Can I sell my ESOP stock in a privately held company?
June 4, 2003
Subject: ESOP stocks for cash
Date: Fri, 2 May 2003
I am currently employed by a privately held company. I am 100% vested in my ESOP plan and have about $50,000 in my account. Is there any way I can sell within our outside the company for cash? Thank you.
Date: 30 May 2003
You might be able to. I don’t have enough details to answer your question.
I suggest that you discuss this with the person responsible for administering the plan at your company. ESOPs for privately-held companies usually have a buy-sell agreement attached to them where the company buys the employee’s shares.