The drop in the CEO’s bonus reflected the decline in the bank’s 2011 earnings to the lowest level since 2008, mainly due to a decline in fixed-income trading revenue for the second consecutive year. The bank eliminated 2,400 jobs and reduced compensation 21 percent. In 2011, the New York-based bank’s stock plunged 46 percent in 2011, which was higher than the 18 percent drop in the S&P 500 Financials Index.  

 

The filings with SEC do not indicate the amount of cash bonus awarded, although Blankfein received a $5.4 million cash bonus for 2010. In 2006 and 2007, he was given about $27 million in cash bonuses each year. 61,702 restricted shares were also awarded to each of the following, President Gary Cohn, Chief Financial Officer David Viniar, and Vice Chairmen J. Michael Evans and John S. Weinberg. Last year, their base salaries were increased to $1.85 million each from $600,000.