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Second-Stage ESOP Transactions

NCEO Webinar replays are the recorded version of our live Webinars, using PowerPoint presentations viewed online. To purchase a twelve-month subscription providing unlimited access to all recorded Webinars, including this one, follow this link. (Replays are not available for individual purchase.) Please contact Colleen Kearney at 510-208-1311 or for additional information.

This replay was recorded on June 14, 2016.

About This Meeting

Most ESOPs purchase shares from owners in more than one transaction. Whether your company is planning such a transaction, or just starting an ESOP that will be done in stages, this Webinar will help you understand the key legal, valuation, and financial issues involved. Topics will include seller versus bank financing, whether the ESOP can pay for control in multi-stage transactions, how to deal with the impact of debt on the account value of existing employees after a second transaction, and how to help employees understand the implications of a second transaction.

You will learn:


David Solomon
Levenfeld Pearlstein, LLC
Financial and Administrative Issues
Michael McGinley, Prairie Capital Advisors, Inc.


Michael J. McGinley

presenter photologo

Prairie Capital Advisors, Inc.

Michael operates out of and manages Prairie Capital Advisors' Atlanta office. He specializes in all aspects of ownership transition financial advisory services to business owners, boards of directors and trustees, including employee stock ownership plans (ESOPs), mergers and acquisitions (M&A), capital raising, the valuation of businesses and business interests for gift and estate tax planning, strategic planning, financial accounting and reporting, buy-sell agreements, and dispute resolution. He currently serves as a member of the ESOP Association's Valuation Advisory Committee.

David Solomon

presenter photo

Levenfeld Pearlstein, LLC

David is the chair of Levenfeld Pearlstein's corporate and securities group. David also serves as head of the firm's ESOP practice, which serves clients who are involved in various types of transactions involving ESOPs. In addition to working on ESOP transactions and advising ESOP companies, David serves on the board of directors of the NCEO and formerly served as the executive vice president of the Illinois chapter of the ESOP Association.