NEW YORK, March 27 (Reuters) - Goldman Sachs Group Inc Chief Executive Lloyd Blankfein's compensation fell 98.4 percent to $1.1 million in 2008, as banks faced huge writedowns and losses due to investments in toxic assets, the fifth largest U.S. bank said on Friday.
Last year, Blankfein received a basic salary of $600,000 and another $277,828 in stock, but he did not receive any bonus or option awards. The year before that, he received a total of $70.3 million.
Blankfein's perks and other benefits in 2008 included $111,223 for personal use of company automobiles and $40,543 in medical and dental plan payments, the filing showed.
New York-based Goldman Sachs reported Blankfein's compensation in a summary table included in a proxy filing on Friday with the U.S. Securities and Exchange Commission.
Goldman received $10 billion of capital from the U.S. government in October, under the Troubled Asset Relief Program. But that money has come with strings attached, including potential executive compensation limits that have made many banks eager to pay taxpayers back as soon as possible. Goldman plans to pay back its $10 billion of TARP money this year.
(Reporting by Juan Lagorio; Editing by Andre Grenon) Keywords: GOLDMANSACHS/BLANKFEIN (juan.lagorio@thomsonreuters.com + 1 646 223 6124) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Last year, Blankfein received a basic salary of $600,000 and another $277,828 in stock, but he did not receive any bonus or option awards. The year before that, he received a total of $70.3 million.
Blankfein's perks and other benefits in 2008 included $111,223 for personal use of company automobiles and $40,543 in medical and dental plan payments, the filing showed.
New York-based Goldman Sachs reported Blankfein's compensation in a summary table included in a proxy filing on Friday with the U.S. Securities and Exchange Commission.
Goldman received $10 billion of capital from the U.S. government in October, under the Troubled Asset Relief Program. But that money has come with strings attached, including potential executive compensation limits that have made many banks eager to pay taxpayers back as soon as possible. Goldman plans to pay back its $10 billion of TARP money this year.
(Reporting by Juan Lagorio; Editing by Andre Grenon) Keywords: GOLDMANSACHS/BLANKFEIN (juan.lagorio@thomsonreuters.com + 1 646 223 6124) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.