Nancy Wiefek
The 2025 ESOP Corporate Governance Survey report is available. This survey report includes comprehensive data on board policies and practices, trustee types, and other governance topics along with demographic questions. The NCEO has conducted surveys on ESOP companies' corporate governance since 2005. Our 2025 survey received responses from 556 ESOP companies in May–June 2025.
Corey Rosen
After an Oxfam report revealed that global billionaire wealth has surged by $33 trillion since 2015, Shark Tank star Mark Cuban told Fortune that it is time for companies to share ownership with employees.
Corey Rosen
Members of Congress may not agree on a lot these days, but as they have for 51 years, they do unanimously agree on employee ownership. On October 10, the Senate unanimously passed two bills to promote ESOPs. The first, the Retire through Ownership Act (S. 2403), could make it easier for companies to avoid legal challenges to the valuation of shares the ESOP acquires. A parallel bill (H.R. 5169) has been introduced in the House but has not yet been acted on. The second, the Employee Ownership Representation Act of 2025 (S. 1728), would add ESOP representatives to the ERISA Advisory Council. A parallel bill has not yet been introduced in the House. Both bills will now move to the House.
Corey Rosen
Employee stock ownership plans (ESOPs) have widespread support from politicians and academics and can offer significant benefits for employees, business owners, and society. But there are those who argue that there are too many risks associated with these plans. Do they put too much of employee retirement assets at risk? Does the debt that an ESOP typically takes on to finance ownership transition put employee jobs and companies at risk? Do business owners and board members face a high risk of litigation? The new NCEO paper Assessing the Risks of ESOPs for Employees, Managers, and Business Owners (PDF; also see the embedded version below) by NCEO founder Corey Rosen summarizes in detail the extensive research on each aspect of ESOP risk.
Loren Rodgers
Two new organizations have entered the field of employee ownership: Ownership Works and Expanding ESOPs. Both have connections to private equity, and since not many topics generate stronger feelings or more controversy than private equity, I’m writing this article to answer common questions about these two organizations.
Corey Rosen
The Small Business Administration (SBA) formally updated its rules for valuation in ESOP transactions, incorporating prior guidance that it no longer requires a separate SBA valuation.
Kimberly McCourtney
The NCEO Forum is known for its interactive workshops, but this year's peer networking sessions revealed something even bigger: when employee-owners and their supporters connect, ideas flow fast and lessons stick. Here are 10 takeaways from these sessions.
Timothy Garbinsky
The International Comparative Labor Studies (ICLS) program at Morehouse College announced the Vision and Victory conference, taking place November 12–14 at the Hyatt Regency Atlanta. The national event, subtitled "Expanding Black Employee Ownership," aims to do just that—explore the ways Black businesses and communities stand to benefit from employee ownership, how to encourage the growth and expansion of employee ownership in these communities, and how to deal with and overcome hurdles and barriers to doing so.
Matthew Licina
The second annual employee ownership trust (EOT) and perpetual purpose trust (PPT) workshop at the 2025 NCEO Forum in Philadelphia was an incredible gathering of the growing EOT and PPT community. I had the honor of moderating the workshop and would like to thank everyone who joined us for a day full of deep learning, connection, and passion. With about 50 people in attendance, the room was packed and highly engaged from start to finish.
