Employee Stock Ownership Plans (ESOP): What You Should Know

Includes a Live Web Event on 09/25/2024 at 2:00 PM (EDT)

Are ESOP’s a suitable form of ownership in construction? Understand the risks.

On this NASBP Virtual Seminar, surety experts explore all components of employee stock ownership plans, including the advantages and disadvantages, legal best practices, claims examples, and more.

Proper succession planning has long been of paramount importance to both construction company owners and their sureties. With the aging ownership population in this industry, solving for this risk while keeping in mind the best interests of all parties is an ever-increasing challenge. The lack of proper succession planning and the improper execution of succession plans have historically proven to be risk factors that can lead to contractor difficulties and, often, to failure. If executed correctly, however, ESOPs can be a viable vehicle to facilitate ownership transfer and perpetuate a company. 

Frank Brulenski

Manager, Construction Consulting Services

Liberty Mutual Surety

Frank came to Liberty Mutual Surety with more than 35 years of diversified experience in the accounting field. This included working concurrently in two areas of specialized expertise: (1) traditional financial statement audit and accounting engagements and (2) litigation support and forensic accounting matters. With his experience including construction clients in commercial and residential real estate, Frank brings a well- rounded approach to a broad scope of issues that contractors face. The financial statement engagement-based experience serves Frank well in his ability to assess business operations, internal control environments, financial position, and operating results quickly and acutely. His litigation support and forensic accounting experience includes a broad range of frauds, investigation settings, industries, business types, and clients. Frank is a Certified Public Accountant with PA and NJ licenses and he holds a BS in Accounting.

Chris Garcia

Contract Underwriting Officer

Liberty Mutual Surety

Chris Garcia joined LM Surety (Safeco) in September 2001 as a field underwriter for Core Contract in the Pleasant Hill, CA office. He has held many positions throughout his tenure at LMS, including Contract Bond manager of the Denver, Colorado office and is currently an Underwriting Officer for Core Contract in the Western Region. Chris has been in his current role for the past 8 years and has worked at Liberty Mutual for 25 years.

Travis Remick

Chief Underwriting Officer, Contract Surety’

Liberty Mutual Surety

Travis Remick is Chief Underwriting Officer, Contract Surety at Liberty Mutual Surety. Travis started his surety career at Insurance Company of the West in 1994. In 1995, Travis joined Liberty Mutual Surety, and from 1999-2016 served in a territory management capacity in the Portland, San Francisco, and Seattle markets. In 2016, Travis transitioned to the Home Office and now oversees Contract Surety underwriting for Liberty’s Western region. Travis graduated from Western Washington University with a Bachelor of Arts degree in Business Administration/Finance.

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Employee Stock Ownership Plans (ESOP): What You Should Know
09/25/2024 at 2:00 PM (EDT)  |  60 minutes
09/25/2024 at 2:00 PM (EDT)  |  60 minutes
Evaluation
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Certificate of Attendance
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No credits available  |  Certificate available