Newmark’s Barry Gosin earned $30M in 2015

Majority of compensation was paid as an advance against future incentive payments

TRD New York /
Oct.October 24, 2017 05:00 PM

Barry Gosin (Credit: Getty Images)

Newmark Knight Frank CEO Barry Gosin earned nearly $30 million in 2015, though the vast majority was paid as stock in an advance against future incentive payments, filings with the U.S. Securities and Exchange Commission show.

Gosin, who’s served as CEO of the brokerage since 1979, received a base salary of $475,000 in 2015, as well as a bonus of $2.3 million and $2.59 million worth of commissions, according to the prospectus Newmark filed Monday ahead of its planned initial public offering.

The 67-year-old brokerage chief also received a one-time, $24 million grant as an advance on payments that will be drawn down over the following years, filings show.

The grant, along with a similar one made the previous year, was “based on Mr. Gosin’s estimated target bonus in future years,” the prospectus explained.

Absent a grant bonus in 2016, Gosin’s compensation dropped to a little more than $989,000 for the year, roughly half of which was earned on commissions. Gosin couldn’t be immediately reached for comment.

In a spinoff from Wall Street veteran Howard Lutnick’s BGC Partners, Newmark filed initial paperwork for an IPO that looks to raise $100 million.

Gosin, the filings show, is under a one-year contract expiring next October that renews unless terminated 90 days in advance. He’s subject to a 24-month noncompete agreement, during which time Newmark would be required to pay him up to $2 million.


Related Articles

arrow_forward_ios
Dan GIlbert (Getty, iStock)

Mortgage mogul Dan Gilbert sees net worth quicken to $34B

Mortgage mogul Dan Gilbert sees net worth quicken to $34B
28 Liberty Street (Wikipedia)

Manhattan’s office leasing sees busiest month since January

Manhattan’s office leasing sees busiest month since January
Maison Kayser (Photo via Tools of Men via Flickr)

Maison Kayser may bid New York adieu

Maison Kayser may bid New York adieu
Newmark’s Brian Waterman with 7 Hanover Square (Google Maps, Twitter)

Newmark nabs REBNY prize for deal with NYC Health + Hospitals

Newmark nabs REBNY prize for deal with NYC Health + Hospitals
Dan Gilbert (Getty, iStock)

Parent of Quicken Loans, Rocket Mortgage seeks $3.3B in IPO

Parent of Quicken Loans, Rocket Mortgage seeks $3.3B in IPO
The legislation from a City Council member introduced a bill to temporarily repeal the commercial rent tax for businesses during the Covid-19 state of emergency. (Getty, iStock)

Commercial rent tax cut introduced in City Council

Commercial rent tax cut introduced in City Council
Michael Rudder, James Nelson, 141 Wooster Street and 633 Third Avenue (Google Maps)

The Outlook: Industry experts break down Manhattan’s office condo market

The Outlook: Industry experts break down Manhattan’s office condo market
Peter Nicoletti and Colliers' David Amsterdam

Colliers taps JLL’s Peter Nicoletti to lead capital markets

Colliers taps JLL’s Peter Nicoletti to lead capital markets
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...