2025Forum
We invite you to join us in Philadelphia!
Use code ESOP to save $50 on your Forum registration. Learn more at forum.nceo.org.
We extend our heartfelt gratitude to Khorsand ESOP Advisory for their unwavering support as the continuous coffee sponsor at Is an ESOP Right for You? With Khorsand’s commitment to keeping everyone caffeinated, the energizing aroma of freshly brewed coffee fills the air, creating an atmosphere of productivity and enthusiasm. Thanks to Khorsand, not only are we kept caffeinated, but we are equipped with good moods and positive energy, making our event truly memorable.
SPEAKERS
As a partner of The Capital ESOP Group, Nick Francia focuses on educating business owners on tax-efficient exit strategies. He is committed to helping clients recognize their options, understand the pros and cons of each strategy, and choose the best succession plan for themselves and their families Nick also creates tailored cash flow models comparing the taxable sale of privately held businesses and a tax-deferred sale to an ESOP under §1042 of the Internal Revenue Code. Nick earns his clients’ trust through open, transparent communication and by working with clients’ tax and legal advisors to construct an overarching strategy
Tim Jamison joined Prairie Capital Advisors in 2016 and is a shareholder in the firm He is responsible for business development and growth initiatives and focuses on advising business owners about ownership transition alternatives including employee stock ownership plans (“ESOPs”) and mergers and acquisitions (“M&A”), among others Services include adequate consideration analyses, feasibility studies, transaction financing and restructuring, fairness and solvency opinions, post-transaction cash flow analyses and annual valuations
Alan is a partner in the Employee Benefits & Executive Compensation group in the St. Louis office of Husch Blackwell LLP His practice encompasses the gamut of employee benefits law, with a particular focus on ESOP transactions and compliance Alan devotes his practice to helping clients design, maintain, and defend employee benefit and executive compensation plans that align with business goals. Many lawyers play golf; instead, Alan plays squash, which provides him with a frequent reminder to keep his day job
Matthew Licina is the technical content manager at the NCEO, where he designs impactful educational resources for employee-owners Prior to joining the NCEO, he directed all employee ownership tax credit programs for the state of Colorado and contributed to key EO legislation He brings creative, critical thinking and a passion for employee ownership, honed through work with Evergreen Cooperatives and other community economic development organizations When not at work, he enjoys rock climbing and backcountry skiing in Colorado.
Dan Markowitz is the leader of B financial reporting engagements retail, engineering, professional financial and consulting services quarterbacking of ESOP transact studies, and managing annual ES
EVENT SPONSORS
THANK YOU TO OUR SPONSORS FOR MAKING THIS EVENT POSSIBLE! POSSIBLE!
MEMBER RESOURCES
ESOP TRAINING PROGRAMS
The NCEO offers live remote training programs for boards and fiduciaries. The programs are presented by NCEO Founder Corey Rosen or NCEO Executive Director Loren Rodgers Customizable training is 90 minutes long and costs $500
We also offer an online training program on how ESOPs work. Based on a series of recorded webinars, it uses adult learning model-based quizzes to turn test takers into knowledgeable ESOP committee members and fiduciaries. This training costs $100.
PUBLICATIONS
Beyond Engagement
ESOPs and Corporate Governance
Executive Compensation in ESOP Companies
Selling Your Business to an ESOP
The ESOP Company Board Handbook
Understanding ESOPs
LIVE WEBINARS & REPLAYS
Stay up to date on ESOPs and equity compensation with online presentations on legal, governance, HR, communications, and financial topics from our Compass online learning series Both live and recorded webinars are free for NCEO members
We offer approximately 45 live ESOP webinars every year Each webinar is recorded and then placed into our Replay Library for you to re-watch at your convenience. NCEO live webinars offer continuing education credit for CPE and SHRM. Find out more information about webinars at www.nceo.org/live-webinars.
Additional Resources
1.Understanding ESOPs by Corey Rosen & Scott Rodrick: A general introductory guide to ESOPs for public and private companies.
2.Who Should Own Your Business After You?: This 8-page, full-color booklet answers frequent questions, describes the sale process, and features critical research findings on the impact of employee ownership.
3.Finance Toolkit & Lender Directory: This toolkit helps NCEO member companies secure financing, either for an ESOP transaction or commercial lending, and includes guidelines on best practices when seeking funding and a directory of bank and nonbank lenders with ESOP experience.
AGENDA: JULY 14
TOPIC TIME
Registration & Refreshments
Ballroom Foyer 1:00 PM
Welcome! What is Employee Ownership?
Matt Licina, NCEO 1:40 PM
An ESOP Company Perspective
Jason Switz, Chasse Building Team 3:15 PM
Refreshment Break
Dan Markowitz, Boulay 2:50 PM
Matt Licina, NCEO 12:30 PM 4:10 PM
ESOP Transaction Structures & Assessing Feasibility
Roundtable Discussions | Grand Ballroom
What to Expect in an ESOP Transaction, Dan Markowitz
Alternatives to an ESOP, Matt Licina
How Much Should I Sell?, Matt Middendorp 5:30 PM
Grand Ballroom & Patio 5:05 PM Wrap-Up
Networking Cocktail Reception
Learning Objectives: You will learn how to assess whether an ESOP suits your company and, if so, how to finance it. You will also learn how to make choices concerning allocation, vesting, distribution, voting rights, and what to do with sale proceeds. You will gain the necessary information for setting up a plan, including critical legal, valuation, and administrative issues. You will also learn about creating an influential ownership culture and why that is important.
SPEAKERS
Matt Middendorp, director of ESOP consulting at Vision Point Capital, is a seasoned professional and dedicated ESOP advocate with a rich background in finance and consulting With multiple degrees, he began his career at an ESOP-owned company during college, fostering a passion for the unique ESOP culture Matt, an award-winning banker and entrepreneur, now dedicates his expertise to educating business owners on selecting and managing ESOPs A frequent industry speaker and guest contributor, he brings depth to the conversation Beyond work, Matt enjoys musky fishing, triathlons, and fossil digs
Tim Rettig is a second-generation serial ESOP entrepreneur. Tim started Intrust IT in 1992 while in college at the University of Cincinnati As the company grew, it was ranked on the Inc 500|5000 list six times and has been recognized as a Best Place to Work in Cincinnati twelve times Tim transitioned the company to be employee-owned via an employee stock ownership plan (ESOP) in 2019, just like his father Jay Rettig did with his company Software Solutions in 2004 Tim has a life goal to create over 10,000 employee-owners through his advocacy of employee ownership
Steve Ryan joined GreatBanc as a senior vice president to manage existing and develop new trust relationships He has acted as a trusted advisor to many privately held companies to assist them in growth initiatives, liquidity events, and business transitions He has over 30 years of new business and banking experience with clients throughout the country Steve has led commercial banking teams that interact with business owners and executives of private and public companies In addition to his role at GreatBanc, Steve is on the board of an ESOP company and is the chair of the Private Directors Association National ESOP Committee
Jason Switz is the Chief Financial Officer at Chasse Building Team, where he has served on the executive team for over 12 years. During his tenure, he has played a key role in the company ’ s growth from $75 million to $685 million in annual revenue One of the most challenging and rewarding accomplishments of Jason’s career was leading the implementation of an Employee Stock Ownership Plan (ESOP) in December 2021 He directed the company ’ s due diligence efforts, coordinated all pre-transaction stakeholders, and continues to oversee all aspects of the ESOP posttransaction Jason holds CPA and CCIFP designations and was selected as the Financial Executives International-Chief Financial Officer of the Year for the Arizona chapter.
AGENDA: JULY 15
7:30 AM
8:40 AM
Breakfast Roundtables | Topside: 3 Floor rd
Open Book Management, Tim Rettig
Recent Developments in Fiduciary Issues, Alan Kandel
Why the Value of the Stock is Important and How Do My Employees Benefit From the Determination of Value?, Tim Jamison
Welcome & Recap | Grand Ballroom
Matt Licina, NCEO
9:05 AM Plan Design & Operations
Matt Middendorp, Vision Point Capital
My Multi-Generational ESOP Story: Exiting for Good
9:50 AM
10:30 AM
10:40 AM
Tim Rettig, Intrust IT
Refreshment Break
Determining Stock Value
Tim Jamison, Prairie Capital Advisors
Financing an ESOP
Steve Ryan, GreatBanc Trust Company 11:25 AM
Lunch with ESOP Experts | Topside: 3 Floor rd
12:05 PM
Creative Financing Structures, Steve Ryan
Hiring the Right People for Your New ESOP, Nick Francia
ESOP Communication, Tim Garbinsky
Fiduciary Responsibilities
Alan Kandel, Husch Blackwell 1:10 PM 1:55 PM 2:35 PM 2:45 PM
Investing in the 1042 Rollover
Nick Francia, The Capital ESOP Group at UBS
Refreshment Break
Q&A/Debrief
Matt Licina, NCEO