Is an ESOP Right for You? An In-Depth Look at Employee Stock Ownership Plans
February 7–8, 2018 :: Scottsdale, AZ
About This Meeting
Enhance your company's legacy and benefits plan with an ESOP- the most tax-efficient method of exit planning. You will learn: Valuation and Financing, Legal Issues and Plan Design, Issues for Selling Shareholders and Communication and Ownership Culture.
This event has already taken place. Please see our upcoming in-person meetings and Webinars.
February 7, 2018
Welcome and Introduction
Loren Rodgers, NCEO
An ESOP Company Perspective
Dave Miller and Diane Bujnovsky, Jokake Construction Services
ESOP Transaction Structures
Mark Welker, Husch Blackwell LLP
Assessing ESOP Feasibility
Steven M. Etkind, Sadis & Goldberg LLP
Table Talks: Roundtable Discussion Groups
Plan Design and Operation
Bryan Golden, Private Capital Corporation
Adjourn: Join your co-attendees and presenters for wine and cheese and get those last-minute questions answered
February 8, 2018
Welcome and Recap
Loren Rodgers, NCEO
Determining Stock Value
Chuck Coyne, Empire Valuations Consultants, LLC
Financing an ESOP
Kenneth E. Serwinski, Prairie Capital Advisors, Inc.
Merri E. Ash, First Bankers Trust Services
Lunch with the Experts
Incentive Compensation for ESOP Companies
Jamie Zveitel Kwiatek, Polsinelli
Alternatives to an ESOP
Greg Fresh, Chartwell
Investing the 1042 Rollover
Doug Pugliese, Alpha Architect
Ownership Communications and Culture, Recent Research
Loren Rodgers, NCEO
Merri E. Ash
First Bankers Trust Services
Merri is the senior vice president at First Bankers Trust Services, Inc. Merri has more than 40 years' experience in employee benefits services. She is a past chairperson for the administrative advisory committee of the ESOP Association, former board member for the national ESOP Association and current board of trustees member for the Employee Ownership Foundation. Merri has been with First Bankers since 2002.
Jokake Construction Services, Inc.
Diana is the controller at Jokake Construction Services, Inc., a 100% employee-owned ESOP. Diana supervises day-to-day activities of the accounting department, its workflow and processes, produces financial statements, supports the operations team as needed and manages the yearend audit activities. She is the trustee of Jokake's ESOP plan. Diana earned her BS in accounting from the University of Phoenix and has worked in construction industry finance for 11 years. Diana is a Certified Construction Industry Financial Professional (CCIFP) and sits on the board of directors for the Valley of the Sun Construction Financial Management Association.
Empire Valuation Consultants, LLC
Chuck is a managing director of Empire Valuation Consultants. He has over 30 years' professional experience providing financial consulting, business appraisals, ESOP feasibility, and transaction consulting, due diligence, and expert witness testimony on business valuation matters. Chuck has extensive experience with the valuation of business assets and interests for purposes of ESOPs, providing ESOP feasibility studies, plan design, and implementation consulting services. He has assisted over 100 companies in exploring the feasibility of utilizing an ESOP and implementing an ESOP for business succession purposes.
Steven M. Etkind
Sadis & Goldberg LLP
Steven oversees the Sadis & Goldberg LLP's tax, trusts and estates, ERISA, and employee stock ownership (ESOP) groups. He is also a certified public accountant. Steven has created hundreds of estate plans, ranging from a few million dollars in size to those in the hundreds of millions of dollars. He has represented trust companies or business owners in numerous ESOP transactions, and advised many businesses and private investment partnerships on taxation, corporate transactions, business succession issues and employee incentive strategies.
Greg F. Fresh
Greg leads Chartwell's Corporate Finance practice. During the course of his 25+ year career, he has been involved in sell-side, buy-side, and capital markets transactions in a variety of settings, both as an advisor and as a principal investor. Prior to leading Chartwell's corporate finance group, Greg was managing director at Bank of America Merrill Lynch Middle-Market M&A advisory group.
Bryan J. Golden
Private Capital Corporation
Bryan is managing director of Private Capital Corporation, one of the oldest ESOP consulting firms. Bryan specializes in comprehensive perpetuation planning, assisting clients plan for liquidity, broadened ownership, and tax-favored succession plans, using ESOPs and PCC's proprietary Management Stock Ownership Plan, among others. He has extensive corporate management experience and founded his own manufacturing company. He also cofounded an ESOP company with a leveraged $95 million buyout of a division of a multi-billion dollar industrial firm. Bryan is a frequent speaker at ESOP Association and NCEO events.
Jamie Zveitel Kwiatek
Jamie is a shareholder with Polsinelli. Jamie helps employers who maintain ESOPs and other benefit and executive compensation plans navigate the quagmire of laws and regulations governing employee benefits and executive compensation. With more than 30 years of experience, she assists companies in the development and maintenance of creative employee benefit plans and executive compensation arrangements. She is also an advocate for clients when regulatory compliance issues arise. Jamie understands how important a productive workforce is to a client's business.
David, CCIFP, CRIS, CTP, is the CFO, treasurer and board member for Jokake Construction Services, Inc., where he has worked since 2001. Jokake is a 100% employee owned, full service general contractor located in Phoenix, AZ, and licensed to work in Arizona, California, and Nevada. Dave has more than 25 years as a nancial professional in the construction industry previously working for Peter Kiewit Sons, and Computer Guidance Corporation. Dave has been an active member of the Construction Financial Management Association since 2005 and has served as president, vice president, and board member for the Valley of the Sun Chapter. Dave is a member of the CFMA executive committee at the national level. In addition to being a Certi ed Construction Industry Financial Professional, Dave holds credentials as a Certi ed Treasury Professional and Construction Risk Insurance Specialist. Dave is also a member of the Association for Financial Professionals. Dave has served on the Valley of the Sun YMCA board of directors. Dave, his wife Stephanie, and three children, Michael, Santos and Ruby, reside in Chandler, AZ. When not busy with work or CFMA, Dave enjoys spending time with his wife and kids, reading, watching baseball and escaping the Phoenix heat to the mountains in Payson, AZ.
S. Doug Pugliese
Doug heads 1042 QRP Solutions at Alpha Architect, a quantitative finance manager of five publicly traded index funds that provides innovative and affordable passive equity index QRP roll-overs. Previously, Doug was a managing director in the investment banking division at Bear Stearns and also a Navy pilot. Doug received his BA from Penn and his MBA from NYU, where he was a Dean's Scholar and Stern Scholar.
National Center for Employee Ownership
Loren joined the NCEO in 2005 and became its executive director in 2010. He writes extensively on employee ownership and has spoken at events around the world. Since entering the field in 1995 as a consultant, he has worked with hundreds of companies. His expertise includes ESOPs, equity compensation, best practices for employee ownership companies, research, effective communications, employee motivation, corporate governance, ESOP transactions and operations, and business literacy.
Kenneth E. Serwinski
Prairie Capital Advisors, Inc.
Ken cofounded Prairie Capital Advisors with Robert Gross in 1996 after they recognized a universally underserved need for objective financial advisory consultation for closely held businesses. Since then, Ken has dedicated his experience to providing closely held companies with the guidance and expertise needed for some of their most critical business decisions. He continues to grow Prairie's reputation as a widely respected firm of its kind, designing, structuring, and implementing customized ownership transition strategies, including private sales, management buyouts (MBOs), employee stock ownership plans (ESOPs), and more for businesses nationwide.
Husch Blackwell LLP
Mark is considered a national go-to advisor on essential succession, ESOP, and compensation matters. He has 30 years of experience in succession planning, the creation and operation of employee stock ownership plans, and deferred equity, and metric-based incentive compensation. Mark has been recognized in The Best Lawyers in America for his employee benefits expertise since 1997. Mark has worked on hundreds of ESOP transactions totaling several billions of dollars.
The meeting will be held at the Embassy Suites Scottsdale (formerly Chaparral Suites), located at 5001 North Scottsdale Road. Our sleeping room block has sold out, but rooms may still be available at the current market rate. Please call 800-362-2779 for more information or to make a reservation.
Continuing Education Credit
The National Center for Employee Ownership (NCEO) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org
This program is a "group-live" offering and provides 11.00 hours of CPE credit for accountants in the area of "specialized knowledge and applications." The material is basic level. No prerequisites or advanced preparation is needed. For more information regarding administrative policies such as complaint and refund, please contact the NCEO at 510-208-1300.
The National Center for Employee Ownership (NCEO) is registered with the IRS as an approved provider of continuing education credit. This program provides 3.00 hours of IRS credit for Enrolled Retirement Plan Agents. Programs listed in other areas of our Web site are not approved for continuing education credit for Enrolled Retirement Plan Agents. Attendees must provide a PTIN with their registration in order to obtain IRS CE credit. Continuting education credit is not mandatory for tax return preparers.
This program is valid for 8.25 PDCs for the SHRM-CPSM or SHRM-SCPSM.