an 8-K on October 21, 2025, reporting on the issuance of a significant amount of new debt securities on October 21, 2025. The company has raised a total of $10 billion through a series of notes with varying maturities and interest rate structures, including floating rate notes and fixed/floating rate notes. This issuance was conducted under the company's existing shelf registration statement on Form S-3. This move indicates Goldman Sachs' strategy to manage its capital structure and potentially fund ongoing operations, investments, or refinancing needs. Investors should note the diversity of the debt offerings, with maturities ranging from 2029 to 2036 and different interest rate mechanisms, which may impact the company's future interest expenses and financial leverage. The filing also includes supporting legal opinions and consents related to the debt issuance.

8-K

GOLDMAN SACHS GROUP INC 8-K Report, Financial Results (Oct 14, 2025)

Oct 14, 2025

Goldman Sachs Group Inc. (GS) has filed a Form 8-K on October 14, 2025, to report its financial results for the third quarter ended September 30, 2025. The filing includes a press release (Exhibit 99.1) detailing these results, which are now considered "filed" under Section 18 of the Exchange Act. Investors should refer to this press release for specific financial performance metrics. In conjunction with the earnings release, Goldman Sachs will also host a conference call on October 14, 2025, to discuss its financial performance, business outlook, and other related topics. A presentation for this call (Exhibit 99.2) has also been provided. While this presentation is furnished and not "filed," it offers valuable insights into management's perspective and future expectations for the firm.

10-Q

GOLDMAN SACHS GROUP INC Quarterly Report for Q2 Ended Jun 30, 2025

Aug 1, 2025

Goldman Sachs Group, Inc. (GS) reported a strong second quarter and first half of 2025, with net earnings of $3.72 billion and $8.46 billion, respectively. Diluted EPS reached $10.91 for the quarter and $25.07 for the half, demonstrating significant year-over-year growth. Total net revenues increased by 15% year-over-year for the quarter to $14.58 billion and by 10% for the first half to $29.65 billion. This growth was primarily driven by robust performance in Global Banking & Markets, with notable increases in investment banking fees, equities, and FICC intermediation, as well as a significant rise in net interest income due to favorable interest rate environments and balance sheet growth. Asset & Wealth Management saw a slight decrease in net revenues, primarily due to lower revenues from investments, though management and other fees increased. Platform Solutions remained relatively stable. The firm continued to return capital to shareholders, repurchasing $3.00 billion in common stock during the second quarter and increasing its quarterly dividend. Goldman Sachs maintained strong capital ratios, with a Standardized CET1 capital ratio of 14.5% as of June 2025, well above regulatory requirements. The firm's outlook for Global Banking & Markets appears positive, with a growing investment banking fees backlog.

8-K

GOLDMAN SACHS GROUP INC 8-K Report, Financial Results (Jul 16, 2025)

Jul 16, 2025

Goldman Sachs Group, Inc. (GS) has filed an 8-K report on July 16, 2025, to disclose its financial results for the second quarter ended June 30, 2025. The report includes a press release (Exhibit 99.1) detailing the quarter's performance, which is now considered filed under the Securities Exchange Act of 1934. This filing is crucial for investors seeking to understand the firm's operational performance and financial condition during the reported period. In addition to the earnings release, the 8-K also incorporates by reference a presentation (Exhibit 99.2) that will be used during the firm's conference call scheduled for the same day. While the presentation is furnished and not deemed filed, it offers valuable insights into the company's outlook and other related matters discussed with analysts and investors. Investors are encouraged to review both the press release and the presentation for a comprehensive understanding of Goldman Sachs' recent financial activities and future guidance.

8-K

GOLDMAN SACHS GROUP INC 8-K Report, Corporate Update (Jul 1, 2025)

Jul 1, 2025

Goldman Sachs Group, Inc. (GS) has filed an 8-K report on July 1, 2025, to announce the issuance of a press release dated July 1, 2025. The specific content of this press release is not detailed within the 8-K filing itself, but it is incorporated by reference as Exhibit 99.1. Investors should refer to this exhibit for the substantive information being disclosed by the company. The filing also includes standard iXBRL exhibits for interactive data reporting.

10-Q

GOLDMAN SACHS GROUP INC Quarterly Report for Q1 Ended Mar 31, 2025

May 2, 2025

Goldman Sachs Group, Inc. (GS) reported strong results for the first quarter of 2025, with net earnings of $4.74 billion, a significant increase from $4.13 billion in the first quarter of 2024. Diluted earnings per share (EPS) also saw a substantial rise to $14.12 from $11.58 year-over-year. This performance was driven by an increase in net revenues to $15.06 billion, up 6% from the prior year period, primarily due to robust growth in the Global Banking & Markets segment, particularly in Equities, and a solid increase in Asset & Wealth Management's management and other fees. The firm's efficiency ratio remained stable at 60.6%, indicating effective cost management. Capital returned to shareholders was substantial, with $5.34 billion deployed in share repurchases and dividends. The company's Common Equity Tier 1 (CET1) capital ratio remains strong, demonstrating a solid capital position. Despite a challenging macroeconomic environment marked by inflation and geopolitical concerns, Goldman Sachs navigated these conditions effectively, showcasing resilience and profitable growth across its key business segments.

8-K

GOLDMAN SACHS GROUP INC 8-K Report, Executive Changes (Apr 24, 2025)

Apr 24, 2025

This 8-K filing from The Goldman Sachs Group, Inc. (GS) reports on the outcomes of their Annual Meeting of Shareholders held on April 23, 2025. The most significant event for investors is the shareholder approval of The Goldman Sachs Amended and Restated Stock Incentive Plan (2025) (the "2025 SIP"), which extends the equity plan through the 2029 annual meeting and includes administrative enhancements. This plan is critical for the company's ability to attract, retain, and incentivize key employees through equity awards. Additionally, the filing details the voting results for various proposals, including the election of all 14 director nominees, the "Say on Pay" advisory vote to approve executive compensation, and the ratification of PricewaterhouseCoopers LLP as the independent registered public accounting firm. Notably, several shareholder proposals concerning DEI goals, racial discrimination audits, and energy supply financing disclosure were not approved by the shareholders.

8-K

GOLDMAN SACHS GROUP INC 8-K Report, Exhibit Filing (Apr 23, 2025)

Apr 23, 2025

Goldman Sachs Group, Inc. (GS) filed an 8-K on April 22, 2025, disclosing the issuance of new debt securities scheduled for April 23, 2025. This filing is a follow-up to their shelf registration statement on Form S-3. The issuance involves a total of $6 billion in new debt across three tranches, aimed at general corporate purposes and strengthening the company's capital structure. Investors should note that this 8-K primarily serves to announce and provide supporting documentation for a significant debt offering. While it doesn't detail the company's operational performance or financial results, the scale of the debt issuance indicates Goldman Sachs' strategy to access capital markets for funding. The specific terms, including interest rates and maturity dates, are provided for each tranche, offering transparency into the cost of this new borrowing.

8-K

GOLDMAN SACHS GROUP INC 8-K Report, Financial Results (Apr 14, 2025)

Apr 14, 2025

Goldman Sachs Group, Inc. (GS) has filed an 8-K report on April 14, 2025, to announce its financial results for the first quarter ended March 31, 2025. The filing incorporates by reference a press release (Exhibit 99.1) containing these results and a presentation (Exhibit 99.2) for a conference call scheduled for the same day to discuss the firm's performance, outlook, and related matters. Investors should refer to these exhibits for detailed financial information and management's commentary on the quarter's performance.

10-K

GOLDMAN SACHS GROUP INC Annual Report, Year Ended Dec 31, 2024

Feb 27, 2025

Goldman Sachs Group, Inc. reported a strong financial performance for the fiscal year 2024, with net earnings of $14.28 billion, a significant increase from $8.52 billion in 2023, leading to a diluted EPS of $40.54. Return on Equity (ROE) improved to 12.7% from 7.5% in the previous year. Net revenues rose by 16% year-over-year to $53.51 billion, driven by robust performance in Global Banking & Markets and Asset & Wealth Management. The company's strategy of narrowing its focus on consumer-related activities continued, with divestitures impacting results but overall strategic realignment showing positive financial outcomes. Operating expenses decreased by 2% year-over-year, contributing to an improved efficiency ratio of 63.1% from 74.6%. Goldman Sachs returned $11.80 billion in capital to shareholders through share repurchases and dividends, demonstrating a commitment to capital deployment. The firm maintains strong capital and liquidity positions, with a CET1 capital ratio of 15.0% under Standardized Capital Rules.

8-K

GOLDMAN SACHS GROUP INC 8-K Report, Executive Changes (Feb 26, 2025)

Feb 26, 2025

Goldman Sachs Group, Inc. (GS) announced a key leadership change in its latest 8-K filing, dated February 26, 2025. Effective February 26, 2025, KC McClure has been appointed as an independent member to the company's Board of Directors. Ms. McClure's appointment is further strengthened by her upcoming roles on the Audit, Corporate Governance and Nominating, and Risk Committees, effective April 1, 2025, indicating a focus on enhancing governance and oversight in critical areas. Additionally, John Waldron, currently President and Chief Operating Officer, has been appointed as a member of the Board, effective February 26, 2025. While Mr. Waldron's appointment adds operational leadership to the board, he is not considered independent and will not receive additional compensation for this role. These appointments signal a strategic move to integrate diverse expertise and internal leadership into the highest levels of corporate governance.

8-K

GOLDMAN SACHS GROUP INC 8-K Report, Bylaw Amendment (Feb 13, 2025)

Feb 13, 2025

The Goldman Sachs Group, Inc. (GS) has filed a Current Report (8-K) on February 12, 2025, primarily to announce the filing of its Restated Certificate of Incorporation with the Secretary of State of Delaware. This restated document incorporates the previously filed Certificate of Designations for its 6.850% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series Z. This action is largely administrative, formalizing the terms of this specific series of preferred stock within the company's foundational corporate documents.

8-K

GOLDMAN SACHS GROUP INC 8-K Report, Exhibit Filing (Jan 31, 2025)

Jan 31, 2025

Goldman Sachs Group Inc. (GS) filed a Form 8-K on January 31, 2025, primarily to disclose the filing of certain exhibits. These exhibits include an opinion and consents from legal counsel Davis Polk & Wardwell LLP, as well as iXBRL-formatted cover page information. This filing does not appear to contain any material financial results or significant operational updates that would immediately impact investor valuation or strategy. Investors should note that this is an administrative filing related to legal documentation and data formatting.

8-K

GOLDMAN SACHS GROUP INC 8-K Report, Exhibit Filing (Jan 28, 2025)

Jan 28, 2025

Goldman Sachs Group, Inc. (GS) has filed an 8-K report to disclose the issuance of several tranches of debt securities on January 28, 2025. This issuance is part of the company's existing shelf registration statement on Form S-3. The total aggregate principal amount of these newly issued notes is substantial, totaling $8.5 billion, indicating the company's ongoing strategy to manage its capital structure and fund its operations through the debt markets. Investors should note the diversity of the debt offerings, including floating rate notes and fixed/floating rate notes with varying maturities ranging from 2031 to 2056. This suggests Goldman Sachs is likely seeking to diversify its funding sources and potentially hedge against future interest rate movements. The filing primarily relates to the exhibits supporting the issuance, such as legal opinions and consents, rather than new financial performance data.

8-K

GOLDMAN SACHS GROUP INC 8-K Report, Rights Modification (Jan 24, 2025)

Jan 24, 2025

Goldman Sachs Group, Inc. (GS) has filed an 8-K report detailing the creation and terms of its new Series Z Preferred Stock. This new class of preferred stock, specifically the 6.850% Fixed-Rate Reset Non-Cumulative Preferred Stock, was established through a Certificate of Designations filed on January 21, 2025. The liquidation preference for each share of Series Z Preferred Stock is set at $25,000. This issuance has implications for common stockholders, as the ability of Goldman Sachs to declare or pay dividends on, or purchase, redeem, or acquire shares of its common stock will be restricted if the company fails to meet its dividend obligations on the Series Z Preferred Stock. These restrictions are detailed within the Certificate of Designations, a key document incorporated by reference into this filing. The report also notes related exhibits concerning the offering and sale of depositary shares representing interests in this new preferred stock.

8-K

GOLDMAN SACHS GROUP INC 8-K Report, Executive Changes (Jan 17, 2025)

Jan 17, 2025

Goldman Sachs Group, Inc. (GS) filed an 8-K on January 17, 2025, detailing significant executive compensation arrangements, including substantial retention grants and the adoption of a new long-term incentive program. The company announced the grant of 130,508 Restricted Stock Units (RSUs) to CEO David Solomon and COO John Waldron, each valued at $80 million with a five-year vesting period. These grants are intended to ensure leadership stability and continuity, aligning senior executives with long-term shareholder value creation. Furthermore, the firm has launched a new Long Term Executive Carried Interest Incentive Program (Carried Interest Program or CIP). This program shifts a portion of annual variable compensation from cash to carried interest in private equity funds for key executives, including Messrs. Solomon, Waldron, CFO Denis Coleman, and Chief Legal Officer Kathryn Ruemmler. The Carried Interest Program aims to enhance the firm's competitiveness in attracting and retaining talent within the alternatives asset management space and directly links executive rewards to the performance of these strategic growth areas. Mr. Solomon's total 2024 annual compensation was also disclosed at $39 million, an increase from $31 million in 2023, reflecting strong firm performance and strategic execution.

8-K

GOLDMAN SACHS GROUP INC 8-K Report, Financial Results (Jan 15, 2025)

Jan 15, 2025

Goldman Sachs Group Inc. (GS) has filed an 8-K report on January 15, 2025, announcing its financial results for the fourth quarter and full year ended December 31, 2024. The report includes a press release (Exhibit 99.1) detailing these results and a presentation (Exhibit 99.2) for an upcoming conference call. While the specific financial figures are contained within the referenced exhibits, this filing serves as a formal notification to the market of these key performance indicators. Investors should refer to the attached press release and presentation for comprehensive details on revenue, earnings, segment performance, and forward-looking statements.

8-K

GOLDMAN SACHS GROUP INC 8-K Report, Exhibit Filing (Nov 19, 2024)

Nov 19, 2024

This 8-K filing from Goldman Sachs Group, Inc. (GS) primarily serves to disclose the issuance of new debt securities. On November 19, 2024, the company is issuing $3 billion in 5.561% Fixed/Floating Rate Notes due 2045. This issuance is conducted under their existing shelf registration statement on Form S-3, indicating a routine capital markets activity for the financial institution. The filing includes legal opinions and consents related to these notes, which are standard for debt offerings. For investors, this represents an addition to Goldman Sachs' outstanding debt obligations. The fixed/floating rate structure offers flexibility, and the long maturity of 2045 suggests a strategic approach to long-term funding. Investors should note this as part of the company's overall capital structure and debt management strategy.

10-Q

GOLDMAN SACHS GROUP INC Quarterly Report for Q3 Ended Sep 30, 2024

Nov 4, 2024

Goldman Sachs Group, Inc. reported strong financial results for the third quarter and first nine months of 2024, demonstrating significant year-over-year growth. Total net revenues increased by 7% to $12.70 billion in Q3 2024, driven by robust performance in Global Banking & Markets and Asset & Wealth Management, which saw higher investment banking fees, equity underwriting, and investment management revenues. Despite a challenging market environment characterized by inflation concerns and geopolitical tensions, the firm's ability to adapt and drive revenue growth across key segments is a positive indicator. The firm also returned substantial capital to shareholders, repurchasing $1.00 billion in common stock and paying $978 million in dividends in Q3 2024, signaling confidence in its ongoing financial strength and commitment to shareholder returns. While the provision for credit losses increased notably due to credit card portfolio activity, overall operating expenses decreased, leading to an improved efficiency ratio of 65.5% in Q3 2024. The firm's capital position remains strong, with CET1 capital ratios well above regulatory requirements. Investors should monitor the ongoing impact of macroeconomic conditions and geopolitical factors on market-making activities and investment banking pipelines.

8-K

GOLDMAN SACHS GROUP INC 8-K Report, Bylaw Amendment (Oct 24, 2024)

Oct 24, 2024

Goldman Sachs Group Inc. (GS) has filed an 8-K report detailing the elimination of its 5.00% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series P. This action follows the redemption of all outstanding shares of this preferred stock on October 21, 2024. The company has filed a Certificate of Elimination with the Delaware Secretary of State to formally remove the Series P Preferred Stock from its Restated Certificate of Incorporation. Furthermore, Goldman Sachs has filed an amended Restated Certificate of Incorporation that incorporates the terms of its newly issued 6.125% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series Y, while also reflecting the elimination of the Series P Preferred Stock. These filings are standard corporate housekeeping procedures related to capital structure adjustments and do not indicate any immediate operational or financial performance changes for the company.

8-K

GOLDMAN SACHS GROUP INC 8-K Report, Exhibit Filing (Oct 23, 2024)

Oct 23, 2024

Goldman Sachs Group, Inc. (GS) has filed an 8-K report to announce the issuance of new debt securities. On October 23, 2024, the company will be issuing a total of $5.5 billion in notes, comprising $2 billion of 4.692% Fixed/Floating Rate Notes due 2030 and $3.5 billion of 5.016% Fixed/Floating Rate Notes due 2035. This issuance is being conducted under the company's existing shelf registration statement on Form S-3. The filing primarily serves to provide the necessary legal documentation and opinions related to this debt offering.

8-K

GOLDMAN SACHS GROUP INC 8-K Report, Financial Results (Oct 15, 2024)

Oct 15, 2024

Goldman Sachs Group Inc. (GS) has filed an 8-K Current Report on October 15, 2024, to disclose its financial results for the third quarter ended September 30, 2024. The report primarily serves to attach the company's earnings press release (Exhibit 99.1) and a presentation for an upcoming conference call (Exhibit 99.2). Investors should refer to these exhibits for detailed financial performance, operational highlights, and management's outlook. The press release provides the firm's quarterly financial figures, while the presentation is intended for a conference call scheduled for the same day to discuss these results. While the 8-K itself does not contain the full financial details, it formally announces the availability of this information to the public, complying with regulatory disclosure requirements. Investors seeking to understand GS's recent performance and future prospects should carefully review the attached exhibits.

8-K

GOLDMAN SACHS GROUP INC 8-K Report, Rights Modification (Sep 26, 2024)

Sep 26, 2024

Goldman Sachs Group Inc. (GS) has filed an 8-K report detailing the creation and terms of its new 6.125% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series Y. This new series of preferred stock, with a liquidation preference of $25,000 per share, was established through a Certificate of Designations filed on September 23, 2024. The issuance of this Series Y Preferred Stock introduces specific covenants that will restrict Goldman Sachs' ability to declare or pay dividends on, or repurchase, its common stock if it fails to meet its dividend obligations on the Series Y Preferred Stock. This filing is significant for investors as it outlines potential future limitations on common stock capital allocation. The fixed-rate reset nature of the preferred stock means its dividend rate will adjust over time, and the non-cumulative feature indicates that missed preferred dividends will not accrue. The company also notes that this filing is in connection with the offering and sale of depositary shares representing interests in this new preferred stock, suggesting an active capital markets transaction underway.

8-K

GOLDMAN SACHS GROUP INC 8-K Report, Corporate Update (Sep 19, 2024)

Sep 19, 2024

Goldman Sachs Group, Inc. (GS) has announced a proposed public offering of a new series of preferred stock, Series Y. This offering is intended to raise capital, with the company stating its intention to use the net proceeds to redeem all outstanding shares of its 5.00% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series P. This strategic move suggests a potential optimization of the company's capital structure, possibly to secure more favorable terms or manage its debt obligations more efficiently.

8-K

GOLDMAN SACHS GROUP INC 8-K Report, Corporate Update (Aug 29, 2024)

Aug 29, 2024

Goldman Sachs Group Inc. (GS) announced a significant development regarding its regulatory capital requirements, as disclosed in their recent 8-K filing. The Federal Reserve has revised the firm's stress capital buffer (SCB) requirement downward to 6.2%. This adjustment is set to become effective on October 1, 2024. This reduction in the SCB requirement is a positive signal for the company, indicating a perceived improvement in its risk profile or a broader adjustment in regulatory expectations for large financial institutions. Consequently, this lower SCB requirement will result in an improved Standardized Common Equity Tier 1 (CET1) ratio for Goldman Sachs, which will stand at 13.7% effective October 1, 2024. A higher CET1 ratio is a key indicator of a bank's financial strength and its ability to absorb unexpected losses. For investors, this means Goldman Sachs is operating with a stronger capital cushion, which can enhance financial stability, support future growth initiatives, and potentially lead to increased shareholder returns over time.

10-Q

GOLDMAN SACHS GROUP INC Quarterly Report for Q2 Ended Jun 30, 2024

Aug 2, 2024

Goldman Sachs Group, Inc. reported strong financial results for the second quarter of 2024, with net earnings of $3.04 billion, a significant increase from $1.22 billion in the prior year period. Diluted earnings per share (EPS) rose to $8.62 from $3.08 year-over-year. This performance was driven by a broad-based increase in net revenues across its business segments, particularly in Global Banking & Markets, which saw higher revenues from Investment Banking and FICC & Equities, and in Asset & Wealth Management, benefiting from higher management and other fees and gains in Equity investments. The firm also demonstrated improved operational efficiency, with its efficiency ratio decreasing to 67.0% from 78.4% in the prior year's quarter. Capital returned to shareholders remained robust, with $4.43 billion deployed in the quarter through share repurchases and dividends. The firm's Common Equity Tier 1 (CET1) capital ratio remained strong at 14.9% under Standardized Capital Rules and 15.9% under Advanced Capital Rules. Despite ongoing macroeconomic and geopolitical uncertainties, Goldman Sachs is strategically narrowing its focus on consumer-related activities while continuing to invest in growth areas like alternatives within Asset & Wealth Management.

8-K

GOLDMAN SACHS GROUP INC 8-K Report, Exhibit Filing (Jul 23, 2024)

Jul 23, 2024

Goldman Sachs Group, Inc. (GS) filed an 8-K report on July 23, 2024, detailing the issuance of new debt securities. This filing primarily serves to provide documentation related to the sale of $2.5 billion in 5.049% Fixed/Floating Rate Notes due 2030 and $3.0 billion in 5.330% Fixed/Floating Rate Notes due 2035. These notes were issued on July 23, 2024, under the company's existing shelf registration statement. The report includes legal opinions and consents from Sullivan & Cromwell LLP concerning the validity and legality of these debt issuances. The primary takeaway for investors is that Goldman Sachs is actively managing its capital structure through the issuance of long-term debt, diversifying its funding sources and potentially optimizing its cost of capital. The specific terms of the notes, including their fixed/floating rate nature and maturity dates, provide insights into the company's debt management strategy.

8-K

GOLDMAN SACHS GROUP INC 8-K Report, Financial Results (Jul 15, 2024)

Jul 15, 2024

The Goldman Sachs Group, Inc. (GS) has filed an 8-K report on July 15, 2024, to announce its financial results for the second quarter ended June 30, 2024. This filing primarily serves to incorporate by reference the company's press release (Exhibit 99.1) and a presentation for an upcoming investor conference call (Exhibit 99.2). Investors should refer to the press release for detailed financial performance, operational highlights, and forward-looking statements for the second quarter. The accompanying presentation will likely provide further context and visual aids for the reported figures and strategic outlook. As this 8-K is largely an informational filing, the specific financial metrics and qualitative discussions are contained within the referenced exhibits.

8-K

GOLDMAN SACHS GROUP INC 8-K Report, Corporate Update (Jun 28, 2024)

Jun 28, 2024

This 8-K filing by Goldman Sachs Group, Inc. (GS) on June 27, 2024, primarily serves to announce the issuance of a press release dated June 28, 2024. While the content of the press release is not detailed within the 8-K itself, its inclusion as an exhibit suggests it contains material information relevant to investors. Investors should review the attached press release (Exhibit 99.1) for specific details regarding recent company developments, financial updates, strategic initiatives, or other material events that may impact the company's performance or stock valuation. The filing also notes the inclusion of iXBRL formatted data, indicating that the company is adhering to modern regulatory reporting standards. The core takeaway for investors is to seek out and analyze the content of the press release filed as Exhibit 99.1 to understand the nature of the announcement made on or around June 28, 2024, as this is the primary purpose of this filing.

8-K

GOLDMAN SACHS GROUP INC 8-K Report, Executive Changes (Jun 24, 2024)

Jun 24, 2024

Goldman Sachs Group, Inc. announced the appointment of John B. Hess as an independent member of its Board of Directors, effective June 24, 2024. Mr. Hess, who currently serves as CEO of Hess Corporation and Chairman and CEO of Hess Midstream LP, will also join the Compensation, Corporate Governance and Nominating, and Risk Committees of the Board. This appointment brings a seasoned executive with extensive experience in the energy sector to Goldman Sachs' leadership. While Mr. Hess holds significant leadership roles in companies that engage in business with Goldman Sachs, the filing emphasizes that these transactions are conducted on an arm's length basis and are part of ordinary course financial services. Past and current engagements include financial advisory for Hess Corporation, underwriting for Hess Midstream, and participation in revolving credit facilities for both entities. Investors should note that these existing business relationships are disclosed to ensure transparency.

8-K

GOLDMAN SACHS GROUP INC 8-K Report, Bylaw Amendment (May 20, 2024)

May 20, 2024

Goldman Sachs Group, Inc. (GS) filed an 8-K on May 19, 2024, detailing the elimination of its 6.375% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series K. This action, effective May 17, 2024, involved filing a Certificate of Elimination with the Delaware Secretary of State and the redemption of all outstanding Series K Preferred Stock shares on the same date. Concurrently, the company filed an amended Restated Certificate of Incorporation to reflect both the elimination of the Series K Preferred Stock and the terms of its newly established 7.50% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series X. These corporate actions are administrative in nature concerning the company's capital structure and do not appear to relate to operational performance or recent financial results.

10-Q

GOLDMAN SACHS GROUP INC Quarterly Report for Q1 Ended Mar 31, 2024

May 3, 2024

Goldman Sachs Group, Inc. (GS) reported strong financial results for the first quarter of 2024, with net earnings of $4.13 billion, a significant increase from $3.23 billion in the first quarter of 2023. Diluted Earnings Per Share (EPS) rose to $11.58 from $8.79 year-over-year. The company's net revenues increased by 16% to $14.21 billion, driven by robust performance across all segments, particularly in Global Banking & Markets, which saw higher revenues from investment banking and trading activities. Asset & Wealth Management also showed solid growth, benefiting from higher assets under supervision and private banking and lending activities. The firm maintained a strong Common Equity Tier 1 (CET1) capital ratio, reflecting its solid capital position and effective risk management.

8-K

GOLDMAN SACHS GROUP INC 8-K Report, Shareholder Vote Results (Apr 25, 2024)

Apr 25, 2024

This 8-K filing from Goldman Sachs Group Inc. (GS) reports on the outcomes of its Annual Shareholder Meeting held on April 24, 2024. The primary focus for investors is the shareholder voting results on key corporate governance and compensation matters. The filing confirms the election of all 11 director nominees for one-year terms and the approval of executive compensation through the "Say on Pay" advisory vote, indicating shareholder confidence in the company's remuneration strategies and board leadership. Furthermore, the ratification of PricewaterhouseCoopers LLP as the independent registered public accounting firm for fiscal year 2024 was overwhelmingly approved, a standard but crucial item for investor assurance. Notably, a significant number of shareholder proposals concerning environmental, social, and governance (ESG) issues, including transparency in lobbying, clean energy financing, and pay equity, were not approved by the shareholders. This suggests a divergence in views between a portion of the shareholder base and the company's board on these specific ESG initiatives.

8-K

GOLDMAN SACHS GROUP INC 8-K Report, Exhibit Filing (Apr 25, 2024)

Apr 25, 2024

This 8-K filing by Goldman Sachs Group, Inc. (GS) primarily serves to announce the issuance of new debt securities and to file related exhibits. On April 25, 2024, the company issued $5 billion in aggregate principal amount of Fixed/Floating Rate Notes, split between $2.5 billion due in 2030 and $2.5 billion due in 2035. These issuances were made under the company's existing shelf registration statement. This filing is largely procedural and relates to the legal and financial documentation supporting the debt offering.

8-K

GOLDMAN SACHS GROUP INC 8-K Report, Rights Modification (Apr 23, 2024)

Apr 23, 2024

Goldman Sachs Group, Inc. (GS) filed an 8-K on April 22, 2024, primarily to disclose the terms of its newly issued 7.50% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series X. This preferred stock has a liquidation preference of $25,000 per share and its issuance introduces certain restrictions on the company's ability to declare or pay dividends on, or purchase, redeem, or acquire, its common stock if dividends on the Series X Preferred Stock are not paid. The filing also indicates that this Series X Preferred Stock is being offered and sold through depositary shares under an existing shelf registration statement. This move is a capital-raising activity that may impact the company's capital structure and dividend policies for common stockholders, particularly in scenarios where preferred stock dividend payments are missed.

8-K

GOLDMAN SACHS GROUP INC 8-K Report, Corporate Update (Apr 16, 2024)

Apr 16, 2024

Goldman Sachs Group, Inc. (GS) announced on April 16, 2024, its intention to launch a proposed public offering of a new series of preferred stock, Series X. The terms of this offering, including pricing, are subject to market conditions and have not yet been finalized. This offering is significant because the company plans to use the net proceeds, if the offering successfully prices and closes, to redeem all of its outstanding 6.375% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series K (GS PrK). Investors in the Series K Preferred Stock should note that the redemption is contingent on the successful completion of the Series X preferred stock offering. There is no guarantee that the new offering will price or close, nor that the company will ultimately decide to redeem the Series K Preferred Stock. Further details regarding the offering are available in the company's preliminary prospectus supplement filed on April 16, 2024.

8-K

GOLDMAN SACHS GROUP INC 8-K Report, Financial Results (Apr 15, 2024)

Apr 15, 2024

Goldman Sachs Group, Inc. (GS) has filed an 8-K report on April 15, 2024, to announce its financial results for the first quarter ended March 31, 2024. This filing primarily serves to disclose the earnings press release (Exhibit 99.1) and the presentation for the associated conference call (Exhibit 99.2). Investors should note that while the press release contains the core financial information, certain sections are explicitly excluded from being deemed "filed" under SEC regulations, meaning they do not carry the same liability as officially filed information. However, the majority of the information within Exhibit 99.1 is considered filed. The company will also host a conference call on April 15, 2024, at 9:30 a.m. ET to discuss these results and the firm's outlook.

8-K

GOLDMAN SACHS GROUP INC 8-K Report, Executive Changes (Apr 12, 2024)

Apr 12, 2024

Goldman Sachs Group, Inc. (GS) announced a significant leadership change in its finance division through an 8-K filing on April 11, 2024, detailing events effective April 9, 2024. Philip Berlinski, the current Global Treasurer and a named executive officer, will retire from his role as Global Treasurer effective May 1, 2024, and from the company entirely on June 1, 2024. Mr. Berlinski's departure also includes his roles as CEO of Goldman Sachs Bank USA and interim Head of Platform Solutions. Following Mr. Berlinski's retirement, Carey Halio has been appointed as the new Global Treasurer, effective May 1, 2024. The transition for Ms. Halio into this critical financial role will commence immediately. This leadership transition in a key financial position is a noteworthy event for investors monitoring the stability and strategic direction of Goldman Sachs' treasury operations and broader executive team.

8-K

GOLDMAN SACHS GROUP INC 8-K Report, Executive Changes (Mar 8, 2024)

Mar 8, 2024

This 8-K filing from Goldman Sachs Group, Inc. announces a key change in its Board of Directors. Jessica Uhl, a current board member, has informed the company that she will not seek re-election at the upcoming 2024 Annual Meeting. This decision stems from her new appointment as President of GE Vernova, a role that will require her full attention and commitment. While the departure of a board member can sometimes raise questions, Uhl's retirement is a planned transition due to her assumption of a significant executive leadership position elsewhere. Investors should note that this is not an indication of any dissatisfaction or issue with Goldman Sachs, but rather a strategic move by Ms. Uhl to focus on her new responsibilities. The company will need to consider a replacement or restructuring of board committees as part of its governance process following her departure.

10-K

GOLDMAN SACHS GROUP INC Annual Report (Amendment), Year Ended Dec 31, 2023

Feb 28, 2024

This filing from Goldman Sachs Group, Inc. (GS) pertains to their 10-K Annual Report for the period ending December 30, 2023, filed on February 27, 2024. This specific document, designated as a 10-K/A (Annual Report Amendment), primarily lists and incorporates by reference a comprehensive set of exhibits that form part of the complete annual report. These exhibits detail the company's governance documents, debt instruments, various compensation plans for employees and directors, and other material agreements. For investors, the key takeaway from this filing is not new financial performance data itself, but rather an overview of the foundational legal and contractual structures governing the company. It confirms the existence and incorporation of the full financial statements (in Part II, Item 8), and provides a detailed index of exhibits related to corporate structure, debt obligations, and executive compensation. Understanding these exhibits is crucial for a thorough assessment of Goldman Sachs' operational framework, risk management, and long-term financial commitments.

10-K

GOLDMAN SACHS GROUP INC Annual Report, Year Ended Dec 31, 2023

Feb 23, 2024

Goldman Sachs Group, Inc. reported net earnings of $8.52 billion for 2023, a decrease from $11.26 billion in 2022, with diluted EPS at $22.87 compared to $30.06 in the prior year. Net revenues were $46.25 billion, a 2% decrease year-over-year, primarily driven by a decline in Global Banking & Markets revenues, partially offset by growth in Platform Solutions and Asset & Wealth Management. The firm continued its strategic focus on narrowing its consumer business, completing the sale of substantially all Marcus loans and agreeing to sell GreenSky. Operating expenses increased by 11% due to higher impairments related to commercial real estate, write-downs on GreenSky, and FDIC special assessment fees, leading to a higher efficiency ratio of 74.6% for 2023 compared to 65.8% in 2022. Despite these challenges, Goldman Sachs returned $9.39 billion in capital to shareholders through buybacks and dividends, maintaining a strong Common Equity Tier 1 (CET1) capital ratio of 14.4% under Standardized Capital Rules.

8-K

GOLDMAN SACHS GROUP INC 8-K Report, Corporate Update (Feb 16, 2024)

Feb 16, 2024

Goldman Sachs Group, Inc. (GS) has filed an 8-K report to disclose the 2023 total annual compensation for its Chairman and CEO, David Solomon. The Board of Directors, following the Compensation Committee's recommendation, has set Mr. Solomon's 2023 compensation at $31 million, an increase from $25 million in 2022. This total includes a base salary of $2 million and $29 million in variable compensation, with a significant portion, 70% ($20.3 million), delivered as performance-based restricted stock units (PSUs). This structure emphasizes long-term alignment with firm performance metrics. The Compensation Committee's decision was guided by an Assessment Framework considering financial performance, strategic priorities, client orientation, risk management, and people strategy. The committee cited Mr. Solomon's leadership in clarifying and simplifying the firm's strategy, executing actions to narrow its focus, and strengthening core franchises. Despite these strategic actions negatively impacting short-term performance and overall financial results (including a reported net revenue of $46.25 billion and net earnings of $8.52 billion), the committee viewed them as critical for building a stronger platform for the future. The report also highlights that selected items and the FDIC special assessment fee reduced 2023 net earnings by $2.8 billion.

8-K

GOLDMAN SACHS GROUP INC 8-K Report, Executive Changes (Jan 19, 2024)

Jan 19, 2024

Goldman Sachs Group Inc. (GS) filed an 8-K on January 18, 2024, disclosing significant changes in its Board of Directors' leadership, effective upon the retirement of Lead Director and Chair of the Governance Committee, Adebayo Ogunlesi. Mr. Ogunlesi will not stand for re-election at the 2024 Annual Meeting, following the announcement of BlackRock's acquisition of Global Infrastructure Partners. This transition involves the appointment of David Viniar as the new independent Lead Director and Chair of the Governance Committee, along with Thomas Montag taking over as Chair of the Risk Committee.