Photo of David Whaley

David is a partner in the Employee Benefits & Executive Compensation practice group. He focuses his practice on assisting private and public companies and nonprofit organizations with all areas of employee benefits, including design, implementation and compliance in connection with tax qualified and nonqualified deferred compensation arrangements (e.g., 409A compliance), health and welfare arrangements and employee fringe benefits.

The Department of Labor (DOL) has made it no secret that it actively engages in enforcement activities against employee stock ownership plans (ESOPs) with a particular focus on the valuation of the stock of privately held companies that is held or bought by the ESOP.[1] The valuation of the company stock is important to