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Hi All,

Our company is currently a 30% ESOP. It will eventually transition to 100% ESOP at some point in the future. I know that we are required to notify the USG if we are the prime of a change of control, but what about at the subcontract to prime level? Is there a requirement to notify the prime if we are a subcontractor and if so, what is the timeline for that?

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employee stock ownership plan (ESOP)

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43 minutes ago, BMac29 said:

Hi All,

Our company is currently a 30% ESOP. It will eventually transition to 100% ESOP at some point in the future. I know that we are required to notify the USG if we are the prime of a change of control, but what about at the subcontract to prime level? Is there a requirement to notify the prime if we are a subcontractor and if so, what is the timeline for that?

Wouldn't that be governed by the terms of your contract with the prime? 

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On 7/16/2021 at 9:31 AM, BMac29 said:

but what about at the subcontract to prime level?

I am not asking for additional detail which in truth would help refine further response but rather offering strong advice.    Contact a legal counsel that is both familiar with ESOP's and Federal government contracting as both business structure and how it affects Federal government contracting  in the scheme of things can be very complicated, especially as it relates to existing contracts that a business holds. 

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