SEATTLE, WA, April 26-28, 2022 – Edward C. Renenger and James G. Steiker of SES ESOP Strategies presented at the 2022 Employee Ownership Conference, hosted by The National Center for Employee Ownership (NCEO), held in Seattle, Washington on April 26-28.
Mr. Renenger was joined by Chad Bell, ASA, Manager at Marcum LLP, and Miguel Paredes, President and Founder of Prudent Fiduciary Services, LLC, in presenting “Negotiating an ESOP Transaction: Common Term Sheet Factors and What They Mean.” The presentation explored and aanalyzed the common terms and negotiating factors of the term sheet and how they affect the outcome of the ESOP.
Mr. Steiker was joined by Merri Ash, President of Internal Trustee, LLC, and Dawn Goestenkors, Executive Vice President of TI-Trust, in presenting “Board Monitoring of Trustees.” Discussion focused compliance strategies and approaches to documenting that mutual monitoring takes place between trustees and boards of directors – a process required by law.
As President and CEO of SES ESOP Strategies and Co-Chair of the ESOP Group and the Employee Benefits and Executive Compensation Group at Stevens & Lee, Mr. Renenger advises business owners on how to sell their companies to employees through an ESOP and provides guidance across the entirety of the process – from feasibility assessments and establishing stakeholder structures to transactions and ongoing company administration.
Mr. Renenger also advises other ESOP-related transactions, including situations where ESOP-owned companies sell to outside buyers when they have determined that exiting the ESOP structure is appropriate for shareholders. He has particular experience working with ESOPs for financial institutions, such as community banks looking to an ESOP as a source of liquidity for founding shareholders and insurance companies who establish an ESOP in conjunction with a demutualization.
When not working with ESOPs, Mr. Renenger advises clients on the structure and compliance of defined benefit pension plans and defined contribution plans, including 401(k) plans, especially in complex matters involving the Internal Revenue Service, the U.S. Department of Labor and the Pension Benefit Guaranty Corporation.
As Chairman of SES ESOP Strategies, Mr. Steiker focuses on ESOP design, transactions and compliance in entrepreneurial companies. He is a corporate, pension and tax attorney and financial advisor with more than 35 years of experience in ESOPs and other employee ownership matters.
Mr. Steiker has served on the ESOP Association Board of Governors and is a past Chair of the ESOP Association’s Advisory Committee on Finance. He is also a Trustee of the Employee Ownership Foundation and a former member of the Board of Directors of the National Center for Employee Ownership. He is a director of the Employee Ownership Expansion Network and also serves as a Director of seven ESOP companies.
As a thought leader in his field, Mr. Steiker has contributed to numerous National Center for Employee Ownership publications and has authored articles for many trade journals. He presents regularly on ESOP topics to the annual and regional meetings of the ESOP Association and the National Center for Employee Ownership, ESOP state employee ownership center conferences, and to general and professional audiences. Mr. Steiker holds a J.D. from the New York University School of Law and a B.A. from Wesleyan University.