Latest news with #ESOPs
Business Wire
21 hours ago
- Business
- Business Wire
The ESOP Association CEO James Bonham to Testify at Congressional Hearing on Restoring Trust at the DOL's Employee Benefits Security Administration
WASHINGTON--(BUSINESS WIRE)--James Bonham, President and CEO of The ESOP Association, has been invited by U.S. Rep. Tim Walberg, Chair of the House Education & Workforce Committee, to provide testimony at a subcommittee hearing titled 'Restoring Trust: Enhancing Transparency and Oversight at EBSA.' 'EBSA's anti-ESOP bias is well documented and a serious threat to ESOPs, plan participants, and fiduciaries." Bonham will address the longtime systemic anti-ESOP bias at EBSA, how abusive investigative practices have caused a chilling effect on ESOP formation in contravention of Congress's bipartisan intent, and how Congressional action and oversight can help curb such abuses. Bonham will specifically highlight the practice of secret common interest agreements, where taxpayer resources are used to subsidize private law firms and plaintiffs' attorneys' class action lawsuits against employee benefit plan sponsors and fiduciaries. The ESOP Association has been concerned by these agreements for some time, which were first brought to light in an ESOP case currently under litigation. The DOL Inspector General announced an investigation into the matter last month. Bonham will also share concerns about never-ending investigations, indiscriminate 'dragnet' style investigative tactics, and EBSA's continued practice of regulation by litigation that has led to arbitrary and capricious enforcement of unwritten rules. 'EBSA's anti-ESOP bias is well documented and a serious threat to ESOPs, plan participants, and fiduciaries. Members of Congress want to see employee ownership flourish in the United States, but this is deeply curtailed by EBSA's practices,' said Bonham. 'The ESOP Association thanks Education & Workforce Chair Tim Walberg and Subcommittee Chair Rick Allen (GA) for holding this hearing and allowing these concerns to be raised publicly and on the record, and we urge the Congress to take the necessary action to protect the future of ESOPs and employee ownership.' There are currently two bills pending action in the Education & Workforce Committee that would serve to create greater accountability at EBSA. The EBSA Investigations Transparency Act (HR 2869), introduced by Rep. Lisa McClain (MI), would require EBSA to submit an annual report to Congress on the status of open investigations. The Balance the Scales Act (HR 2958), introduced by Rep. Michael Rulli (OH), would require EBSA to disclose all common interest agreements it has entered into. The ESOP Association strongly supports both bills, and its advocates made these issues a priority during the Association's annual ESOP Advocacy Day on Capitol Hill in May. About The ESOP Association The ESOP Association is the largest organization in the world supporting employee-owned companies, the more than 10 million U.S. employees who participate in an ESOP, and the professionals who provide services to them. Headquartered at the International Employee Ownership Center in Washington, DC and operating as a 501(c)6 organization with the affiliated Employee Ownership Foundation, The ESOP Association conducts and funds academic research, provides more than 160 annual conferences and events attended by nearly 15,000 individuals, and advocates on behalf of employee owners and their businesses to federal and state lawmakers.
Business Journals
a day ago
- Business
- Business Journals
"2025 Top of the List" Strategic Talent Partners: Building Future-Ready Leadership Teams
Strategic Talent Partners (STP) is a retained executive search and leadership solutions firm based in Hopkins, Minnesota, serving clients nationwide. With deep roots in the Twin Cities business community and a client roster that spans ESOPs, EOS®-run companies, and privately held businesses, we are proud to be recognized as a top executive search firm by the Minneapolis/St. Paul Business Journal. Formed through the 2024 merger of two long-standing firms - CorTalent, founded by Mary Nutting, and KeyStone Executive Search, founded by Mike Frommelt - STP brings over 25 years of expertise in executive recruitment and leadership development. Our mission is simple but ambitious: to help companies achieve their growth goals through their people. At the heart of our work is the belief that great companies deserve great leaders. We take a long-term, strategic approach to executive search - partnering exclusively on a retained basis to deeply understand each client's business model, culture, and vision for the future. Whether it's preparing for a CEO transition, scaling leadership capacity, or aligning teams with new growth strategies, we help companies navigate the human side of growth with confidence. The impact of our work – built over the past two decades – includes: • 600+ clients served • 700+ leadership roles filled • 400+ C-suite placements • 800+ leaders developed But what sets us apart isn't just what we do - it's how we do it. Every engagement begins with intentional planning. Through the use of our proprietary tools and frameworks, such as the Strategic Talent Roadmap™ and Growth Leadership Model, we ensure we're not just hiring leaders - we're building leadership teams prepared for what's next. As we look ahead to 2026 and beyond, we remain focused on expanding our reach, deepening client partnerships, and continuing to provide tailored solutions that meet the unique needs of growing organizations. Whether you're currently navigating leadership transitions, preparing to scale, or thinking 3-5 years ahead, Strategic Talent Partners is here to help you achieve your growth goals through your people.
News18
a day ago
- Business
- News18
From Rs 15 Cr Missed ESOPs To 25,000 Shares Target: Advisor Buys 10 HDFC Bank Stocks Monthly
Last Updated: Financial advisor regrets leaving Rs 15 crore gains in HDFC Bank stocks for a 25% salary hike. He now buys 10 HDFC shares monthly, aiming for 25000 shares in 10-20 years. A financial advisor has shared an interesting anecdote on how he left ESOPs worth Rs 15 crore in HDFC Bank stocks by switching job for a 25 per cent salary hike. He regretted his decision to lose compounded gains that could have been made if he had stayed longer, as explained in the X post by Gurmeet Chadha, a Chief Investment Officer of a wealth management company. His post came in the context of the first bonus issue in over 30 years by India's largest private lender. At the time, Chadha chose to exit without vesting his Employee Stock Option Plan (ESOPs), tempted by the immediate increase in salary. However, by 2010, he realised the long-term wealth he had forgone. As a result, he started buying 10 HDFC Bank shares every month—a disciplined investing habit he has continued for nine years. In a striking comparison, he noted that a former colleague who stayed back and allowed the ESOPs to vest is now sitting on a fortune worth Rs 15 crore. 'Lesson learnt—Never interrupt the compounding process," Chadha wrote. Chadha said that he has been compensating his foregone by purchasing 10 HDFC Bank shares every month for the last 15 years, apart from adding lump sum during corrections. He said he has been looking to have over 25000 shares with a time horizon of 10-20 years. 'Yes I have been for more 15 years + & also add lump sum during corrections. My quantity goal is 25000 shares. I think of 10-20 times in 10-20 years & not 10-20%," he added in the X post. In a regulatory filing along with Q1FY26 results, HDFC Bank also announced a bonus issue. It said, 'Issuance of Bonus equity shares in the proportion of 1:1 i.e. 1 (One) equity share of Re. 1/- each for every 1 (One) fully paid-up equity share of Re. 1/- each held by the Members of the Bank as on the Record Date (mentioned below)." The bank also announced a special interim dividend of Rs 5 per equity for the financial year 2025-26. HDFC Bank shares have given a whopping 35,994 per cent since the listing in 1995, as per Google Finance. This also include two times stock splits in 2011 and 2019. HDFC Bank on Saturday reported a 12.24 per cent year-on-year rise in its standalone net profit to Rs 18,155.21 crore for the first quarter ended June 2025. Its net interest income, which is the difference between interest earned and interest expended, rose 5.4% to Rs 31,439 crore in April-June, against Rs 29,839 crore in the year-ago period. Its net profit had stood at Rs 16,174.75 crore in the corresponding period last year. However, on a consolidated basis, its net profit fell by 1.31 per cent to Rs 16,258 crore for the June 2025 quarter. The lender had reported a net profit of Rs 16,475 crore in the year-ago period. view comments Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
India.com
3 days ago
- Business
- India.com
JACKPOT for L&T boss, Subrahmanyan sees remuneration jumps of 50 percent after…, earns Rs 760000000 pay in…, his net worth is…
SN Subrahmanyan (File) New Delhi: S N Subrahmanyan, chairman and Managing Director of Larsen & Toubro (L&T), witnessed a remuneration hike of nearly 50 percent in the financial year 2024–25. According to the company's latest annual report, Subrahmanyan received a total compensation of Rs 76.25 crore in FY25, up from Rs 51.05 crore in FY24. This massive increase was attributed to employee stock options (ESOPs) exercised during the year, valued at Rs 15.88 crore. Notably, no ESOPs were exercised by him in the previous financial year. Whole-time Director and Chief Financial Officer R Shankar Raman earned Rs 37.33 crore in FY25. Deputy Managing Director and President Subramanian Sarma received Rs 44.55 crore for the same period. The annual report highlighted that the remuneration of key managerial personnel reflects the company's strong performance, and the rewards are in line with industry benchmarks. Story in short: S N Subrahmanyan, chairman and Managing Director of Larsen & Toubro (L&T), witnessed a remuneration hike of nearly 50 percent in the financial year 2024–25. Whole-time Director and Chief Financial Officer R Shankar Raman earned Rs 37.33 crore in FY25. Deputy Managing Director and President Subramanian Sarma received Rs 44.55 crore for the same period. Subrahmanyan and his association with Larsen and Toubro Subrahmanyan joined the construction business of L&T in 1984 He joined as a project planning engineer after completing a degree in civil engineering and post-graduation in business management. The L&T construction business has grown multifold under his leadership It ranked among the top 25 global contractors after Subramanyan joined the company In 2011, Subrahmanyan was inducted into the L&T board. Under Naik's leadership, L&T transformed into a USD 17 billion group with presence not only in engineering and construction but also in technology, manufacturing and financial services operating in over 30 countries. About Larsen and Toubro Indian multinational firm Larsen & Toubro operates in over 50 countries across the globe. The company is currently engaged in EPC Projects, Hi-Tech Manufacturing and Services. According to L&T, it was the first company in India in the engineering and construction space to publicly disclose its sustainability performance. Founded in 1946 by two Danish engineers, Henning Holck-Larsen and Soren Kristian Toubro, L&T has been involved in the production of a range of hardware for every project of Indian Space Research Organisation (ISRO), including the Chandrayaan, Gaganyaan, and Mars Orbiter missions. L&T started out as a private company but became a publicly listed firm in 1950, and over the years, leading business tycoons like Anil Ambani and Kumar Mangalam Birla, have tried to acquire it.
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Business Standard
4 days ago
- Business
- Business Standard
Private sector bank chiefs take home hefty compensation cheques in FY25
Public sector banks' chiefs trail far behind, with the chairman of SBI, India's largest lender, earning a fraction of what private sector banks' chief executives make BS Reporter Mumbai Listen to This Article The heads of private sector banks earned hefty compensation in FY25, with HDFC Bank's managing director and chief executive officer (MD and CEO) Sashidhar Jagdishan and Kotak Mahindra Bank's MD and CEO Ashok Vaswani emerging as the top earners. In FY25, Jagdishan of HDFC Bank, India's largest private sector lender, earned ₹12.06 crore, up 12 per cent from last financial year. He has also been allotted 212,052 shares in Employee Stock Options (ESOPs) by the bank in FY25, the bank's annual report for the fiscal year showed. Jagdishan drew a remuneration of ₹10.77 crore in FY24. He was the highest
