C. Ryan Stewart

Biography

Ryan has performed the following types of valuation and economic analysis assignments: merger and acquisition valuations, business and stock valuations, stock option valuations, solvency and insolvency analyses, fairness opinions, employee stock ownership plan (“ESOP”) formation and adequate consideration analyses, recapitalization analyses, intellectual property valuations, and lost profits/economic damages analyses.

He has prepared these valuation and economic analyses for the following purposes: transaction pricing and structuring; taxation planning and compliance (federal income, gift, and estate tax); ESOP transaction and financing; reorganization; and corporate planning.

Ryan has valued the following types of business entities and securities: privately held business enterprises, fractional ownership interests in privately held corporations, various classes of common/preferred stock, stock options and rights, general and limited partnership interests, professional service corporations, and franchises.

Previous Experience

Prior to joining Willamette Management Associates, Ryan was a senior analyst in the valuation group with SunTrust Robinson Humphrey Capital Markets, a division of SunTrust Capital Markets Inc., an investment banking firm in Atlanta.

Education

• Master of Business Administration, Florida A&M University, School of Business and Industry
• Bachelor of Business Administration, Florida A&M University

Professional Affiliations

Ryan is a member of the National Association of Certified Valuators and Analysts (“NACVA”) and currently holds the Certified Valuation Analyst (“CVA”) and the Certified Business Appraiser (“CBA”) designations. Ryan is also a member of the National Center for Employee Ownership (“NCEO”) and the ESOP Association.