[Withdrawn by EBSA Jan. 21, 2025; link is to archived copy.] 70 pages. "This proposed exemption would provide relief ... to the following parties involved in an ESOP's initial acquisition of non-publicly traded employer common stock from a Selling Shareholder: selling shareholders, any trustee that is independent of the Employer and represents the interests of the ESOP in the transaction, any appraiser that is independent of the Employer and represents the interests of the ESOP in the transaction, and any fiduciary of the ESOP with authority to hire, monitor, or fire the Independent Trustee. The proposed exemptive relief ... is subject to protective conditions that are designed to ensure that any transaction relying on the exemption is prudent and based on a reliable appraisal of the stock's fair market value."  MORE >>