ALEXANDER v. ALEXANDER (Appellate Division, First Dep’t)

The trial court’s decision to award the wife 35% of the husband’s corporate stock shares was reaffirmed by the appellate court.  The stock shares were considered active assets due to husband’s daily role in the management of the company.  Furthermore, the length of the marriage, the contributions of the wife in running the home and raising the children and because most of the increase in stock price occurred in the same year as the commencement of the action, the percentage awarded to the wife was proper.

Additionally, the court noted that the neutral appraiser’s valuation was proper in basing the valuation of the stock on the formula in the shareholder agreement whereas the wife’s expert, whose value was significantly higher, failed to properly consider the stock transfer restrictions contained in the shareholder’s agreement.