READING AND BALA CYNWYD, PA, April 3, 2019 – Edward C. Renenger, COO, and Sean-Tamba Matthew of SES ESOP Strategies spoke at The ESOP Association’s Pennsylvania/Delaware Chapter Annual Spring Conference on March 27-28, 2019, in State College, PA.
Mr. Renenger co-presented “ESOP Distribution Rules, Solutions and Strategies.” The presenters discussed allowable distribution provisions, paying distributions in stock vs. cash, offering lump sum windows and tightening distribution provisions. The speakers also provided strategies to reduce the administrative burden of processing distributions.
Mr. Matthew provided a legal and regulatory update in which he reviewed cases — including Department of Labor and employee suits against ESOP companies, committees and trustees —and other legal developments over the past year. Mr. Matthew was also a co-host of the general session, “ESOP Jeopardy,” that was held on the first day of the conference.
In addition to his role as COO of SES ESOP Strategies, Mr. Renenger is Co-Chair of the ESOP Group and the Employee Benefits and Executive Compensation Group at Stevens & Lee, an affiliated company of SES ESOP Strategies. In this capacity, he assists companies in navigating the complexities of ESOPs, and advises business owners on how to sell their companies to employees through an ESOP, as well as other ESOP-related transactions.
He works with the entire range of ESOP-owned companies, including S Corporations, C Corporations, private companies, publicly traded companies, companies that are wholly owned by the ESOP trust and companies in which the ESOP is a minority owner. Mr. Renenger also counsels ESOP trustees on their fiduciary obligations under ERISA in ESOP-related transactions and when unique situations arise in an already established ESOP.
He holds a J.D., magna cum laude, Order of the Coif, from Georgetown University Law Center and a B.A., First in Class, summa cum laude, Phi Beta Kappa, from The Catholic University of America.
Mr. Matthew advises companies, business owners, boards of directors and ESOP trustees on transactional, corporate governance and formation matters related to the design and implementation of ESOPs. His work includes drafting and negotiating agreements and other documents for stock purchases, leveraged buyouts, mergers, reorganizations and corporate governance and formation matters.
He has a J.D. from Temple University School of Law and a B.A. in Political Science from the University of Pennsylvania.