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ESOP Implementation and Representation in Company Sale

We represented the client company with regards to implementing an employee stock ownership plan (ESOP) to provide a liquidity opportunity to a disparate group of shareholders. The ESOP acquired a minority interest in the company, and the intent was to continue periodic sales to the ESOP. However, due to consolidation in the industry, the company was sold to a third party strategic buyer in 2021. We represented the company in the sale, including negotiating the termination and buyout of the ESOP shares with the ESOP’s independent trustee.