Steve Flores

Steve regularly advises strategic and private equity buyers and sellers on all aspects of executive compensation and employee benefits in M&A transactions, joint venture, restructuring and financings across diverse industries. His work includes conducting comprehensive diligence of target company benefit plans and compensation arrangements, drafting and negotiating purchase agreement representations, warranties, covenants, and indemnifications, analyzing golden parachute excise tax exposure under Section 280G, structuring the treatment of equity compensation and benefit plans and supporting post-closing integration of benefit plans and compensatory arrangements. 

Steve designs and implements comprehensive equity and synthetic equity incentive programs for corporations, limited liability companies, partnerships, family offices, and corporate venture capital. His work spans stock options and appreciation rights, restricted stock awards, RSUs, phantom equity, profits interests, and carried interest balancing tax, securities, and economic considerations. Steve also structures bespoke compensation arrangements for investment professionals and back-office personnel, and advises on Section 409A compliance, Section 83 implications, and equity award modifications and repricings, including in connection with corporate restructurings. 

Steve serves as a trusted advisor to boards, investment committees, plan sponsors and HR professionals navigating their ERISA fiduciary responsibilities. He assists clients in establishing and administering oversight committees, preparing committee charters, investment policy statements, procedural safeguards, and trainings. He also frequently advises on prohibited transaction rules and claims procedure requirements and helps clients evaluate and negotiate vendor agreements. 

Steve advises employers on the design, implementation, and administration of health and welfare benefit programs, including medical, dental, vision, life insurance, disability, and tax-advantaged plans. He counsels on ACA compliance, and advises on requirements under HIPAA, COBRA, ERISA, and the Internal Revenue Code. Steve also helps employers transition from PEO-sponsored and fully insured health plans to self-insured arrangements, including negotiating vendor agreements and establishing governance frameworks. Steve also advises on MEWA implications, including those arising in the context of M&A transactions. 

Steve guides employers through the full lifecycle of qualified and nonqualified retirement plans — from initial design and implementation through administration and termination. He advises on 401(k) and defined benefit plan design, nondiscrimination testing, plan corrections, and corporate transaction related chages. He also structures deferred compensation arrangements, supplemental executive retirement plans (SERPs), and top-hat plans, and advises on Section 409A compliance and ERISA compliance. Steve also advises on pension de-risking strategies, including plan freezes, lump-sum windows, annuity placements, and terminations, and counsels on multiemployer pension plan obligations. He also represents employers in DOL, IRS, and PBGC audits and investigations.  

Steve counsels management teams, executives, and key employees on compensation and benefits matters arising in connection with private equity and strategic transactions — including negotiating employment agreements, severance arrangements, transaction and retention bonuses, and equity rollover terms in the context of M&A transactions. He also advises on the structuring of management carve-out plans and change-in-control arrangements to satisfy Section 409A requirements.