ESOP Nuts and Bolts: What You Need to Know About Employee Stock Ownership Plans
August 16, 2018 :: Indianapolis, IN
About This Meeting
This meeting covers the essentials of how an employee stock ownership plan (ESOP) works. Held at a leading ESOP company, it also provides an opportunity to learn about employee ownership from employee ownership companies. The session is aimed at people thinking about an ESOP, but may also be useful as a review for people in ESOP companies who want to know more about how the plans work.
This event has already taken place. Please see our upcoming in-person meetings and Webinars.
Welcome and Introduction
Timothy Garbinsky, National Center for Employee Ownership
An Introduction to the Purdue Initiative for Family Firms (PIFF)
Renee Wiatt, Purdue Initiative for Family Firms
An ESOP Company Perspective
Mary Hedrick & Stephanie Peavler, BSA LifeStructures
What Is An ESOP and What Can You Use It For?
Timothy Jamison, Prairie Capital Advisors, Inc.
What's Your Company Worth? ESOP Valuation
Mark Orndorff, Southard Financial
Alexander L. Mounts Krieg DeVault LLP
ESOP Plan Designs That Work
Carla Klingler, Swerdlin & Company, an Ascensus company
How to Finance an ESOP
Bart McIlonie, Steiker, Greenapple, & Fusco, P.C.
Who Runs This Thing? ESOP Fiduciary Issues
Thomas E. Potts, Jr. Fiduciary Trust Services, Inc.
An Introduction to the Indiana Center for Employee Ownership
Rick Van Doel, Indiana Center for Employee Ownership.
Small Group Discussions
Tim is the outreach coordinator for the NCEO in Oakland, CA. He works with volunteers, allied organizations, and the press to creatively and effectively disseminate information about employee ownership and advance the NCEO's mission. He earned his BA in English from Duke University in 2009 and has since worked as a content creator and an educator around the world.
Prairie Capital Advisors, Inc.
Tim is responsible for business development and growth initiatives focused on new and mature ESOP opportunities. He advises companies and principals on valuation and ownership transition issues, specifically ESOP formation and implementation. Services include adequate consideration analyses, feasibility studies, transaction financing and restructuring, fairness and solvency opinions, post-transaction cash flow analyses, and annual valuations. Tim has performed valuations and mergers and acquisitions on a variety of companies in various industries.
Carla Neal Klingler
Swerdlin & Company, an Ascensus company
Carla, business development and client relations, at Swerdlin & Company, an Ascensus company began her ESOP career in 1980 at a national ESOP firm where she served as VP, administration, first in San Francisco and later in Atlanta. Her pioneer work in the pension industry included interpreting the practical and operational aspects of ERISA and developing administration procedures and mathematical models to address regulatory requirements. Her broad technical expertise effectively aids clients of all sizes and corporate structures in the practical aspects of their plan design, implementation, operations, legal compliance, accounting, and employee communications.
Bart has provided ownership transition, mergers and acquisitions and employee stock ownership plan (ESOP) advisory services for privately held clients for more than 10 years. He has represented ESOP plan sponsors and plan administrators and ESOP trustees in transactions establishing ESOPs, as well as shareholders selling to an ESOP. He advises clients on a wide variety of tax, corporate finance, executive compensation and ESOP operational issues, as well as ESOP sustainability and general corporate compliance-related matters.
Alexander L. Mounts
Krieg DeVault LLP
Alex is chair of Krieg DeVault's employee benefits practice group. His practice is focused on ESOPs, and he spends time working with companies, trustees, lenders, and sellers on issues surrounding ESOPs including design and implementation, sales of ESOP companies, ongoing advice, and fiduciary and governance counseling. His practice is also focused on executive compensation matters, including designing and implementing nonqualified deferred compensation plans and equity and non-equity-based incentive compensation programs.
Mark A. Orndorff
Mark is a principal at Southard Financial and has been providing valuation services to companies in various industries for more than eighteen years. Mark has contributed to hundreds of valuation assignments for companies wholly owned or partially owned by ESOPS. The ESOP practice at Southard Financial includes valuations for initial transactions and fairness opinions as well as annual updates for over 100 companies. Mark is actively involved in the transaction advisory services provided by Southard Financial, which includes the sale of companies to financial and strategic buyers.
Stephanie A. Peavler
Stephanie, CFO of BSA LifeStructures, is a result driven professional with 16 years of experience in finance, accounting, and operations management. The driver of financial and operational efficiency, she has a demonstrated ability to streamline operations while providing business intelligence to management for decision making and improved performance. Stephanie holds a bachelor of accounting degree from the University of Indianapolis and began her career in public accounting prior to joining BSA LifeStructures in 2007.
Thomas E. Potts, Jr.
Fiduciary Trust Services, Inc.
Tom is president and CEO of Fiduciary Trust Services, Inc. in Indianapolis, IN, and has been serving ESOPs as an independent trustee and transaction fiduciary for the past 17 years. FTS provides independent ESOP fiduciary and trustee services to ESOP clients throughout the US and currently provides ESOP trustee services for 36 ESOPs. Tom is a frequent conference presenter on fiduciary issues, corporate governance, and ESOP sustainability. He is a member of the American Institute of Certified Public Accountants, the ESOP Association, the NCEO, and the Ohio Employee Ownership Center.
Purdue Initiative for Family Firms
Renee serves as the family business management specialist for the Department of Agricultural Economics at Purdue University, namely for the Purdue Initiative for Family Firms (PIFF). She works on extension and applied research in family business management and collaborates with partners such as centers focused on agriculture and families, Extension teams focused on agriculture and farm management, and researchers to develop funded programming focused on family business management. She is responsible for coordinating with producer associations to determine family business needs as well as conducting research and fundraising focused on family businesses.
The meeting will be held at BSA LifeStructures, located at 9365 Counselors Row, Suite 300, Indianapolis, IN 46240