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View More Hunton Andrews Kurth Webcasts and Conferences

Public Companies and ESOPs: Check Yes or No

Hunton Andrews Kurth

July 9, 2020
Recorded Online
Webcast

The purpose of this presentation is to discuss some of the pros and cons associated with a publicly traded company (“PubCo”) sponsoring an employee stock ownership plan (an “ESOP”).

To that end, our discussion will focus on the administrative and transactional design issues of PubCo sponsoring an ESOP, including:

  • Why PubCo would consider sponsoring an ESOP (i.e., the pro v. con analysis),
  • Typical fiduciary structures that can help to limit or contain fiduciary liability,
  • How to structure contributions of newly issued stock by PubCo to the ESOP trust,
  • Structuring contributions of cash by PubCo to the ESOP trust for purposes of the latter to purchase shares in the open market,
  • Incorporating ESOPs into PubCo’s “poison pill” analysis,
  • Diversification requirements,
  • Whether a Form S-8 (and related Form 11-K) is required or advisable, and related Rule 144 restrictions, and
  • Pass-through voting issues.

Speaker: Anthony J. Eppert, Partner, Hunton Andrews Kurth LLP

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