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AIG chief holds significant Goldman stock

Although Edward M. Liddy took an annual salary of just $1 for leading American International Group Inc. through the bailout mire last year, he could pocket a few million dollars through his holdings in The Goldman Sachs Group Inc.

Although Edward M. Liddy took an annual salary of just $1 for leading American International Group Inc. through the bailout mire last year, he could pocket a few million dollars through his holdings in The Goldman Sachs Group Inc.
Just prior to joining AIG as its government-installed leader, he was a member of the audit committee and non-employee directorial board at Goldman, another bailout recipient. Both companies are based in New York.
AIG, after receiving more than $180 billion through a government bailout, gave Goldman some $12.9 billion to settle credit default swaps and other transactions backed by the battered insurer.
Mr. Liddy stepped down from his roles at Goldman in September when AIG came calling, but he received $273,718 in cash payments for his work with the banking juggernaut.
Of that, $190,385 was paid in lieu of a prorated annual equity grant, according to Goldman’s 2008 proxy statement filed with the Securities and Exchange Commission.
Mr. Liddy also holds a total of 27,129 shares in Goldman valued at $3.28 million at today’s share price of $120.74. Of that, 18,244 units are restricted stock, which can’t be sold until the end of next month.
AIG spokeswoman Christina Pretto didn’t have additional comment on the details of Mr. Liddy’s compensation at Goldman, and a call to Goldman wasn’t immediately returned.