ESOP Nuts and Bolts: What You Need to Know About Employee Stock Ownership Plans
This meeting is generously hosted by employee owned Wright Service Corp.
August 7, 2019 :: West Des Moines, IA
From Our Meeting Series ESOP Nuts and Bolts
To maintain the integrity of this meeting, registration is restricted to companies that either have an ESOP or are considering one (see below under "Registration").
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-owned 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.
Check-in and Refreshments
Welcome and Introduction
Loren Rodgers, NCEO
An ESOP Company Perspective
Terry McGonegle, Wright Service Corp.
What Is An ESOP and What Can You Use It For?
Hillary Hughes, Prairie Capital Advisors, Inc.
What's Your Company Worth? ESOP Valuation
Lindy D. Ireland, BCC Advisers
Joel Davis, Principal Financial Group
Lunch Provided by Wright Service Corp.
ESOP Plan Designs That Work
Debra Williams, GreatBanc Trust Company
How to Finance an ESOP
Brian Crotty, HDH Advisors LLC and Joe DeJong, Bankers Trust
Who Runs This Thing? ESOP Fiduciary Issues
Victor Aspengren, Prairie Capital Advisors, Inc.
Small Group Discussions
Victor N. Aspengren
Prairie Capital Advisors, Inc.
Victor is a director at Prairie Capital Advisors, Inc. He has been heavily involved in ownership transition work for over 15 years. As part of Prairie Capital Advisors' Cedar Rapids office, he provides Midwest and national business owner clients the expertise needed for their ownership transition planning and implementation needs. As former CEO and HR manager at ESOP-owned companies, he has lived the ownership transition experience. Victor is a past chair of the board of directors of the National Center for Employee Ownership (NCEO).
HDH Advisors, LLC
Brian is a Managing Director with HDH Advisors, LLC with over fifteen years of experience in business appraisals, litigation support, corporate finance and an additional two years of experience in the legal research and support field. Brian has testified as an expert witness in various court proceedings throughout the state of Iowa. Brian is trained in Mediation, Collaborative Law and has been court appointed aa a Forensic Accountant and also appointed as Special Master on Valuation in the Iowa Business Specialty Court Pilot Project. As a Managing Director with HDH Advisors, Brian specializes in providing Business Appraisals and Litigation Support for complex business litigation and marital dissolutions. Brian has performed numerous valuations for companies in various industries and sizes, including companies with revenue exceeding billions of dollars per year.
Joel H. Davis
Principal Financial Group
Joel is vice president-ESOP consulting at Principal and has more than 21 years of experience working with ESOPs and the companies that sponsor them. His technical areas of expertise involve ESOP feasibility consulting, repurchase liability and sustainability analysis, plan design, and administration. He is a member of the National Center for Employee Ownership, the ESOP Association (TEA), the Ohio Employee Ownership Center, and the Minnesota Chapter of TEA.
Joe DeJong joined Bankers Trust as vice president and commercial lending officer in December 2008. Beginning in 2011, began serving as the managing director of ESOP Finance, working with middle market companies in the structuring and financing of ESOP plans throughout the Midwest. Joe holds a bachelor's degree in accounting from the University of Northern Iowa with a minor in real estate finance and an Executive Leadership Certificate from the Graduate School of Banking at the University of Wisconsin-Madison.
Prairie Capital Advisors, Inc.
Hillary is a director at Prairie Capital Advisors. Hillary is a trusted advisor on ownership transition and provides strategic insights to assist business owners and board of directors to address long term ownership transaction goals. Hilary has been highly involved in the structuring and valuation related to ESOP's on behalf of ESOP Trustees as well as business owners. She specializes in the valuation of businesses and business interests for purposes of mergers and acquisitions, ESOPs, gift and estate planning, and strategic planning.
Lindy D. Ireland
Lindy Ireland is vice president and shareholder at BCC Advisers, providing valuation services and consulting to ESOPs and those exploring employee ownership. With over 25 years of experience in financial compliance, planning and analytical roles, her practice includes annual valuations, ESOP transactions, fairness opinions and consulting.
Wright Service Corp.
Terry has served as CFO for Wright Service Corp. since 2002 after serving as controller since 1994. He was instrumental in the initial ESOP transaction in 2002 as well as the second transaction in 2006 in which Wright became a 100% S corp ESOP. The Wright ESOP currently has about 1,800 participants.
National Center for Employee Ownership
Loren joined the NCEO in 2005 and became its executive director in 2010. He writes extensively on employee ownership in professional and academic publications and has spoken at events around the world. Since he entered 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.
Debra L. Williams
GreatBanc Trust Company
Debra currently serves as Senior Vice President in the Employee Stock Ownership Plans (ESOP) Client Services group, focusing on managing client relationships and ESOP transactions. Debra joined GreatBanc Trust Company in 2016 and has more than 25 years of experience with ESOPs and retirement plan services. Debra's experience includes serving as relationship manager for ESOP clients nationwide. She has participated in numerous ESOP transactions, as well as having experience in directed and non-qualified retirement plan services. Debra is a member of the ESOP Association and the National Center for Employee Ownership.
The meeting will be held at Wright Service Corp., located at 5930 Grand Avenue, West Des Moines, IA 50266. Wright Service Corp has generously provided the facilities, the food and beverage for this meeting, as well their experience as an employee owned company. Our host company recommends the Holiday Inn Jordan Creek, located at 6075 Mills Civic Parkway, West Des Moines, IA 50266. Rooms are available at a special corporate rate for this meeting. You can reserve a room one of two ways:Online by using this link.
1. When you click the link, it'll take you to the date request page. Choose the dates you are staying and click the button "Check Availability."
If the corporate rate of $109/night does not appear in your search, please refresh the page and try the search again.
2. Select your room (one bed, two beds, suite [$119/night] or standard)
3. Select WRIGHT SERVICE CORPORATION under the "Your Preferred Rate" section
4. Continue with the booking process.
Calling the hotel directly at 877.666.3243 saying you have a preferred corporate rate under Wright Service Corp.
All meeting registrations must be prepaid.
NCEO members: $75.00 per person. (Not a member yet? Join during checkout for only $90. Membership is a great way to learn more about employee ownership.)
Nonmembers: $75.00 per person.
General Registration Information
To maintain the integrity of this meeting, registration is restricted to companies that either have an ESOP or are considering one.
A full refund will be issued, less a $20.00 administrative fee, if the request is received by the close of business on July 8, 2019. Cancellations made after that date and before our guarantee date of July 24, 2019, will be eligible for credit toward another program, minus a $20.00 administrative fee. Those cancelling on or after the guarantee date will not receive a paper credit or a refund.