M&A - GOLDMAN SACHS TRUST

Form Type: 425

Filing Date: 2025-06-20

Corporate Action: Merger

Type: New

Accession Number: 000119312525143693

Filing Summary: On June 20, 2025, Goldman Sachs Trust's Board of Trustees approved Agreements and Plans of Reorganization, which involve the conversion of the Goldman Sachs Enhanced U.S. Equity Fund and Goldman Sachs Strategic Growth Fund into newly-created ETF series, namely the Goldman Sachs Enhanced U.S. Equity ETF and Goldman Sachs Growth Opportunities ETF. The reorganization, set to close around November 14, 2025, will entail the transferring of all assets from the Acquired Funds to their corresponding Acquiring Funds. Shareholders will receive shares equivalent in aggregate net asset value to those held in the Acquired Funds, with stipulations for fractional shares. Existing shareholders must hold shares through brokerage accounts that can accommodate ETF investments; otherwise, they may face liquidation or cash equivalent distributions. The reorganization is expected to be tax-free, except for cash exchanged for fractional shares or paid to cash-out shareholders. Important dates include closing to new shareholders on July 18, 2025, and the final date for exchanges or redemptions on November 13, 2025. Shareholders without the correct account types are advised to consult their financial intermediaries to ensure proper handling before the reorganization.

Form Type: 425

Filing Date: 2025-06-20

Corporate Action: Merger

Type: New

Accession Number: 000119312525143696

Filing Summary: On June 20, 2025, Goldman Sachs Trust's Board of Trustees approved an Agreement and Plan of Reorganization to merge the Goldman Sachs Focused Value Fund into the newly created Goldman Sachs Value Opportunities ETF. This reorganization aims to transition the investment strategy of the Acquired Fund to an ETF format, believed to serve shareholders better. Upon completion, all assets of the Acquired Fund will be transferred to the Acquiring Fund, followed by the liquidation of the Acquired Fund. Shareholders will receive shares of the Acquiring Fund equivalent to the net asset value (NAV) of their holdings, with provisions for fractional shares to be paid in cash. Shareholders must ensure their accounts are eligible for ETF shares to participate in the merger. Specific guidance is provided for various account types, including those with transfer agents, IRAs, and brokerage accounts. The expected closing date for the reorganization is around November 14, 2025, subject to certain conditions but not requiring shareholder approval. Tax implications for cash received and potential capital gains distributions are noted. Additional details about redemption and exchanges before the merger are available, emphasizing the importance of shareholder action for those in non-eligible accounts.

Form Type: 425

Filing Date: 2025-06-20

Corporate Action: Merger

Type: New

Accession Number: 000119312525143705

Filing Summary: On June 20, 2025, Goldman Sachs Trust filed a prospectus supplement regarding the reorganization of the Goldman Sachs Technology Opportunities Fund into the Goldman Sachs Technology Opportunities ETF. The reorganization, approved by the Board of Trustees and recommended by Goldman Sachs Asset Management, is designed to better position the fund's investment strategy in an ETF format. The transfer of assets from the Acquired Fund to the Acquiring Fund is set to close on or about December 5, 2025, whereafter the Acquired Fund will be liquidated. Shareholders are informed that to receive shares of the Acquiring Fund, they must hold their assets in a brokerage account able to accommodate ETF shares, with specific guidance provided for various types of shareholders, including those with IRAs or institutional accounts. Importantly, the reorganization is intended to qualify as a tax-free event, although certain cash payments may incur taxes. Shareholders need to take the necessary steps to ensure they comply with these changes before the closing date, and information regarding the reorganization will be shared with current shareholders through an information statement/prospectus.

Form Type: 497

Filing Date: 2025-06-20

Corporate Action: Merger

Type: New

Accession Number: 000119312525143668

Filing Summary: The Board of Trustees of the Goldman Sachs Trust has approved Agreements and Plans of Reorganization for the Goldman Sachs Enhanced U.S. Equity Fund and Goldman Sachs Strategic Growth Fund to merge into the newly created Goldman Sachs Enhanced U.S. Equity ETF and Goldman Sachs Growth Opportunities ETF. This reorganization is aimed at enhancing investment strategies in an ETF format, with a projected closing date of approximately November 14, 2025. Shareholders will receive shares of the respective Acquiring Funds, equivalent to the net asset value of their shares in the Acquired Funds. Further guidance is provided for shareholders holding shares in non-eligible accounts and details about potential taxable events for cash received in lieu of fractional shares. Several timelines are outlined, including closure to new shareholders by July 18, 2025, and details rendering no sales charges for certain shares beginning June 20, 2025. Existing shareholders may continue to reinvest dividends until November 10, 2025, and must take specific actions if they wish to maintain their investment during the reorganization.

Form Type: 497

Filing Date: 2025-06-20

Corporate Action: Merger

Type: New

Accession Number: 000119312525143674

Filing Summary: On June 20, 2025, Goldman Sachs Trust announced an agreement to reorganize the Goldman Sachs Focused Value Fund (the Acquired Fund) into the Goldman Sachs Value Opportunities ETF (the Acquiring Fund). This reorganization aims to enhance the investment strategy of the Acquired Fund by transitioning to an exchange-traded fund (ETF) structure. The transaction will involve transferring all assets from the Acquired Fund to the Acquiring Fund, which will also assume all liabilities. Following the transfer, the Acquired Fund will be liquidated, and shareholders will receive shares of the Acquiring Fund with an aggregate net asset value equivalent to their holdings in the Acquired Fund on the closing date, expected on or about November 14, 2025. The reorganization is intended to be a tax-free event for shareholders, although some cash payments in lieu of fractional shares may be taxable. Additionally, various provisions for shareholders regarding their accounts before the reorganization are outlined, including the necessity for those without eligible brokerage accounts to transfer their shares. Shareholders who do not want to automatically become Acquiring Fund shareholders have the option to redeem or exchange their shares before November 13, 2025, although such actions may trigger tax implications. The measure was unanimously approved by the Board of Trustees after careful consideration of its benefits to shareholders.

Form Type: 497

Filing Date: 2025-06-20

Corporate Action: Merger

Type: New

Accession Number: 000119312525143676

Filing Summary: On June 20, 2025, the Board of Trustees of the Goldman Sachs Trust approved an Agreement and Plan of Reorganization to convert the Goldman Sachs Technology Opportunities Fund (the 'Acquired Fund') into the Goldman Sachs Technology Opportunities ETF (the 'Acquiring Fund'). The reorganization is intended to better position the investment strategy of the Acquired Fund in an ETF format and was recommended by Goldman Sachs Asset Management, L.P. The reorganization is expected to close around December 5, 2025. The Acquired Fund will transfer its assets to the Acquiring Fund, which will assume its liabilities. Shareholders will receive shares of the Acquiring Fund equivalent to the net asset value (NAV) of their Acquired Fund shares on the Closing Date. Shareholders must hold shares through a brokerage account that allows ETF shares to participate. Effective from June 20, 2025, certain fees will be waived, and the Acquired Fund will close to new shareholders on July 18, 2025, but existing shareholders can still purchase shares until December 1, 2025. Shareholders should consult tax advisers regarding any tax consequences that may arise from this reorganization. An information statement/prospectus will be filed with the SEC detailing the merger.

Form Type: 497K

Filing Date: 2025-06-20

Corporate Action: Merger

Type: New

Accession Number: 000119312525143680

Filing Summary: On June 20, 2025, the Board of Trustees of Goldman Sachs Trust approved Agreements and Plans of Reorganization for the Goldman Sachs Enhanced U.S. Equity Fund and Goldman Sachs Strategic Growth Fund, which will merge into the newly-created Goldman Sachs Enhanced U.S. Equity ETF and Goldman Sachs Growth Opportunities ETF, respectively. The reorganizations, recommended by Goldman Sachs Asset Management, are expected to provide better positioning for the investment strategies of the Acquired Funds in ETF formats. The closing date is anticipated to be around November 14, 2025. Shareholders will receive shares in the Acquiring Funds equal in value to their holdings on the closing date. Cash will be provided for fractional shares, and existing shareholders must ensure their accounts can accept ETF shares to participate. The reorganizations aim to qualify as tax-free for federal income tax purposes, except for certain cash distributions. Notably, from June 20, 2025, contingencies like suspended sales charges on Class A and Class C Shares are put in place and fund purchases will close to new shareholders by July 18, 2025, with significant deadlines for exchanges and redemptions leading up to the merger.

Form Type: 497K

Filing Date: 2025-06-20

Corporate Action: Merger

Type: New

Accession Number: 000119312525143683

Filing Summary: On June 20, 2025, Goldman Sachs Trust announced a reorganization plan approved by its Board of Trustees, which involves merging the Goldman Sachs Enhanced U.S. Equity Fund and Goldman Sachs Strategic Growth Fund into two newly created exchange-traded funds (ETFs): the Goldman Sachs Enhanced U.S. Equity ETF and Goldman Sachs Growth Opportunities ETF. This change is facilitated by the belief that the investment strategy of the Acquired Funds would perform better in an ETF format. The reorganizations are expected to close on or about November 14, 2025, whereupon the Acquired Funds will transfer all assets to the corresponding Acquiring Funds, with shareholders receiving shares equal in aggregate net asset value (NAV) on the Closing Date. Details regarding the need for shareholders to hold their shares through brokerage accounts capable of accommodating ETF shares were provided, including tax implications for cash received in lieu of fractional shares. The document highlights the abolishment of various sales charges effective from June 20, 2025, and specifies key dates leading up to the reorganization, including the final date for existing shareholders to redeem or exchange their shares by November 13, 2025. Shareholders are advised to consult their financial intermediaries regarding necessary actions to be taken prior to the reorganizations to ensure they do not miss the opportunity to receive shares of the Acquiring Funds.

Form Type: 497K

Filing Date: 2025-06-20

Corporate Action: Merger

Type: New

Accession Number: 000119312525143687

Filing Summary: On June 20, 2025, Goldman Sachs Trust announced a reorganization plan to convert the Goldman Sachs Focused Value Fund (the 'Acquired Fund') into the Goldman Sachs Value Opportunities ETF (the 'Acquiring Fund'). The Acquiring Fund, a new series of the Goldman Sachs ETF Trust, will be managed similarly to the Acquired Fund, with the reorganization expected to close around November 14, 2025. Shareholders of the Acquired Fund will receive shares of the Acquiring Fund equal in aggregate net asset value (NAV) to their holdings, with fractional shares exchanged for cash. Important actions are required for those holding shares in accounts that cannot accommodate ETF shares. The reorganization aims to position the investment strategy of the Acquired Fund more effectively in an ETF format, and is anticipated to qualify as a tax-free reorganization for federal income tax, although cash payments for fractional shares will be taxable. Key dates include November 10, 2025, after which purchasing or exchanging shares of the Acquired Fund will cease, and a final deadline of November 13, 2025, for redeeming shares. Shareholders are encouraged to consult their tax advisors regarding implications of the reorganization.

Form Type: 497K

Filing Date: 2025-06-20

Corporate Action: Merger

Type: New

Accession Number: 000119312525143691

Filing Summary: The Board of Trustees of the Goldman Sachs Trust has approved an Agreement and Plan of Reorganization, which entails the conversion of the Goldman Sachs Technology Opportunities Fund (the Acquired Fund) into the Goldman Sachs Technology Opportunities ETF (the Acquiring Fund). This reorganization is supported by Goldman Sachs Asset Management as a means to better position the investment strategy in an ETF format. The process is set to close on or about December 5, 2025, with the Acquired Fund transferring all its assets to the Acquiring Fund, which will inherit its liabilities. Existing shareholders will receive shares of the Acquiring Fund equivalent to the net asset value of their holdings in the Acquired Fund on the Closing Date, and fractional shares will be compensated with cash, potentially incurring tax liabilities. Shareholders must ensure their accounts can accept ETF shares to participate in the reorganization, else their shares may be liquidated in a taxable event. The reorganization is expected to qualify as a tax-free exchange for federal income tax purposes, aside from specified cash payments. Additionally, effective June 20, 2025, various charges on the Acquired Fund will be waived, and shareholders will need to act prior to set key dates to avoid liquidation. An information statement/prospectus relating to this reorganization will be provided to shareholders shortly before the reorganization date.

Form Type: POS EX

Filing Date: 2025-05-07

Corporate Action: Merger

Type: New

Accession Number: 000119312525115057

Filing Summary: This filing is a Form N-14 Registration Statement under the Securities Act of 1933, in connection with the reorganization of Goldman Sachs U.S. Equity ESG Fund with and into Goldman Sachs Enhanced U.S. Equity Fund. The document outlines the legal aspects related to tax matters affecting shareholders as part of this merger, and it serves to fulfill the requirements imposed by the SEC's regulations. It references prior filings including a Combined Information Statement/Prospectus and includes various amendments and indemnification provisions related to the trust and its management agreements. This amendment is noted to be a post-effective amendment number 1, indicating a continuation and update to the registration process for the Trust.

Form Type: N-14

Filing Date: 2025-02-24

Corporate Action: Merger

Type: New

Accession Number: 000119312525032139

Filing Summary: On February 11-12, 2025, the Board of Trustees of the Acquired Fund (Goldman Sachs U.S. Equity ESG Fund) approved a reorganization where the Acquired Fund will merge with the Goldman Sachs Enhanced U.S. Equity Fund, referred to as the Surviving Fund. This merger is deemed to be in the best interests of the shareholders as it is expected to enhance operational efficiencies, reduce expenses, and provide better asset growth potential. The reorganization is scheduled to occur on or about April 25, 2025. Shareholders of the Acquired Fund will automatically receive shares of the Surviving Fund equivalent in value to their holdings in the Acquired Fund without incurring any transaction fees. The reorganization is intended to be tax-free for federal income tax purposes, and shareholders have been expressly informed that no action is required on their part regarding the merger.

Form Type: 497

Filing Date: 2025-02-14

Corporate Action: Merger

Type: New

Accession Number: 000119312525026933

Filing Summary: The Board of Trustees of Goldman Sachs Trust approved a Plan of Reorganization for the Goldman Sachs U.S. Equity ESG Fund. This plan involves merging the Acquired Fund with the Goldman Sachs Enhanced Core Equity Fund. The reorganization aims to rationalize the funds sharing the same investment objectives, enhance operational efficiency by potentially lowering expenses, and better position the combined fund for asset growth. As part of the merger, the Acquired Fund will transfer its assets to the Surviving Fund, which will assume its liabilities. The Acquired Fund will then be liquidated, and its shareholders will receive shares of the Surviving Fund equivalent in value to their holdings in the Acquired Fund. This reorganization is intended to be tax-free for federal income tax purposes and is scheduled to close around April 25, 2025. Key conditions must be met for completion, but shareholder approval is not required. As of February 14, 2025, the Acquired Fund may change its investment policies in preparation for the merger, possibly incurring capital gains and producing taxable capital gain distributions. Existing shareholders can continue transactions until March 21, 2025, after which new purchases in the Acquired Fund will be suspended until the merger is finalized.

Form Type: 497K

Filing Date: 2025-02-14

Corporate Action: Merger

Type: New

Accession Number: 000119312525026937

Filing Summary: On February 14, 2025, Goldman Sachs Trust announced a plan for the reorganization of the Goldman Sachs U.S. Equity ESG Fund into the Goldman Sachs Enhanced Core Equity Fund. This merger, recommended by Goldman Sachs Asset Management, aims to enhance efficiency and asset growth by combining funds within the same Morningstar category. The reorganization involves transferring all assets and assuming liabilities of the Acquired Fund, which will be liquidated, leaving shareholders of the Acquired Fund to become shareholders of the Surviving Fund. They will receive equivalent shares based on net asset value. The reorganization is targeted to close around April 25, 2025, and is designed to qualify as tax-free for federal income tax purposes. Shareholders are advised that the Acquired Fund may begin adjusting its investment objectives in preparation for this merger, which is anticipated to result in a higher portfolio turnover and capital gains distributions to taxable shareholders. Existing shareholders will receive detailed information about the merger, and from February 14, 2025, until the reorganization's effective time, they can continue to redeem and exchange shares without incurring a Contingent Deferred Sales Charge.