Stephen M. Jacobson, P.C.
Overview
Stephen Jacobson is an executive compensation partner in the Houston and New York offices of Kirkland & Ellis LLP. He advises public and private companies, private equity firms and their portfolio companies on a wide range of employment, executive compensation and employee benefit matters, including in connection with mergers, acquisitions, sales, private equity investments, initial public offerings and restructurings.
Stephen regularly advises clients on structuring and implementing equity and cash-based incentive plans as well as the applicable tax, securities law, corporate governance and disclosure implications of those arrangements.
Stephen also represents clients in negotiating employment, separation and incentive agreements.
Clients have described Stephen as an “outstanding lawyer" who is “client-focused,” “very practical and can deal with sticky situations.” In connection with his recognition in various industry publications, including Chambers USA, The Legal 500 U.S. and Lawdragon, he is also lauded by clients for being “extremely knowledgeable in what is a very nuanced and complex area,” possessing “a great business mind,” being “informed on current industry trends,” and being “especially formidable in M&A.”
Experience
Representative Matters
Private Equity Matters
- Executive compensation and management equity aspects of numerous matters, including investments, acquisitions, dispositions and continuation vehicle transactions, for various private equity sponsors and their portfolio companies, including Antin Infrastructure Partners, Apollo, Arctos Partners, Ares, Bernhard Capital Partners, Blackstone, Blue Star Innovation Partners, Braemont Capital, Canada Pension Plan Investment Board, Carnelian Energy Capital, EIV Capital, EnCap Investments, Energy Capital Partners, EQT Holdings, Fengate Capital, Greenbelt Capital Partners, GTCR, I Squared Capital, Kimmeridge Energy, King Street Capital, Kohlberg & Company, Morgan Stanley Capital Partners, Oaktree Capital, ORIX Capital, Palistar Capital, Quantum Energy Partners, Quinbrook Infrastructure, Redbird Capital, Riverstone Holdings, Sandbrook Capital, Snowhawk, Sterling Group, Strategic Value Partners, Tailwater Capital, Thoma Bravo, TPG, Trilantic Capital and Trinity Hunt Partners
Public Company and Strategic Mergers & Acquisitions
- NextEra Energy in its approximately $420 billion definitive agreement to combine with Dominion Energy, Inc. in an all-stock transaction
- Ameresco in its joint venture with HA Sustainable Infrastructure Capital to form Neogenyx Fuels, a provider of biofuels, valued at $1.8 billion
- Hornbeck Offshore Services, Inc. in its definitive agreement to combine with Helix Energy Solutions Group, Inc.
- Stellar Energy Americas, Inc. in the sale of its Stellar Energy Digital business to Trane Technologies plc
- Civitas Resources Inc. in its $12.8 billion all-stock combination with SM Energy Company
- Crescent Energy Company in its $3.1 billion all-stock acquisition of Vital Energy, Inc.
- Ovintiv in the $3 billion sale of its Anadarko assets to an undisclosed buyer
- HG Energy II, LLC in the $2.8 billion sale of its upstream assets to Antero Resources Corporation and the $1.1 billion sale of its midstream assets to Antero Midstream Corporation
- Constellation Energy in its $26.6 billion acquisition of Calpine Corporation
- Berkshire Hathaway Inc. in its $9.7 billion all-cash acquisition of OxyChem from Occidental Petroleum
- EQT Corporation in its $35 billion merger with Equitrans Midstream Corporation
- Daseke, Inc. in its $1.1 billion sale to TFI International
- Six Flags Entertainment Corporation in its $8 billion merger of equals with Cedar Fair
- Energy Capital Partners in its approximately $1 billion combination with Bridgepoint Group plc
- NexTier Oilfield Solutions, Inc. in its $5.4 billion merger of equals with Patterson-UTI Energy, Inc.
- Express in its acquisition of Bonobos from Walmart
- Oak Street Health in its $10.6 billion sale to CVS Health
- Paya Holdings Inc. in its sale to Nuvei Corporation for approximately $1.3 billion
- Atlas Technical Consultants, Inc. in its $1.05 billion sale to GI partners
- Archaea Energy Inc. in its $4.1 billion sale to bp p.l.c.
- EQT Corporation in its $5.2 billion acquisition of Tug Hill’s upstream assets and XcL Midstream’s gathering and processing assets
- Ping Identity in its $2.8 billion sale to Thoma Bravo
- Datto in its $6.2 billion sale to Kaseya
- Special Committee of ProFrac Holding Corp.’s Board of Directors in the all-stock acquisition of U.S. Well Services, Inc.
- Allegion plc in the $900 million acquisition of Stanley Access Technologies, a carveout divestiture from Stanley Black & Decker
- Owens & Minor, Inc. in its $1.6 billion acquisition of Apria, Inc.
- Special Committee of the Board of Directors of State Auto Financial Corporation in the sale of State Auto Financial and State Automobile Mutual Insurance Company to Liberty Mutual, valuing STFC at approximately $2.3 billion
Initial Public Offerings
- Various clients, including Madison Air (NYSE: MAIR), Suja Life (Nasdaq: SUJA), Once Upon a Farm (NYSE: OFRM), Legence Corp (Nasdaq: LGN), Infinity Natural Resources (NYSE: INR), Sailpoint Technologies (Nasdaq: SAIL), Integral Ad Science (Nasdaq: IAS), Agiliti, Inc. (NYSE: AGTI), Pharvaris (Nasdaq: PHVS), Vine Energy Inc. (NYSE: VEI), Shoals Technologies (Nasdaq: SHLS), Maravai Life Sciences (Nasdaq: MRVI), Array Technologies (Nasdaq: ARRY), Oak Street Health (NYSE: OSH), Datto Holding Corp. (NYSE: MSP), JAMF Software (Nasdaq: JAMF), Berry Corporation (Nasdaq: BRY), Mach Natural Resources LP (NYSE: MNR), Nine Energy Service, Inc. (NYSE: NINE), Ramaco Resources Inc. (Nasdaq: METC), Kodiak Gas Services, Inc. (NYSE: KGS) in the executive compensation aspects of their initial public offerings
Restructuring Transactions
- Various clients, including Sonder Holdings Inc., Hoonigan, David's Bridal, LLC, Aearo Technologies LLC, Chesapeake Energy Corporation (NYSE: CHK), Denbury Resources Inc. (NYSE: DEN), Extraction Oil & Gas, Inc. (Nasdaq: XOG) and BJ Services, LLC, in the executive compensation aspects of their Chapter 11 filings
Prior Experience
More
Recognition
The Best Lawyers in America, Employee Benefits (ERISA) Law, 2024–2026; “Lawyer of the Year” (Houston), Employee Benefits (ERISA) Law, 2026
Chambers USA, Employee Benefits & Executive Compensation (Texas: Houston & Surrounds), 2021–2025
The Legal 500 U.S., Employee Benefits, Executive Compensation and Retirement Plans (Transactional), 2016, 2018–2021, 2023–2024
Lawdragon, “500 Leading U.S. Corporate Employment Lawyers,” 2022–2026
Law360, Rising Star, 2019
Certified Public Accountant, State of Texas
Credentials
Admissions & Qualifications
- Texas
- New York
Education
- Tulane University Law SchoolJ.D.cum laude2007
- Tulane University A.B. Freeman School of BusinessB.S., Accountingsumma cum laude2004