Goldman Sachs (GS) is locking in CEO David Solomon for at least another five years with a sweet stock deal — along with a big, annual pay increase.

Goldman Sachs gave Chief Executive David Solomon an $80 million bonus to stay for five more years, ending any lingering questions about his grasp on the Wall Street giant. Solomon had a bruising couple of years at Goldman that cast his longevity as CEO into doubt among many partners after taking over in 2018.

NEW YORK (Reuters) -Goldman Sachs raised CEO David Solomon's compensation by 26% to $39 million for last year, according to a filing, and its board lined up an $80 million stock retention bonus that signals he will stay at the helm for another five years.

Goldman Sachs handed its top two executives retention awards worth $129 million to encourage them to keep working at the firm for another five years.

Retention bonus, and big pay raise, quell any more questions about the CEO’s ability to stay in place

Goldman Sachs raised CEO David Solomon's compensation 26% to $39 million for last year, according to a filing, and its board lined up an $80 million stock retention bonus that signals he will stay at the helm for another 5 years.

The Board of Goldman Sachs has decided to increase the total annual compensation for CEO David Solomon to $39 million for 2024, up from $31 million in 2023, based on the recommendation of the Compensation Committee.