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

BVResearch Pro
American Society of Appraisers Business Valuation Review™
Summer 2007 Volume 26, Issue 2 pp. 42-44
Peter J. Butler, CFA, ASA
Keith A. Pinkerton, CFA, ASA, MBA
Dennis R. Reinstein, CPA/ABV, ASA, CVA

Summary

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