Can I sell my ESOP stock in a privately held company?

June 4, 2003

Subject:   ESOP stocks for cash
Date:   Fri, 2 May 2003
From:   Anonymous

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.

Answer

Date:   30 May 2003

Hello,

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.

Good luck!

Mike Gray

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