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Description: CROSS-TRAINING FOR BUSINESS LAWYERS 2021 Series
Episode #1: ESOPs-101
April 8, 2021 at 2:00 PM CST
Employee stock ownership plans (ESOPs) are plans regulated by the Employee Retirement Income Security Act (ERISA) and designed to allow employees to invest in the stock of their employer. The shareholder participants/employees as well as the sponsoring company generally receive tax benefits through the use of the plan. And while they are generally touted as designed to promote employees’ interest and efforts in maximizing the value of the company for the benefit of both employer and employees, ESOPs are often used as a method of corporate finance by the sponsoring company.
This webinar discusses the potential strategies involving, and benefits and consequences to, the sponsoring corporation and employees in implementation and use of an ESOP. It highlights these aspects of tax-qualified ESOPs used in the United States by comparisons to other forms of employee ownership in the U.S. and abroad.
This webinar is delivered in Plain English, understandable to you even if you do not have a background in the subject. It brings you into an engaging, even sometimes humorous, conversation designed to entertain as it teaches. And, it is specifically designed to be viewed as a stand-alone webinar, meaning that you do not have to view the other webinars in the series to get a lot out of it.
Speaker Information
Moderator:
Moderator:
Christopher Cahill, Partner, Sugar Felsenthal Grais & Helsinger LLP
Mr. Cahill is a partner at Sugar Felsenthal Grais & Helsinger LLP, in Chicago, Illinois. He guides secured lenders, creditors, debtors, creditors’ committees, potential purchasers and others through bankruptcy cases, out-of-court workouts, assignments for the benefit of creditors, and receiverships. Mr. Cahill has substantial mega-case experience representing very large debtors, and counsels and litigates on behalf of manufacturers and secured lenders in large and middle-market cases.
Mr. Cahill also publishes frequently and speaks regularly on commercial insolvency issues. For example, he is an executive editor of Commercial Bankruptcy Litigation, 2d Edition (Jonathan P. Friedland, Elizabeth Vandesteeg & Christopher M. Cahill eds., 2020).
Panelists:
Speaker #1
Alan Kandel, Partner, Husch Blackwell Sanders LLP
Alan counsels a wide variety of clients – publicly traded, privately held, tax-exempt and governmental – as they navigate the highly regulated space of Employee Benefits and Executive Compensation. He works closely with clients to design and draft durable and strategic benefit plans that meet compliance benchmarks while aligning with business goals, including:
● Employee stock ownership plans (ESOPs)
● 401(k) and other qualified retirement plans
● Internal Revenue Code section 409A and other laws regulating nonqualified deferred compensation plans for executives
● Equity and phantom equity plans for public and privately held companies
● Welfare and fringe benefit plans
Alan also advises buyers and sellers on employee benefit and executive compensation issues in corporate transactions. When clients face unanticipated examinations or rulings, he defends their interests before the Internal Revenue Service (IRS), Department of Labor (DOL) and Pension Benefit Guaranty Corp (PBGC). Clients appreciate Alan’s collaboration with labor lawyers and investment advisors across the nation thanks to the firm’s coast-to-coast footprint.
Speaker #2
Darren Gleeman, Partner, MBO Ventures
Darren Gleeman is a financial expert. He was the founder of e-Coupons, Managing Partner of both GMD Trading, and GB Trading. He’s highly sought after for his ESOP knowledge and financial acumen, as well as being a prolific angel investor with early investments in companies such as Screaming Media (NASDAQ:SCRM), Blackboard (NASDAQ:BBBB), Social Radar and his latest investments in ClassEdu and Accelerant Manufacturing.
Darren understands finance. Beginning at Wharton, he understood the value of hard work, quantitative modeling and the scientific method. From there, he founded a firm that took the human element out of trading. He transitioned the company into one of the first high frequency trading platforms in the world.
Today, Darren is the managing partner of MBO Ventures (www.mboventures.com). The firm provides ESOP Expertise & will invest it’s capital alongside company owners. MBO implements exit strategies, whether it's for family succession, a management buy-out, or a 100% sale to employees.
Speaker #3
Jennifer Krieger, Director, Weaver
For almost a decade, Jennifer Krieger, CVA, has provided financial reporting, analysis and valuation for clients in a wide range of industries. She is a Certified Valuation Analyst (CVA) with experience valuing businesses for employee stock ownership plans (ESOPs), financial reporting compliance, tax compliance, mergers and acquisitions including fairness opinions, entity dissolution, and litigation. Jennifer earned both master’s and bachelor’s degrees in finance from St. Thomas University in Houston, Texas. She is a member of the National Association of Certified Valuators and Analysts, the National Employee Ownership Center, the ESOP Association and the Association for Corporate Growth.
Speaker #4
Carter Smith, Vice-President, ButcherJoseph & Co.
Carter Smith is a Vice President with ButcherJoseph & Co.’s investment banking team. He has been involved in a variety of transactions including mergers and acquisitions, valuation advisory, and leveraged recapitalizations. His investment banking experience includes engagements for a broad range of industries including healthcare, insurance, and homebuilding.
Before joining the firm, Carter helped launch and raise capital for Arch Grants, a 501(c)(3) initiative that awards capital grants to successful start-up businesses located in the St. Louis area.
After completing secondary education at Eton College in Berkshire, England, Carter earned a Bachelor of Arts in biology from Princeton University. He also holds a Master of Business Administration degree in entrepreneurship and marketing from Washington University’s Olin School of Business.
 | | Practice Areas: | | Business Organizations & Contracts, Employee Benefits & Compensation | | | Online Media Type: | | Audio | | | Production Date: | | 04/08/2021 3:00 PM EDT | | | Level: | | Intermediate | | | Category: | | Standard | | | Duration: | | 1 Hours, 0 Minutes | | | Online Format: | | Live | | | Course Type: | | Public |
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| | • | Christopher Cahill - Sugar Felsenthal Grais & Helsinger LLP | | • | Alan H. Kandel - Husch Blackwell, St. Louis | | • | Darren Gleeman - Partner, MBO Ventures | | • | Jennifer Krieger - Director, Weaver | | • | Carter Smith - Vice-President, ButcherJoseph & Co. |
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