Valtrend - Butler Business Valuation

ESOP: Lack of Marketability

This is a collection of some of Peter Butler's articles that have been published in various publications. Each is a PDF file that must be downloaded to view. (If you don't have a PDF reader, click here to download Adobe for free)

Title: A Hybrid Restricted Stock/Pre-IPO Data Point: Lack of Marketability Discount for ESOPs

Abstract: When SAIC went public, the company and the process provided empirical support for a discount for lack of marketability to be used as a reference for ESOPs.

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