Form DEFA14A GOLDMAN SACHS VARIABLE

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A INFORMATION

Proxy Statement Pursuant to Section 14(a) of the

Securities Exchange Act of 1934

(Amendment No.  )

Filed by the Registrant ☒

Filed by a party other than the Registrant ☐

Check the appropriate box:

GOLDMAN SACHS ETF TRUST

GOLDMAN SACHS TRUST

GOLDMAN SACHS VARIABLE INSURANCE TRUST

(Name of Registrant as Specified in Its Charter)

(none)

(Name of Person(s) Filing Proxy Statement, if Other Than the Registrant)

Payment of Filing Fee (Check the appropriate box):

		Goldman Sachs Asset Management, L.P. | 200 West Street | New York, New York 10282

April 6, 2026

Re: Sub-Classification Change For Certain Funds

Dear Client,

We would like to inform you that Goldman Sachs Asset Management, L.P. is seeking shareholder approval to change the sub-classification of several equity mutual funds and ETFs from “diversified” to “non-diversified” under the Investment Company Act of 1940, as amended. The funds in scope include:

Goldman Sachs ETF Trust

Goldman Sachs Trust

Goldman Sachs Variable Insurance Trust

The transition to a “non-diversified” status provides the portfolio management teams with greater flexibility to execute their investment strategy and add to high-performing positions instead of capping those positions to remain compliant with diversification rules.

The proposed update does not represent any material change to investment strategy, risk profile, or philosophy of any of the funds in scope.

Proxy statements are anticipated to have been sent to shareholders on or around March 27, 2026. If approved by shareholders, the change in sub-classification is expected to become effective on June 12, 2026.

Should you have any questions, please do not hesitate to contact us.

Regards,

Goldman Sachs Asset Management, L.P.

Confidentiality: No part of this material may be (i) copied, photocopied or duplicated in any form, by any means, or (ii) distributed to any person that is not an employee, officer, director, or authorized agent of the recipient, without Goldman Sachs Asset Management’s prior written consent.

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