An extraordinary benefit of being an employee of Skyline is participation in the firm’s employee stock ownership plan, or ESOP. While there are more than 6,000 ESOPs in the US alone (more than the number of public companies), it’s not necessarily something many people are familiar with. Earlier this month, Skyline CEO Jessica Carps joined a panel alongside Coco Brown from Athena Alliance and Randi Feigin from Amazon Web Services on Diligent’s The Corporate Director Podcast to delve into how ESOPs can benefit employees and directors looking to join an ESOP board.
In this podcast, these three business leaders discuss the following topics in depth:
- Nuances of an ESOP board compared to the boards of non-profits, private entities and public entities in terms of compensation, skillset, taxes and reporting
- Unique ESOP board functions
- Important factors to consider when searching for an ESOP board to join
- Differences between joining the board of a new ESOP organization vs. a mature ESOP organization and advice for corporate leaders at various stages of the ESOP's longevity.
- The professional and intrinsic benefits of being a director on the board of an entity with an ESOP.
Listen to this episode of the Diligent’s The Corporate Director Podcast to take you inside the world of ESOPs and discuss why the board of an ESOP can be a great fit for a new director.