Employer Securities
	For an ESOP, common stock issued by the employer that is readily tradable in an established securities market. If the employer has no readily tradable common stock, employer securities include employer-issued common stock that has a combination of voting power and dividend rights at least the equal of the class of common stock with the greatest dividend rights. Noncallable preferred stock that is convertible into common stock that meets the requirements of employer securities also qualifies if the conversion price is reasonable.
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