401(k) plan sponsored by a business 100% owned by an ESOP - RMD question

A business is 100% owned by an ESOP. 

The question came up about RMD.  The employee involved was a >5% owner 10 years before the business sold to an ESOP and he was well below the RBD age.

I think we are ok with no RMD to this person.

Thanks in advance for comments.

Tom