Goldman share price
mid
Targets vs service pledges
cleared
miss / weak
on track
beat / strong
Payment plumbing: the announced total split into a guaranteed slice, a paid-in-stock slice, and a contingent earnout
announced total
guaranteed upfront
small · fixed
paid in stock
most of the deal
earnout
long-dated targets
targets
met?
buyer sets the mechanics
what actually lands
guaranteed piece
100%
stock piece
60%
earnout piece
60%
realized vs. headline
68%
strong GS equity
buyer: cheap currency
seller: price risk
what lands depends on both the targets and the GS share price