Touchstone Talks: Ep. 12 - Demystifying ESOPs: What Business Owners Need to Know Before Selling
Demystifying ESOPs: What Business Owners Need to Know Before Selling
In this episode, Deborah is joined by Rich Glassman of ESOP Plus LLP. Rich shares his extensive knowledge of Employee Stock Ownership Plans (ESOPs), what he considers to be the best-kept secret in the tax code. Learn why ESOPs are a good option to explore when selling your business.
Rich breaks down what an ESOP is, how it works and how it benefits the seller and the company. He addresses some misconceptions including complexity, cost and risk as well as future requirements and costs for the ESOP going forward. Drawing on his background in banking, management, a family-owned business and ESOP law, Rich encourages owners to keep an open mind, seek experienced advisors, and thoughtfully consider whether employee ownership could be the right option for your exit.
Creators and Guests
Host
Deborah Agrafojo
Deborah has influenced and directed strategic and owner-operator mergers and acquisitions in many different fields. She believes strongly that assisting a business to grow and develop strong practices is the best way to create a company that is poised for exit planning or gaining an equity growth partner.
Producer
David Chmielewski
At the end of 2013 David founded DirectLine Media, a video production company that specializes in creating memorable and compelling video content for businesses. Admired for his unique and creative visual story telling, David continues to work with small to large businesses and nonprofit organizations.
Guest
Richard A. Glassman
Mr. Glassman is an attorney with more than 35 years of experience in the law, banking and management. After a 25+ year career in commercial and investment banking and a family-owned business, Mr. Glassman returned to the practice of law focusing on the implementation and management of Employee Stock Ownership Plans (ESOPs). Mr. Glassman is a founding partner of ESOP Plus LLP, and he is also EVP of Grandview Capital Strategies, a company providing fiduciary services to ESOP-owned companies. Mr. Glassman is a member of The ESOP Association and the NCEO. He is a board member or an advisory board member of a number of ESOP-owned companies and he is on the faculty of the International Exit Planning Association teaching the ESOP curriculum. Mr. Glassman works with corporations, directors, management, stockholders and ERISA fiduciaries in connection with the design, creation and management of ESOPs, equity-based compensation plans and matters relating to corporate finance, corporate governance and ERISA.
Editor
Stefania Sassano
Known for being determined and focused, Stefania is often the first to memorize lines and dedicates significant effort to each role. She excels in both comedic and dramatic performances, embracing the motto by Mark Twain, "Find a job you enjoy doing, and you will never have to work a day in your life," making every project both a professional commitment and a joy.