ESOPs as a Succession Planning Tool: Delivering Meaningful Benefits to Participants, Complying With ERISA Requirements
Recording of a 90-minute CLE video webinar with Q&A
This CLE course will provide corporate counsel to small and closely-held businesses with an overview of employee stock ownership plans (ESOPs) as an option for succession planning. The panel will discuss how to develop an ESOP that maximizes the potential of ESOPs in succession planning, delivers benefits to participants, and follows all ERISA requirements.
- ESOP formation Post-COVID-19
- Recent regulatory trends and developments
- Legal risks and challenges
- Practical tips and best practices
The panel will review these and other important topics:
- When should a business owner consider an ESOP as part of succession planning?
- What types of businesses are most compatible with an ESOP as succession planning?
- How can a business establish senior management as part of an ESOP and provide separate incentives to such team members?
- How does the need for motivated sellers affect the use of an ESOP?
David R. Johanson
Hawkins Parnell & Young
Mr. Johanson assists clients in general corporate matters and in employee ownership, benefit, ERISA, and related... | Read More
Mr. Johanson assists clients in general corporate matters and in employee ownership, benefit, ERISA, and related business matters, with an emphasis on executive compensation, equity incentive plans, non-qualified deferred compensation, ESOPs, ESOP transactions, mergers and acquisitions and related tax planning, and business succession and estate planning. He defends ERISA fiduciaries, plan sponsors, selling shareholders, and investment advisers in ERISA litigation matters involving ESOPs and business transactions in federal and state courts throughout the country in a wide range of controversies covering ERISA fiduciary responsibilities, ESOP valuation disputes, disclosure obligations, investment issues, and tax matters. He has extensive experience in negotiating ESOP, ERISA, and other issues with government regulatory agencies and in representing ERISA fiduciaries in litigation. Recognized nationally for his experience and expertise in the ESOP and executive compensation field, he is a past chair of the legislative and regulatory advisory committee of The ESOP Association.Close
Matthew J. Silla, ASA, CFA
Senior Manager, Business Valuation
Apple Growth Partners
As an Accredited Senior Appraiser, Mr. Silla has been responsible for the development of several hundreds of business... | Read More
As an Accredited Senior Appraiser, Mr. Silla has been responsible for the development of several hundreds of business valuation engagements for a variety of businesses and ownership interests covering various industries. He has more than 15 years of professional experience and has focused exclusively on valuation services since 2004. Mr. Silla is a member of The ESOP Association and the Ohio Employee Ownership Center. He has made numerous presentations on the topic of business valuation over the years. Most recently, he co-presented a webinar for the Ohio Employee Ownership Center. The program was titled “What Drives Share Price in Your ESOP Company.”Close
Stephen P. Wilkes
The Wagner Law Group
Mr. Wilkes heads the firm's Investment Management Law practice. He also is a Practice Group leader for the... | Read More
Mr. Wilkes heads the firm's Investment Management Law practice. He also is a Practice Group leader for the firm’s ERISA Fiduciary Compliance and Independent Fiduciary practices. Mr. Wilkes advises a national client base of mutual funds, CIFs, private funds, registered investment advisers, insurance companies, broker dealers, wealth management firms, banks, trust companies, third-party platform providers, Taft Hartley Funds and plan sponsors on ERISA, tax, and related securities law issues. He counsels clients regarding ERISA fiduciary and prohibited transaction issues, investment matters, alternative investments, securities law issues, federal tax issues, and the employee benefits aspects of bankruptcy and related financial restructurings, reorganizations and liquidations. Mr. Wilkes interacts with regulatory agencies and congressional staff on legislative and regulatory issues involving the DOL, SEC, IRS, PBGC and OCC. He has extensive experience in handling audits by the DOL, the IRS, and the SEC. He gives advice and counseling with respect to retirement plan services agreements, investment management agreements, DOL regulations, SEC regulations, federal legislative activity, qualified employee pension plans, ERISA litigation, Collective Investment Funds, off-shore investment advisers, Sales and Marketing Distribution Agreements and Wrap-Fee Programs.Close