GSGoldman Sachs
Goldman Sachs is a leading global financial institution that delivers a broad range of financial services to a large and diversified client base that includes corporations, financial institutions, governments and individuals. 10-K, Item 1
Deals between GS and its directors, executives, owners of more than 5% or their families: a relative on the payroll, a plane the company charters from its CEO, a director's company that buys from it. SEC rules (Item 404) make the company list every such deal over $120,000 in its proxy statement. Below: what the proxy filed 2026-03-20 reports that the one filed 2025-03-14 did not, quoted as filed.
New this year
Paragraphs about a deal, a person or a relative with nothing like them in the proxy filed 2025-03-14.
Nothing new: every deal in this year's section was reported last year too.
New wording of the review policy 3 paragraphs without an amount or a name
Related Person Transactions Policy“∎ Any reputational issues; and ∎ Whether the transaction is material, taking into account the significance of the transaction to our investors.”
Read it in the proxy ↗
Related Person Transactions Policy“All of the transactions and relationships reported under - Certain Relationships and Transactions were determined, under the mechanisms of the Related Person Transactions Policy, to be in the best interests of our firm and our shareholders.”
Read it in the proxy ↗
Related Person Transactions Policy“In addition to our policies on director independence and related person transactions, we also maintain a policy with respect to outside director involvement with financial firms, such as private equity firms or hedge funds. Under this policy, in determining whether to approve any current or proposed affiliation of a non-employee director with a financial firm, our Board will consider, among other things, the legal, reputational, operational and business issues presented, and the nature, feasibility and scope of any restrictions, procedures or other steps that would be necessary or appropriate to ameliorate any perceived or potential future conflicts or other issues.”
Read it in the proxy ↗
The whole section 10 paragraphs, proxy filed 2026-03-20
Certain Relatio nships and Related Transactions“On the recommendation of our independent directors, our Board has in place various policies that provide guidelines for the review of certain relationships and transactions involving our directors and executive officers.”
Read it in the proxy ↗
Related Person Transactions Policy“Our Board has a written Related Person Transactions Policy regarding the review and approval of transactions between us and “related persons” (directors, executive officers, immediate family members of a director or executive officer, or known 5% shareholders).”
Read it in the proxy ↗
Related Person Transactions Policy“Under this policy, transactions that exceed $120,000 in which a related person has, may have or may be deemed to have a direct or indirect material interest are submitted to the Designated Reviewers (the Chairs of the Governance, Audit and Risk Committees) or our full Governance Committee for review and approval, as applicable. Certain transactions, including employment relationships, ordinary course banking, brokerage, investment, lending and other services, payment of certain regulatory filing fees and certain other ordinary course non-preferential transactions, have been determined by the Governance Committee to be preapproved transactions, and thus do not require specific review and approval under the policy (although these transactions must be reported to our Governance Committee and may still be submitted for review and approval if deemed appropriate).”
Read it in the proxy ↗
Related Person Transactions Policy“In reviewing and determining whether to approve a related person transaction, the following factors, among others, are considered:”
Read it in the proxy ↗
Related Person Transactions Policy“∎ Whether the transaction would impair the independence of an independent director;”
Read it in the proxy ↗
Related Person Transactions Policy“∎ Whether the transaction presents a conflict of interest, taking into account the size of the transaction, the financial position of the director or executive officer, the nature of the director’s or executive officer’s interest in the transaction, the ongoing nature of the transaction and any other relevant factors;”
Read it in the proxy ↗
Related Person Transactions Policy“∎ Whether the transaction is fair and reasonable to us and on substantially the same terms as would apply to comparable third parties;”
Read it in the proxy ↗
Related Person Transactions Policy“∎ Any reputational issues; and ∎ Whether the transaction is material, taking into account the significance of the transaction to our investors.”
Read it in the proxy ↗
Related Person Transactions Policy“All of the transactions and relationships reported under - Certain Relationships and Transactions were determined, under the mechanisms of the Related Person Transactions Policy, to be in the best interests of our firm and our shareholders.”
Read it in the proxy ↗
Related Person Transactions Policy“In addition to our policies on director independence and related person transactions, we also maintain a policy with respect to outside director involvement with financial firms, such as private equity firms or hedge funds. Under this policy, in determining whether to approve any current or proposed affiliation of a non-employee director with a financial firm, our Board will consider, among other things, the legal, reputational, operational and business issues presented, and the nature, feasibility and scope of any restrictions, procedures or other steps that would be necessary or appropriate to ameliorate any perceived or potential future conflicts or other issues.”
Read it in the proxy ↗
Paragraphs are compared by their words, not read by AI: one counts as new when no paragraph last year shares half of its words, or when it names a person or company last year's section did not. A deal reported again with a new amount is not new. Always check the filing. Open the proxy ↗ · Last year's proxy ↗
Work on GS in a spreadsheet:
Excel workbook (a sheet per section, ten years by column, charts, links to the filings) ·
CSV.
For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/GS/export.csv") into a cell.