ESOP Legal

In non-public ESOP companies, voting rights on shares allocated to ESOP accounts must be passed through to ESOP participants for votes on major corporate matters...

Who are ESOP fiduciaries, what are their responsibilities and how do they get appointed?

Any person with discretion over the management or administration of a plan, or who exercises any authority or control over plans assets, is a fiduciary under ERISA. The ESOP trustee, or any other person or committee designated in the plan documents as responsible for making investments in company stock, is a named fiduciary.

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Who votes the shares held in the ESOPs?

The Code requires that company stock in the ESOP must have full voting rights. In non-public ESOP companies, voting rights on shares allocated to ESOP accounts must be passed through to ESOP participants for votes on major corporate matters such as a merger or consolidation, recapitalization, reclassification, liquidation, dissolution, or sale of substantially all of…

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Corporate Governance of ESOP Companies

Without the founding entrepreneur steering the ship, ESOP companies’ corporate governance is of paramount importance. In this webinar, you will learn: the roles of trustees, directors and officers, how corporate governance affects value, and best practices for corporate governance in ESOP companies.

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DOL Investigations of ESOP Companies

What triggers a DOL Investigation? How should you respond to an investigation notice? Steve Greenapple addresses these and other questions, from the steps involved from first notice to resolution, to the problems with which the DOL is concerned. Presented by Steven B. Greenapple, Shareholder – Steiker, Greenapple, & Fusco, P.C.

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ESOP Legal Pitfalls

Whether you have recently adopted an ESOP, have been an ESOP company for years, or are now looking to implement an ESOP transition strategy, this webinar provides useful information on how to identify – and avoid – common red flags in your ESOP transaction documentation and plan operation.

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ESOP Fiduciary Committees

Co-authored by Jim Steiker, this article reviews the legal standards that govern ESOP committees. Published 2004 in the Journal of Employee Ownership Law and Finance Is an ESOP right for your company? Use our ESOP self-assessment tool to find out. Explore various Ownership Transition Options or replay our Introduction to ESOPs webinar.

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ESOP Participants and Shareholder Rights

Jim Steiker wrote this chapter from the book “ESOPs and Corporate Governance.” Is an ESOP right for your company? Use our ESOP self-assessment tool to find out.

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Legal Update

Steve Greenapple addresses breach of fiduciary duty and federal common law fraud by participants who transferred their 401(k) account balances to an ESOP, against the sponsor of the Plans, fiduciaries of the Plans and the ESOP’s financial advisor.

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