Stephen D. Smith

From 1983 to 2017, Steve dedicated his private law practice primarily to employee stock
ownership plans (“ESOP’s”); he structured over 350 ESOP transactions for public and private
companies throughout the U.S. He also designed and implemented equity and non-equity-based
incentive compensation plans for public and private companies. He was directly involved in
drafting the S corporation ESOP enabling legislation in the Taxpayer Relief Act of 1997. Steve
was a co-author of the S corporation ESOP “anti-abuse” statutes known as the “Breaux
Ramstad” legislation.

Steve currently sits on the boards of directors of three 100 percent ESOP-owned corporations,
Concrete Supply Co. Inc. (Georgia), Rochester Metal Products Corp. (Indiana) and Dividend
Assets Capital Holdings, Inc. (South Carolina). For several years, he was a director of Brent
Scarbrough & Company, Cathedral Holdings, Inc., and Tech Systems, Inc. (all Georgia-based
100 percent ESOP-owned corporations). He currently serves as a lead director, chair of the
nominating and governance committees, and a member of the audit and finance and
compensation committees.

Steve served on active and reserve duty for 26 years in the Air Force Judge Advocate Generals
Corps. and retired as a Colonel. During his reserve duty at the Pentagon, he conceived of and
drafted the “401(k)” plan for members of the armed services, which is now part of the Federal
Thrift Savings Plan.

In 2004, Steve founded and served as the President of Sheldrick Wildlife Trust USA, a charitable
organization which has provided over $60 Million in grants to the wildlife conservation
programs of the Sheldrick Wildlife Trust in Kenya. He currently serves as a Trustee of Sheldrick
Wildlife Trust UK.