ACCT Holdings ESOP Settlement: Who Gets Paid and How

The settlement is for a defined group of Plan participants and beneficiaries. The Plan’s records were used to identify people receiving the notice, but the stated class definition and exclusions control.

• You must have been a vested participant in the ACCT Holdings, Inc. Employee Stock Ownership Plan, or the beneficiary of one, during the period from December 22, 2021 through December 31, 2025.
• The notice excludes people who sold ACCT stock to the Plan in the December 2021 transaction, whether directly or indirectly, and their immediate families. It also excludes ACCT directors and officers at that time, their immediate families, and the legal representatives, successors, and assigns of excluded people.

The notice describes $8.75 million in total relief, but not all of it is cash paid directly to class members. The cash fund and the debt reduction work differently.

• Cash relief: Defendants would pay $3 million in cash, in installments. After deductions, the remaining cash is called the Net Proceeds and is allocated among Class Members under a court-approved plan.
• Seller Note Reduction: Certain Defendants would reduce ACCT loan notes by $5.75 million. Reducing the company’s debt is intended to increase the value of ACCT stock held in Plan accounts.
• Former Participants who already cashed out vested ACCT shares are to receive an additional payment for the estimated stock-price increase tied to the note reduction, because they would not receive that increase through currently held stock.

The notice does not state a fixed payment amount for any individual. Your cash allocation depends on your share percentage and on the amount remaining in the cash fund after the listed deductions.

• Your share starts with your vested ACCT shares in your ESOP account as of December 31, 2025, plus vested shares for which you previously received a distribution.
• That number is divided by the comparable total for all Class Members. The resulting percentage is used to calculate your allocation from the Net Proceeds.
• The Net Proceeds are not the full $3 million cash amount. They are reduced by taxes, administrative expenses, the Independent Fiduciary’s fee, court-approved attorneys’ fees, and any approved service awards.

The notice says distributions are automatic based on Plan records. The rollover option is the stated exception that requires you to submit a form.

The official rollover form, checked September 9, 2026, requests contact information, the receiving retirement account and bank details, and a signed certification. Return it by June 1, 2027 to Prudent Fiduciary Services, LLC Settlement, c/o RG/2 Claims Administration, P.O. Box 59479, Philadelphia, PA 19102-9479, or [email protected]. This optional election is not a claim requirement. Form: https://acctesopsettlement.com/pdf/Rollover_Election_Form.pdf.

• No claim form is required for the settlement distribution.
• If your Plan account has money in it, the distribution is to be deposited directly into that account.
• If your Plan account is terminated or has no money in it, the notice calls you a Former Participant and says the distribution will be sent by check.
• A Former Participant may instead request a rollover to a qualified retirement account, such as an IRA, by submitting the Rollover Election Form by June 1, 2027.

This $10 rule applies to people who have already left the Plan. The notice does not state an equivalent minimum-payment rule for current participants.

• A Former Participant whose calculated settlement payment is less than $10 will not receive a distribution.
• The amount that would have gone to that person is reallocated among other Class Members.

The notice does not give a specific date when class members will be paid. A scheduled hearing or the passage of a deadline does not itself mean the settlement has been approved or that payments are due.

• The Court must finally approve the settlement, and that approval must stand if there is an appeal.
• The final cash installment is due no later than 270 days after the District Court enters an order granting final approval.
• Other than specified administrative expenses, the Independent Fiduciary’s fee, and service awards, the cash fund will not be distributed until all agreed cash payments have been made.

This is a mandatory class settlement. Unlike some settlements, the notice does not offer an opt-out choice.

• You cannot exclude yourself, meaning leave the settlement, if the Court approves it.
• If approved, the settlement resolves the claims in this lawsuit for all Class Members against the Defendants.
• The notice says Class Members will release the Defendants and related entities from the Released Claims, as defined in the Settlement Agreement.

The hearing is where the Court will decide whether to approve the proposed settlement. It is not a payment date.

• The hearing is scheduled for November 19, 2026, at 10:00 a.m., in Courtroom 10A of the U.S. District Court for the Eastern District of Pennsylvania in Philadelphia.
• The Court will consider final approval of the settlement as well as requested attorneys’ fees and expenses, administrative costs and expenses, and service awards.
• You do not have to attend. You may attend at your own expense, and a timely written objection will be considered even if you do not come to court.
• To speak at the hearing, you must meet the notice’s objection requirements and say in your objection that you intend to appear and speak.

The notice describes what an objection must contain. Its instructions about the recipients and contact method are inconsistent, so the notice does not provide one clear, complete delivery procedure.

The notice introduction calls for filing with the Court and sending the objection to the administrator, while section 9 gives the Court and both sides’ lawyers as recipients. Follow the complete section 9 requirements and confirm the administrator delivery requirement rather than assuming one mailing covers every recipient. The official rollover form identifies RG/2 Claims Administration at [email protected] and supplies its mailing address. Sources checked September 9, 2026: https://acctesopsettlement.com/ and https://acctesopsettlement.com/pdf/Rollover_Election_Form.pdf.

• An objection must identify the case, give the objector’s contact information, and explain the complete basis for the objection.
• It must state whether the objector plans to appear at the Fairness Hearing and whether the objection is personal, applies to a particular part of the class, or applies to the entire class.
• Supporting documents must be included.
• The deadline stated in the notice is October 29, 2026.