National Conference 2026 Program

CONFERENCE 2024 CONFERENCE 2026

Conference Program

May 5-8, 2026

Washington, DC

Program Sponsor

THANK YOU TO OUR SPONSORS

STRATEGIC PARTNER

PLATINUM SPONSORS

GOLD SPONSOR

Faegre Drinker

McDermott, Will & Schulte LLP

SUPPORTER SPONSORS SCJ Fiduciary Services

A LETTER FROM THE BOARD CHAIR

Welcome to TEA National Conference & ESOP Advocacy Day!

Welcome to Washington, DC for The ESOP Association’s 2026 National Conference — the nation’s premier advocacy-focused gathering for employee ownership, bringing together employee owners, leaders, and experts from across the country.

Over the years, I’ve had the privilege to serve the ESOP community in many roles: as President of the Carolinas Chapter, a longstanding member of the Board of Directors, and now as your Chair. These experiences reaffirm what I believe deeply—employee ownership works when we invest in our people, culture, and shared future.

This year’s National Conference brings together education, advocacy, and community—the pillars of our movement. Our 2026 program features world class content and the opportunity to meet directly with policymakers during ESOP Advocacy Day. Whether you’re here to deepen technical knowledge, strengthen leadership, or expand your network, our goal is to equip you with tools that drive results back home.

The ESOP Association continues advancing our community’s interests—from federal and state advocacy to high-quality chapter programming, leadership development, and new strategic initiatives. I’m honored to help guide TEA through growth, education, and a resilient future for employee owned companies nationwide.

On behalf of the Association’s Board of Directors, welcome to Washington, DC. Thank you for being part of a movement that proves when ownership is shared, we all reap the benefits. I hope you have a productive, energizing, and inspiring 2026 National Conference.

Sincerely,

Derrick Vick Chair, Board of Directors

The ESOP Association

Welcome to our nation’s capital!

The ESOP Association is proud to welcome you to Washington, DC for the 2026 National Conference. This gathering brings together employee owners, executives, advisors, and advocates for four days of education, connection, and engagement.

Earlier this week, hundreds of employee owners from across the country came to Washington to engage directly with their elected representatives on issues vital to the future of our ESOPs. I’m deeply grateful to those who volunteered their time for this important effort.

We also gather to honor excellence in employee ownership. Our Excellence in Employee Ownership Awards Lunch celebrates the innovators, culture builders, and leaders who strengthen the ESOP model, recognizing outstanding employee owners, ESOPs, and Chapters from across the nation.

Our educational programming spans the full spectrum of ESOP leadership and practice. Five learning tracks—Administration, Board & Trustee, C-Suite, Culture & Communication, and ESOP Fundamentals—offer targeted education for every role. Roundtables, Chapter Showcases, and dozens of sessions address leadership development, valuation, repurchase obligations, communication, culture, and more. The conference also explores the human side of business. In our opening keynote, Kathy Varol, former head of Global Purpose Strategy at Adidas, will share how purpose-centered leadership drives engagement, loyalty, innovation, and performance.

And of course, there’s time to connect and recharge. From receptions to the popular Monument Bus Tour, you’ll experience the camaraderie of our community and the beauty of Washington, DC.

Thank you for joining us and for your continued commitment to employee ownership. Your participation strengthens our companies, our community, and the national voice of employee owners. Enjoy the 2026 National Conference!

Sincerely,

James J. Bonham President and CEO The ESOP Association

E SOP Meetings

Download the mobile app to get the most out of National Conference 2026!

Username: Your email used to register for the conference.

Password: nc26

We’ve Made Upgrades! Delete any previous versions of the ESOP Meetings app from your device. Visit the App Store or Google Play to download the latest version.

Live Polling

During educational sessions, attendees seeking credit are required to answer polls on the ESOP Meetings app. Follow these steps to participate:

1. Find your session under Schedule and tap Details.

2. Tap Poll to see the list of polls available for that session.

3. When prompted by the speaker, tap the poll question to submit your response.

Mobile App Sponsor

Daily Session Evaluations

Thursday and Friday session evaluations are available within each ‘session room’ of the mobile app. If you wish to receive continuing education credits, you must complete evaluations for each session you attend.

Post-Conference Evaluation

A post-conference evaluation will be sent out to all attendees. We will enter everyone who completes the evaluation into a prize drawing.

Your TEA Membership is Valuable

The ESOP Association (TEA) is the only comprehensive membership organization that delivers unique value to all ESOP companies, employee owners, and the professionals who design and administer ESOPs. TEA provides unmatched education, essential advocacy, and high-value networking that benefits every level of an organization—from employee owners to executive leadership. TEA’s advocacy stands among the Association’s most important services to members.

BENEFITS FOR ESOP COMPANIES

Education,

Resources and Training

• Discounted registration for world-class content at our in-person chapter, regional, and national conferences

• Exclusive content for your Executive Suite - helping your ESOP leadership stay at the forefront of your industry

• White papers, publications, research and more to bolster your expertise and keep up with ESOP trends and developments

• Celebrate employee ownership with scholarships, awards, and other culture and communications programs for your company

Networking & Local/Regional Chapters

• Grow your network in-person and on The Hub, our popular online platform

• Automatic inclusion in your local chapter network Advocacy

• Stay informed on changing laws and regulations to keep your business current and compliant

• Actively work with The ESOP Association on federal and state policy priorities affecting ESOPs

Money Saving and Risk Reducing Solutions

• Access to industry-leading group captive health insurance, workers’ comp insurance, a pharmacy benefit management plan, and various corporate and executive liability insurance programs

The Hub Access

• Network and discuss ESOP matters directly with your peers and professional members

BENEFITS FOR ESOP PROFESSIONALS

Events

• Speaking and sponsorship opportunities at over 100 events year round — bolster and share your ESOP support

• The Professionals’ Forum - the only event of its kind, held annually, available only to TEA professional members

The Hub Access

• Professionals-Only Network. Learn and meet with your peers in an exclusive network Advisory Committee Membership

• Join one of six Advisory Committees to produce content for TEA publications, webinars and events

• Develop professionally, work on new ideas, network with peers, and improve your brand

Schedule a Review of Your Benefits Today!

Make sure you are using your membership to the fullest. Email: Membership@esopassociation.org to schedule your membership review.

BOARD OF DIRECTORS

YOUR LEADERSHIP AT WORK TO SUPPORT ESOPS

Thank you to our volunteer leadership for their continued commitment and service to TEA and to our ESOP culture and community. You are doing an outstanding job!

Derrick Vick Chair

Freedom Industries, Inc. President

Becky Streff Secretary/Treasurer

Holden Industries, Inc. Vice President of People Operations

Steve Earle Vice Chair

Mid South Building Supply, Inc. Vice President of Kitchen Operations

Karen Ellis Immediate Past Chair

Superior Farms, Transhumance Holding Company Executive Vice President of HR

BOARD OF DIRECTORS MEMBERS

Peter A. Ney Chair, Employee Ownership Foundation

EA Engineering, Science, and Technology, Inc., PBC Executive Vice President, Treasurer and Director

Brian Bowers Chair, State and Regional Chapter Council

Bowers + Kubota Consulting, Inc. President & CEO

Gary Shorman PPC, At Large Membership Representative

Eagle Communications Trustee

Trey Winthrop Corporate At-Large Member

Bob’s Red Mill Natural Foods, Inc. Chief Executive Officer

Peter Jones Chair, Advisory Committees

Tucker Ellis, LLP Counsel

Ben Holder Chair, Public Policy Council

Plastic Products, Inc. President & CEO

Brian Ippensen Professional At-Large Member

TI-TRUST, Inc. President

Your Donation Drives Growth

740

ESOP Employee Accelerator participants completed the ESOP Employee Accelerator, providing nonmanagement and new employee owners with core business and ESOP fundamentals

23

Countries represented at the Oxford Symposium on Employee Ownership, a global gathering of the leaders, stakeholders, and government decision-makers in the field of employee ownership

$35,000

7

Given to Trustee Scholars recipients, a scholarship program for dependents of employee owners and employee owners under the age of 22

43

Member ESOP CEOs and CFOs attended the inaugural Leading in an Ownership Setting TM , a world-class leadership development program in partnership with the University of Virginia Darden Executive Education & Lifelong Learning

Educational videos examining ESOP formation and highlighting ESOP professional experiences

32

Thanks to amazing donors like you, the Employee Ownership Foundation has helped employee owners flourish and has expanded the awareness of employee ownership throughout the world for over 30 years.

245

Louis O. Kelso Fellowships given to academics pursuing employee ownership research

17

To learn about all the programs and their impact go to EmployeeOwnershipFoundation.org

Charles R. Edmunson Scholarship awards given to individuals who play a significant role in building and leading their company’s ownership culture

Research projects strengthened employee ownership and ESOP communication practices through our partnership with Rutgers University

THE ESOP ASSOCIATION

ADVISORY COMMITTEE CHAIRS

Led by Peter Jones, the Advisory Chairs Council collaborates with the Advisory Committees to deliver TEA’s exceptional education programs. We extend our sincere thanks to the chairs and committee members for their continued support of and commitment to promoting the ESOP community and culture.

Peter Jones Chair, Advisory Committees 2026-2028

Tucker Ellis, LLP Counsel

Meredith Fiocchi Chair, Advisory Committee on Ownership Culture 2025-2027

Wells Fargo AVP - Investments

Alan Kandel Chair, Advisory Committee on Legislative & Regulatory 2026-2028

Husch Blackwell LLP Partner

Avery Chenin Chair, Advisory Committee on Fiduciary Issues 2025-2027

SCJ Fiduciary Services General Counsel

Christel Jimenez Chair, Advisory Committee on Administration 2026-2028

Principal VP Consulting

Sean Kelleher Chair, Advisory Committee on Finance 2025-2027

First Financial Bank Managing Director

Hillary Hughes Chair, Advisory Committee on Valuation 2025-2027

Prairie Capital Advisors, Inc. Managing Director

Our heartfelt appreciation goes out to the outgoing Advisory Committee Chairs - Cara, Renee, and Matt - for their invaluable service to the Association, our membership, and the ESOP community. We are truly grateful for your expertise and guidance over the past two years!

Cara Benningfield Chair, Advisory Committee 2024-2026

FORVIS MAZARS Partner

Renee Stadtmueller Chair, Advisory Committee on Administration 2024-2026

Blue Ridge Associates Managing Director

Matt Hancock Chair, Advisory Committee on Ownership Culture 2025-2026

Praxis Consulting Group, Inc. Principal

The ESOP Association National Events

To learn more and register for The ESOP Association’s events, visit esopassociation.org/events.

CFO SUMMIT 2026

June 28-30, 2026 | Sonoma, CA

The ESOP Association is proudly convening the second annual CFO Summit, bringing together ESOP finance leaders to explore the latest trends and tackle the biggest challenges that are shaping the current business landscape.

CEO SUMMIT 2026

August 23-25, 2026 | Rancho Palos Verdes, CA

Join us at the Terranea Resort for what has become a mustattend event for ESOP CEOs. We designed the Summit with the needs of today’s ESOP President/CEO in mind to strengthen your leadership toolkit.

EMPLOYEE OWNED 2026

November 1-4, 2026 | Las Vegas, NV

The world’s largest and premier Employee Ownership event. With world-class speakers, networking and educational opportunities, this is one conference you can’t afford to miss!

THE PROFESSIONALS’ FORUM 2027

February 2027

Join others who provide professional services to ESOP companies—including valuation, legal, and tax advice—at this special, interactive event. Compare notes on best practices and the latest legal and regulatory happenings.

NATIONAL CONFERENCE 2027

May 12-14, 2027 | Washington, DC

The premier event for ESOP culture, communications and advocacy! Learn from award-winning keynote speakers and the best communicators in the ESOP community, network with your peers and meet your elected officials.

PUBLIC POLICY COUNCIL

Thank you to our Public Policy Council for their commitment and service to the Association and to our ESOP culture and community. We appreciate all you do!

EXECUTIVE COMMITTEE OF THE PUBLIC POLICY COUNCIL

Ben Holder Chair

Plastic Products, Inc. President & CEO

Marcus Piquet

Professional Member Representative

AmbroseAdvisors

Senior Managing Director

Matthew Sharpe ESOP Company Representative (Up to 250 Employees)

Alltek Energy Systems President & CEO

Rick Pearl At Large Membership Representative

Faegre Drinker Partner

Barbara Clough At Large Membership Representative

Blue Ridge Associates Managing Director

Kim Abello Wells Fargo Advisors

Kerri Ames Baxter, Inc.

Deepa Ayer Menke & Associates, Inc.

Ted Becker McDermott, Will & Schulte LLP

Sarah Bothner

The Capital ESOP Group at UBS

Karen Ellis

Immediate Past Chair of TEA

Superior Farms, Transhumance Holding Company

Executive Vice President of HR

Jean Bergman

Chapter Advocacy Officer Representative

Ramaker & Associates, Inc. Vice President & Chief Financial Officer

Trey Winthrop ESOP Company Representative (More than 250 Employees)

Bob’s Red Mill Natural Foods, Inc. Chief Executive Officer

Chris Hicks At Large Membership Representative

Gemini Industries President & CEO

Gary Shorman At Large Membership Representative

Eagle Communications Trustee

MEMBERS OF THE PUBLIC POLICY COUNCIL

Brian Bowers Bowers + Kubota

Clifford Canavera Canavera Financial Group, LLC

Elizabeth Di Cola EDiCola Consulting

Cat Dunham PatchPlus Consulting, Inc.

Steve Earle Mid South Building Supply, Inc.

Mariann Fuller Columbia Chemical Corporation

Will Giese The Soloray Corporation

Jenna Hayes Palmer Holland, Inc.

Rob Hilton South Park Advisors, LLC

Brian Ippensen TI-TRUST, Inc.

Sean Jackson Bob’s Red Mill Natural Foods, Inc.

Alan Kandel Husch Blackwell LLP

Amy Kirby DCS Corporation

Diane Lewis The Lewis Chemical Company

Joseph Lucot Guttman Holdings, Inc.

Christy Magee DVL Group, Inc.

Julia Mangin Recology

Peter Ney EA Engineering, Science, and Technology, Inc., PBC

Griffin O’Gara Krieg DeVault LLP

Zahra Rahnama Performance Composites, Inc.

Kathleen Scheidt Ice Miller LLP

James Steiker

SES ESOP Strategies LLC

Eric Tober Cornerstone Government Affairs

David Waltmon

Cisco-Eagle

Jason Wellman

ESOP Partners

THE ESOP ASSOCIATION

STATE & REGIONAL EVENTS

CALIFORNIA/ NEVADA

California & Nevada Annual Conference

September 16-18

Atlantis Resort & Casino

Reno, NV THEESOP ASSOCIATION

FLORIDA

Florida ESOP Employee Accelerator

December 1

Vermeer Southeast Ocoee, FL

HAWAII

Hawaii

ESOP Employee Accelerator

June 16

Bowers + Kubota

Honolulu, HI

Annual Conference

October 6

THEESOP ASSOCIATION THEHAWAI CHAPTEROF

Japanese Cultural Center of Hawaii

Honolulu, HI

HEART OF AMERICA

Kansas & Missouri

ESOP Employee Accelerator

June 4

Dialectic Engineering

Kansas City, MO

ILLINOIS

Illinois

ESOP Employee Accelerator

May 14

Parksite Inc.

Bolingbrook, IL

Golf Outing

June 24

THEILLINOIS CHAPTER OF

THEESOP ASSOCIATION

INDIANA

Indiana Events Coming Soon!

IOWA/

NEBRASKA

Iowa & Nebraska

Chapter Corridor ESOP Event

May 27

TrueNorth Companies

Cedar Rapids, IA

ESOP Employee Accelerator

June 5

Wright Service Corp West Des Moines, IA

Chapter Central ESOP Event

June 19

Wright Service Corp.

West Des Moines, IA

Golf Outing & Roundtables

July 27

Elmcrest Country Club

Cedar Rapids, IA

ESOP Employee Accelerator

August 25

Farmers National Company Omaha, NE

MID-ATLANTIC & CAROLINAS

Maryland, North Carolina, South Carolina, Virginia, Washington, DC, & West Virginia

ESOP Employee Accelerator

May 12

Nielsen Builders and LD&B Insurance

Harrisonburg, VA

CEO/CFO Roundtable

June 2

Mid South Building Supply Springfield, VA

HR Roundtable

August 4

Bloomingdale Golf Club

Bloomingdale, IL

Chicago Downtown Event

July 23

Wells Fargo Offices

Chicago, IL

Mid South Building Supply Springfield, VA

Fall Conference

September 15-16

Hilton Raleigh North HIlls

Raleigh, NC

MICHIGAN

Michigan Events Coming Soon!

MINNESOTA/

DAKOTAS

Minnesota, North Dakota, & South Dakota

Summer Conference

June 11

Holiday Inn Fargo Fargo, ND

Golf Outing

July 21

The Links at Northfork Ramsey, MN

ESOP Employee Accelerator

August 27

ISG

Sioux Falls, SD

NEW ENGLAND

Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, & Vermont

CFO Conference

May 14 - 15

The Westin Portland Harborview Portland, ME

HR Conference

August 20-21

BL Companies, Inc. Meriden, CT

NEW YORK / NEW JERSEY

New York & New Jersey

Let’s Talk ESOPs - NYC

May 28

Grand Central Oyster Bar & Restaurant

New York, NY

NORTHWEST

Alaska, Idaho, Montana, Oregon, & Washington

Let’s Talk ESOPsWashington

June 22

Seattle Gymnastics Academy Seattle, WA

Fall Conference

October 7-8

Embassy Suites Portland Downtown Portland, OR

OHIO/KENTUCKY

Ohio & Kentucky

Thoroughbred Conference

August 3-4

Louisville, KY

PENNSYLVANIA/ DELAWARE

Pennsylvania & Delaware

ESOP Employee Accelerator

May 19

Avail Technologies, Inc.

State College, PA

Let’s Talk ESOPs

July 14

KTA-Tator, Inc. Pittsburgh, PA

ESOP Employee Accelerator

August 11

Kreischer Miller Horsham, PA

ROCKY MOUNTAIN

Arizona, Colorado, New Mexico, Utah, & Wyoming

ESOP Employee Accelerator

July 15

GH Phipps Denver, CO

Fall Conference

September 10-11

Embassy Suites Denver

Downtown Convention Center Denver, Co

STATE & REGIONAL EVENTS

SOUTHEAST

Alabama, Arkansas, Georgia, Louisiana, Mississippi, & Tennessee

ESOP Onsite

May 14

5by5 Agency Brentwood, TN

Board of Directors Conference

September 30

THE SOUTHEAST CHAPTER OF TEXAS/ OKLAHOMA

THEESOP ASSOCIATION

The Chattanoogan Hotel Chattanooga, TN Fall Conference

October 1

The Chattanoogan Hotel Chattanooga, TN

Visit TEA’s Chapter Event Site, esopassociation.org/ events/chapters, for more info. We hope to see you there!

Texas & Oklahoma

ESOP Employee Accelerator

July 17

Stress Engineering Houston, TX

TEXAS/OKLAHOMA CHAPTER O F

THEESOP ASSOCIATION

Let’s Talk ESOPs - Dallas

August 4

Cisco-Eagle Coppell, TX

Let’s Talk ESOPsOklahoma City

August 5

OKC Hall of Fame

Oklahoma City, OK

Fall Conference

September 30 - October 1

Renaissance Dallas North Hotel Dallas, TX

ESOP Employee Accelerator

November 17

Cisco Eagle Coppell, TX

WISCONSIN

Wisconsin

Summer Conference

June 25-26

Brookfield Conference Center Brookfield, WI

Golf Outing

August 10

Monona Terrace Community & Convention Center Madison, WI

Member Showcase

August 21

Weinbrenner Shoe Company Merrill, WI THEESOP ASSOCIATION THE WISCONSIN CHAPTER OF MIDWEST REGIONAL CONFERENCE

Illinois, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota, & Wisconsin

September 22-24

Iowa Events Center

Des Moines, IA

GREAT LAKES REGIONAL CONFERENCE

Indiana, Kentucky, Michigan, & Ohio

September 29 - October 1

Sheraton Indianapolis Hotel

At Keystone Crossing Indianapolis, IN

NORTHEAST REGIONAL CONFERENCE

Connecticut, Delaware, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, & Vermont

October 7-9, 2026

Mystic Marriott Hotel & Spa Groton, CT

The EOF created the ESOP Employee Accelerator for non-managerial staff and new employee owners. This one-day, interactive program blends classwork and small group discussions to learn about core business concepts and ESOP principles in a dynamic, engaging format. Through the Accelerator’s flagship business simulation, participants collaborate on key business challenges, test their employee-ownership knowledge, and gain insight into how their decisions affect coworkers and shape company performance across the organization. Participants learn how their daily actions influence company performance and long-term value.

Why it matters

Lawmakers want to hear from you so they can make informed decisions about ESOPs and your livelihood.

EOAN provides a unified voice for our community to educate and influence elected officials when it matters most. As an EOAN member, you have the information and tools you need to be an active participant on the state and federal levels.

How it works

1. Sign Up: Provide your email and home address so we can automatically connect you with your representatives.

EOAN

2. Get Informed: When the government is deliberating something that will affect ESOPs, you will receive an email with all the info you need on the issue.

3. Take Action: Send the pre-written message to your representatives informing them of the issue and requesting that they support ESOPs.

STATE & REGIONAL CHAPTER COUNCIL

Thank you to our Executive Committee of the State & Regional Chapter Council for your commitment, support, and service to TEA’s 19 chapters. We are grateful for your continued leadership and contributions.

EXECUTIVE COMMITTEE OF THE STATE & REGIONAL CHAPTER COUNCIL

Brian Bowers

State & Regional Council Chair

Bowers + Kubota Consulting, Inc. President & CEO

Steve Earle

Mid South Building Supply Vice President of Kitchen Operations

Emilie Poulakos

OwnersEdge, Inc. Director of Human Resources

Becky Streff Immediate Past Chair

Holden Industries, Inc. Vice President of People Operations

Mariann Fuller

Columbia Chemical Corporation Chief Financial Officer

Michelle Steltz Opportunities for Positive Growth, Inc. Financial Controller

THANK YOU TO OUR 2026 CHAPTER PRESIDENTS

CALIFORNIA / NEVADA CHAPTER

Susan Yoshiba-Manzon

LeFiell Manufacturing Company Director of Human Resources & EHS

FLORIDA CHAPTER

Ted Bill

Wire Experts Group, Inc

CEO

HAWAII CHAPTER

David Paul

Aqua Engineers, Inc.

President/CEO

HEART OF AMERICA CHAPTER

Max Wilber

Christensen Group, Inc. Vice President

ILLINOIS CHAPTER

Andrew Harling

Prairie Capital Advisors, Inc.

Senior Marketing Associate

INDIANA CHAPTER

Renee Mundell

Radian Research, Inc.

Manager - Customer Service & Support

IOWA / NEBRASKA CHAPTER

Angie Hoover

Rayser Holdings

Chief Operating Officer

Frank Cinatl Abatix Corp Executive Vice President & CFO

MICHIGAN CHAPTER

Charles Harris

Precision Electric Motor Sales CFO

MID-ATLANTIC & CAROLINAS

CHAPTER

Jay Collins VP & COO

Freedom Industries, Inc.

MINNESOTA / DAKOTAS CHAPTER

Tiffany Bennett

Plastic Products Company, Inc. Corporate Human Resources Manager

NEW ENGLAND CHAPTER

Amy Huot Manager, Product Operations Proponent

NEW YORK / NEW JERSEY CHAPTER

Matthew Sharpe

Alltek Energy Systems, Inc.

President

NORTHWEST CHAPTER

Michelle Cohens

Sletten, Inc.

HR

Sean Jackson

Bob’s Red Mill Natural Foods, Inc. ESOP Administrator

OHIO / KENTUCKY CHAPTER

Jessica Donley

CTL Engineering, Inc.

Sr. Marketing Coordinator

PENNSYLVANIA / DELAWARE CHAPTER

Christy Magee

DVL Group, Inc. Senior HR Director

ROCKY MOUNTAIN CHAPTER

Paula Cross

Colorado Poolscapes CFO

SOUTHEAST CHAPTER

Brannen Kerbo

PeopleTec ESOP Manager

TEXAS / OKLAHOMA CHAPTER

RD Patel

New Leaf Service Contracts, Inc. CFO

WISCONSIN CHAPTER

Dave Elliott

QPS Employment Group, Inc.

Director Corporate Projects

LEADING IN AN OWNERSHIP SETTINGTM

ESOP EXECUTIVE EDUCATION PROGRAMS START SOON.

CEOs AND CFOs—REGISTER NOW. LIMITED ENROLLMENT.

Our partnership with the Darden School allows ESOP CEOs and senior finance leaders to undergo a rigorous, immersive, and shared curriculum that addresses areas of knowledge a modern ESOP executive must possess in today’s business environment, at a value-oriented price.

WORLD RENOWNED LEARNING

Darden faculty and leading ESOP practitioners deliver executive level instruction backed by more than 20 years of leadership development experience. Leading in an Ownership Setting TM is the only ESOP executive education program that offers you a fully accredited certificate from a world-class business school, and continues that experience with unmatched, regular networking opportunities.

REGISTER SOON!

PROGRAM DATES

CEOs/Presidents

Part 1: July 12-16, 2026

Part 2: December 06-11, 2026

CFOs

Part 1: June 14-18, 2026

Part 2: October 04-08, 2026

As a member benefit of The ESOP Association, your company has access to three custom designed insurance programs:

❑ Healthcare Group Captives designed for members looking for a more sustainable and affordable health insurance solution.

❑ Workers Compensation Group Captive designed for members who spend over $100,000 in premium and have an effective safety management system. Up to 50% premium returns for good claims performance .

❑ Management Liability Program designed for members to provide coverage for D&O, Employment Practices, Fiduciary - ESOP Liability, Crime and Cyber.

Our firm’s commitment to each one of our fellow association members is to provide a cost -benefit analysis on any or all of these programs at no cost and with no obligation.

Interested to learn more?

Come to our Conference Session on Friday at 12:50 PM or set up a meeting with our Team by contacting Bryce Austell on his cell at 774-737-6064 has merged with

Join Us Thursday During Lunch!

JOIN US AS WE HONOR EXCELLENCE

• Employee Owner of the Year

• Chapter Membership Development

• Membership Recruitment by Professional Member

• ESOP Company of the Year

• Chapter of the Year

• Outstanding Chapter Officer of the Year

This year The ESOP Association will be presenting an additional prestigious award for service and dedication to employee ownership.

Wendy Harrill R&K Solutions

Mid-Atlantic & Carolinas Chapter

BOWERS KUBOT A +

Bowers + Kubota Consulting, Inc. Hawaii Chapter

Michael Keeling Founder’s Award

Christine Perry Cisco-Eagle, Inc. Texas / Oklahoma Chapter

Jennifer Pierce HdL Companies California / Nevada Chapter

D

Plastic Products Company, Inc. Minnesota / Dakotas Chapter Ramaker & Associates, Inc. Wisconsin Chapter

James Bonham President and CEO

Cheyenne Arnold

Senior Director, Visual and Graphic Communications

Sharon Baldwin CRM Application Manager

Erin Billmayer Manager, Events

Yvonette Brown Accounting Manager

Krista Candela Director, Executive Operations

Vanessa Davila Manager, Video, Audio, and Digital Media Content

Danielle Duffy Senior Director, Operations

Jennifer Edwards Vice President, Member Services

Greg Facchiano

Vice President, Government Relations and Public Affairs

Kelly Forester Chapter Director

Erica Guillama Director, National Conferences

Madie Goodman

Marketing and Communications Coordinator

Demetrios Karoutsos Senior Director, External Communications and Public Affairs

Dan Marcue Vice President for Chapters and Educational Programs

Kristie Mark Chief Operations Officer

Aaron Moberger

ESOP Employee Accelerator Director

EB Nesbitt

Managing Senior Director, Content Operations and Technical Writing

THE ESOP ASSOCIATION STAFF

Damon Roberts Salesforce Administrator

Patrick Russo Director, Public Policy

Karen Saucier Coordinator, Member Services

Erica Beck Spencer Senior Director, Curriculum and Certification Programs

Valeria Ten Controller

Kale Tissue Chapter Director

Chelsea Walsh Director, National Conferences

Darby Winger Chapter Director

Jen Wood Senior Director, Chapter Program Coordination

National ESOP Survey Closing Soon

Rutgers University and The ESOP Association are partnering on a national research study to identify the practices and outcomes that drive strong ESOP performance. The research window is closing soon, and this is the final opportunity for ESOP companies to shape the research defining what strong ESOPs look like.

Your ESOP company will receive—at no cost:

• A confidential, company-specific report on employee outcomes

• Benchmarking against other ESOP companies (business names remain anonymous) and a national non-ESOP sample

• Research driven insights to strengthen employee engagement

Simple to participate—before the study closes:

• The employee survey takes approximately 15 minutes to complete

• Employees respond directly through Rutgers’ Qualtrics platform; individual responses are not shared or traceable

• Rutgers provides draft employee messaging

• Researchers conduct one executive interview

No cost. Minimal time. Meaningful results.

Scan the QR code to share your experience and help ensure the research reflects ESOP companies like yours.

Help define what makes ESOPs succeed—while gaining insights you can use right away.

SESSION TRACK INFORMATION

ADMINISTRATION

This track will answer your questions about the ESOP administration processes. Sessions will cover the administration cycle, including planning, distributions, testing, repurchase and more. CEOs, CFOs, controllers, HR professionals, and employee owners who need to understand and communicate how the plan works will benefit from these unique insights on administering an ESOP.

BOARD OF DIRECTORS & TRUSTEES

This track will help directors and trustees understand each other’s roles and work together as a highperforming team. Participate in a mock board meeting, discuss the interplay between trustees and directors, review board succession planning practices, discuss technical aspects of managing an ESOP, explore governance issues, and more, in this track designed exclusively for trustees and board members.

C-SUITE

Designed exclusively for Presidents/CEOs, CFOs, and equivalent roles, this track explores how leading an employee-owned company differs fundamentally from leading a conventional business. Not only do culture and communications play a more significant role, but the technical aspects of ESOPs can heavily influence business decisions. Research continues to show that ESOPs deliver unique success and competitive advantage in the marketplace. Are you making use of all these tools? Attend this track to learn, share, and network with fellow executives who share a strategic mindset and lead employee-owned businesses. Session and roundtable topics include leadership, change management, critical thinking, decision-making, conflict management, ESOPs as holding companies, responding to unsolicited offers, acquiring a non-ESOP competitor, and more.

CULTURE & COMMUNICATIONS

An ESOP company’s competitive advantage often hinges on its corporate culture and ESOP communication. This track provides tried-and-true, cutting edge communication practices that will engage employee owners and keep your ESOP culture strong. Learn about the challenges that will soon face your company—and how to leverage your culture to overcome obstacles and achieve success for your employee owners and your business.

ESOP FUNDAMENTALS

Expand your knowledge of the core topics of ESOP finance, valuation, accounting, fiduciary matters, and legal and regulatory considerations. From basic concepts to advanced technical issues, this track will give you the answers and insights you need to understand how the ESOP impacts your business— whether your ESOP is brand new or well-established. Attend to stay up to date on the latest technical and legal issues facing ESOPs, while building your network of ESOP resources.

CHAPTER SHOWCASE

Come hear truly amazing stories of employee engagement, celebration of employee ownership, and more from ESOP companies and officers hailing from TEA’s nationwide network of 19 chapters. These sessions are the best of the best of Chapter conference sessions.

OPEN ROUNDTABLE DISCUSSIONS

These roundtables will offer an open dialogue and deeper appreciation for presentations in other sessions as well as hot topics now trending on The HUB. The moderators of EO Management and ESOP Professionals will share their thoughts and encourage you to share yours! Sessions will include topics for CEOs, CFOs, CHROs, employee owners and more.

At-A-Glance Track Key

Track

Administration

C-Suite

Culture & Communications

Open Roundtable Discussions

Wednesday May 6, 2026

Time

Board of Directors & Trustee

ESOP Fundamentals

Chapter Showcase

Networking Event

7:30 AM - 9:00 AM ESOP Advocacy Day Check-In and Breakfast Columbia A and B

9:00 AM - 5:00 PM ESOP Advocacy Day with Scheduled Congressional Meetings Capitol Hill

2:00 PM - 6:00 PM National Conference Registration Open Ballroom Lobby

3:00 PM - 5:00 PM Advisory Chairs Meeting

Olympic - 2nd Floor Conference Level

5:30 PM - 7:00 PM Welcome and Congressional Reception District A, District B, Ballroom Lobby

8:00 PM - 9:30 PM Monument Bus Tour Hyatt Regency Main Lobby

NOVEMBER 1-4, 2026

THE ARIA LAS VEGAS

The world’s largest gathering of employee owners has a new home at the ARIA Las Vegas! Featuring NEW & expanded educational opportunities, plus world class speakers and networking. Register Today! Scan the QR Code to register now. Only a LIMITED NUMBER of Early Bird registrations available!

SCHEDULE

AT-A-GLANCE

Thursday May 7, 2026

Time Session

7:00 AM - 5:00 PM Registration Open Ballroom Lobby

7:15 AM - 8:15 AM ESOP PAC Breakfast (Ticketed Event) Capitol A

7:30 AM - 8:15 AM Networking Breakfast Regency Ballroom

8:30 AM - 9:45 AM Opening Keynote Speaker: Kathy Varol Regency Ballroom

10:00 AM - 11:00 AM ESOP Formation Roadmap Columbia C

10:00 AM - 11:00 AM HR Roundtable Discussion Congressional C/D

10:00 AM - 11:00 AM Making It Matter: Guide to EO Committees Columbia B

10:00 AM - 11:00 AM Navigating Your First Year of ESOP Communication Columbia A

10:00 AM - 11:00 AM New ESOP Essentials Capitol Room B

10:00 AM - 11:00 AM Q&A with Keynote Speaker: Kathy Varol Capitol Room A

10:00 AM - 11:00 AM The Basics of Valuation Congressional A

11:10 AM - 12:10 PM Capital Options for ESOP Companies Columbia C

11:10 AM - 12:10 PM Employee Value from Performance to Paycheck to Payout - ESOP Wealth! Columbia A

11:10 AM - 12:10 PM From Values to Voice: Elevating Ownership Culture Through Values-Driven Messaging   Columbia B

11:10 AM - 12:10 PM Mock Board Meeting - Remaining Independent Congressional A

11:10 AM - 12:10 PM New to ESOPs? Let’s Talk Congressional C/D

11:10 AM - 12:10 PM Trust is the Strategy: Building Credibility, Reliability, Alignment Capitol Room A

11:10 AM - 12:10 PM Year in the Life of an ESOP Capitol Room B

12:20 PM - 1:50 PM Excellence in Employee Ownership Awards Lunch Regency Ballroom

2:00 PM - 3:00 PM Communications Committees Roundtable Discussion Congressional C/D

2:00 PM - 3:00 PM Diving Deep into Diversification and Other Early Withdrawals Capitol Room B

2:00 PM - 3:00 PM Five Traits of an Effective Employee Owner Columbia B

2:00 PM - 3:00 PM How Does the ESOP Trustee Elect the Board of Directors? Congressional A

2:00 PM - 3:00 PM Investing the 1042 Rollover Columbia C

2:00 PM - 3:00 PM

Leadership Development that Works: Using Leadership Development to Advance Company Strategy Capitol Room A

2:00 PM - 3:00 PM Supporting Leadership Transitions Within Your Organization Columbia A

Thursday May 7, 2026

Time

3:10 PM - 4:10 PM Building Company Culture Through Learning Technology

3:10 PM - 4:10 PM CEO Roundtable

Columbia B

Capitol Room A

3:10 PM - 4:10 PM Communicating the ESOP to a Diverse Audience Congressional C/D

3:10 PM - 4:10 PM ESOP Plan Design

3:10 PM - 4:10 PM Igniting Ownership Leadership: Developing Leaders Who Think, Act, and Communicate Like Owners

3:10 PM - 4:10 PM When the Government Comes Knocking... Preparing for IRS Audits and DOL Investigations

Columbia C

Columbia A

Capitol Room B

3:10 PM - 4:10 PM Who Should be on Your Board of Directors Congressional A

4:20 PM - 5:20 PM ACE Squadron - Prepare for ESOP Take Off!!

4:20 PM - 5:20 PM ESOP Valuation in Uncertain Times

Columbia B

Capitol Room B

4:20 PM - 5:20 PM Guidance for Internal Trustees & Fiduciaries - What You Need to Know Congressional A

4:20 PM - 5:20 PM Maturing ESOPs: Balancing Sustainability, Growth, and Governance

4:20 PM - 5:20 PM The Fundamentals of Leveraged ESOP Accounting

Capitol Room A

Columbia C

4:20 PM - 5:20 PM Unlocking the Power of AI for ESOP Communications Success Congressional C/D

4:20 PM - 5:20 PM What's New Under ERISA and the Code: Legal Update

5:20 PM - 6:30 PM Evening Reception

What is ESOP PAC?

Columbia A

District A, District B, Ballroom Lobby

ESOP PAC is the voluntary, non-partisan Political Action Committee (PAC) of The ESOP Association. ESOP PAC is the oldest political entity specifically charged with supporting pro-employee ownership elected officials.

Formed in 1988, ESOP PAC allows our members and the larger employee ownership community to pool small personal contributions from thousands of donors into larger donations. These donations help elect and re-elect federal candidates to Congress who promote the employee ownership agenda.

For more information, please contact: Patrick Russo prusso@esopassociation.org

SCHEDULE

AT-A-GLANCE

Friday May 8, 2026

Time Session

7:30 AM - 12:00 PM Registration Open Ballroom Lobby

7:30 AM - 9:00 AM Networking Breakfast Regency Ballroom

8:00 AM - 9:00 AM Advisory Committee Meetings See Page 46

9:10 AM - 10:10 AM Beyond Training: Embedding Leadership Into Your Culture Capitol Room A

9:10 AM - 10:10 AM CFO Roundtable Congressional C/D

9:10 AM - 10:10 AM ESOP Distribution: From Policy to Sustainability Capitol Room B

9:10 AM - 10:10 AM Telling Your ESOP Story Through Video Columbia B

9:10 AM - 10:10 AM Under the Microscope - Valuation Issues in IRS and DOL Investigations Columbia A

10:30 AM - 11:30 AM Assess. Align. Advance. Driving Effective Succession through Leadership Assessment Congressional A

10:30 AM - 11:30 AM DOL Investigations - Lessons Learned Columbia A

10:30 AM - 11:30 AM Flipping the Script: A Fresh Take on Connecting with Younger Employee Owners Columbia B

10:30 AM - 11:30 AM Managing Repurchase Obligations for a Mature ESOP Capitol Room B

10:30 AM - 11:30 AM Questions I Wish I Asked Congressional C/D

11:40 AM - 12:50 PM Networking Lunch Regency Ballroom

12:50 PM - 1:50 PM ESOP Legal Update Columbia A

12:50 PM - 1:50 PM Own It: How Strategic Communication Fuels ESOP Culture Columbia B

12:50 PM - 1:50 PM Reviewing the Annual Valuation Report: An Interactive Workshop Capitol Room B

12:50 PM - 1:50 PM Owners Prevent Trend. Buyers Scramble At Renewal: A Strategic Approach to ESOP Health Insurance Capitol Room A

12:50 PM - 1:50 PM The ESOP Advantage: Mastering Growth Through Strategic Acquisitions Congressional A

2:00 PM - 3:00 PM Understanding TEA’s New AACE Award Guidelines & Submission Requirements Capitol Room A

2:00 PM - 3:00 PM Advantages and Challenges of Roth ESOPs Capitol Room B

2:00 PM - 3:00 PM Cautionary Areas to Review in ESOP Valuations Congressional A

2:00 PM - 3:00 PM Mock Debate in ESOP Transaction Litigation Columbia A

REGISTRATION OPEN

2:00 PM - 6:00 PM Location: Ballroom Lobby

ADVISORY CHAIRS MEETING

3:00 PM - 5:00 PM Location: Olympic - 2nd Floor Conference Level

WELCOME & CONGRESSIONAL RECEPTION

5:30 PM - 7:00 PM

Location: District A, District B, Ballroom Lobby NETWORKING EVENT

Summary: Welcome to Washington, DC—it’s time to reconnect with friends and colleagues. We invite all attendees to join us for the TEA Welcome and Congressional Reception, where you can catch up and network with fellow National Conference participants.

This year, we will host the reception at the conference hotel, the Hyatt Regency on Capitol Hill. Stop by after a day on the Hill or once you’ve finished registering and picked up your badge, and enjoy an evening of drinks, appetizers, and relaxed conversation before two busy days ahead.

MONUMENT BUS TOUR

8:00 PM - 9:30 PM

Location: Hyatt Regency Main Lobby NETWORKING EVENT

Summary: Experience the majesty of our nation’s capital like never before as it glows in breathtaking splendor beneath the night sky. Join us on a captivating tour of Washington’s most iconic monuments, brought to life with fascinating stories about the city and its history.

Please note: This is a ticketed event, and you must purchase a ticket to participate. The tour does not include food or beverages.

Departure point: Hyatt Regency Main Lobby

THURSDAY

REGISTRATION OPEN

7:00 AM - 5:00 PM Location: Ballroom Lobby

ESOP PAC BREAKFAST (TICKETED EVENT)

7:15 AM - 8:15 AM Location: Capitol A

Summary: The ESOP PAC Breakfast features a nonpartisan political briefing from nationally recognized analyst Sean Trende, Senior Elections Analyst, RealClearPolitics; Author, The Lost Majority: Why the Future of Government is Up For Grabs and Who Will Take It; CoAuthor, The Almanac of American Politics. A sought-after commentator on electoral trends and political realignment, Trende also serves as a Lecturer in Political Science at The Ohio State University. He is widely known for delivering clear, data-driven insight into the evolving political landscape. For more information about the event or ESOP PAC, contact Patrick Russo at prusso@esopassociation.org.

NETWORKING BREAKFAST

7:30 AM - 8:15 AM Location: Regency Ballroom

Summary: Grab your morning coffee and breakfast with your fellow employee owners! Head to the Regency Ballroom and take some time to network and get ready for the Opening Keynote.

OPENING KEYNOTE ADDRESS

Kathy Varol

Former Head of Global Purpose Strategy at Adidas

8:30 AM - 9:45 AM

Location: Regency Ballroom

Keynote Highlight: Unlock Exponential Results By Nurturing Purpose, People and Culture. Data shows that businesses that nurture their purpose, people, and culture unlock exponential results: engaged employees, loyal consumers, increased innovation, and accelerated growth. In this captivating keynote, Kathy Varol shares why shifting the focus from your output (revenue) to your inputs (purpose, people and culture) will drive better results. She will also share concrete strategies you can use right away to nurture each of these business inputs.

Be sure to join us as Kathy enlightens participants about:

• An important lesson businesses can learn from the best performing athletes

• The toxic beliefs that have infected workplace cultures (and how to shift them)

• How the world’s most loved companies use purpose to cultivate enviable consumer loyalty (and how you can too)

• Unconventional ways to innovate your talent pipeline and increase diversity

• The secret to creating a culture of collaboration, innovation, and continuous improvement

About: Kathy spent two decades inside the corporate world—leading global strategy, shaping brand purpose, and sitting in the rooms where decisions that move billions are made. She joined the Peace Corps straight out of college, and along the way she has gutted fish in Alaska, cleaned hotel rooms, and taught kickboxing in Morocco. Believing that business can also be a force for good, Kathy’s career arc included leading a corporate transformation at Adidas, a $22 billion brand, as head of Global Purpose Strategy. Now, she shares her knowledge with audiences on how to embed a purpose into their company in order to transform their culture, their business, and impact the world.

Q&A WITH KEYNOTE SPEAKER: KATHY VAROL

10:00 AM - 11:00 AM

Audience: CEOs, CFOs

Location: Capitol Room A Level: Intermediate C-SUITE

Summary: Continue the conversation with Kathy Varol. This session is reserved for CEOs and CFOs.

Speaker(s): Kathy Varol, Former Head of Global Purpose Strategy at Adidas; National Conference Keynote Speaker 10:00 AM - 11:00 AM

Learning Objectives:

• Understand how purpose-driven strategies can strengthen business performance

• Explore practical approaches for embedding sustainability, diversity, and social impact into corporate strategy

• Identify leadership actions CEOs and CFOs can take to align purpose with financial and organizational goals

THURSDAY

10:00 AM - 11:00 AM

ESOP FORMATION ROADMAP

10:00 AM - 11:00 AM Location: Columbia C Level: Basic

Audience: CFOs, CEOs, Financial Managers, Board Members, Professionals

Summary: A streamlined introduction to the ESOP formation process, guiding attendees through the essential steps from initial feasibility to closing and post-transaction administration. Participants will learn how companies assess ESOP readiness, evaluate structural and financial considerations, and determine whether an ESOP aligns with their goals. The session highlights key components such as valuation, capital structure, tax and regulatory requirements, trustee and lender involvement, and the diligence needed to support a well-designed transaction.

Attendees will also gain clarity on how service providers collaborate throughout the process and what best practices help ensure a smooth, well-coordinated execution. By the end, participants will understand the major phases of ESOP formation, the critical decisions made along the way, and how to translate foundational concepts into a practical, actionable plan for pursuing employee ownership.

Learning Objectives:

• Identify and describe the key phases involved in forming an ESOP, from feasibility to post-transaction administration

• Analyze the core financial, legal, and regulatory considerations that impact ESOP design and implementation

• Apply foundational ESOP concepts to evaluate organizational readiness and develop an actionable formation plan

Speaker(s): Jacob Cook, CPA, Director, BDO Capital Advisors; Sean Power, Employee Stock Ownership Plans Co-Chair, Polsinelli

NEW ESOP ESSENTIALS

10:00 AM - 11:00 AM Location: Capitol Room B Level: Basic ADMINISTRATION

Audience: Internal Trustee, CFOs, CEOs, Board Members, Employee Owners

Summary: Gain knowledge of the work required to complete an administration cycle including planning, timing, and development of a timeline for completion of ESOP recordkeeping tasks. We will discuss best practices for navigating the planning, data gathering, compliance testing, and reviewing your plan document and TPA reports. Designed for those new to ESOPs, the session offers guidance on coordinating requests among multiple service providers, making plan contributions, managing required tax forms and benefit plan audits, and processing participant distributions. After this session Plan Sponsors will have a better understanding of the ESOP administration cycle and be armed with the tools to streamline the process and focus on what is important.

Learning Objectives:

• Understand the key steps and responsibilities in the ESOP administration process

• Prepare data, documentation, and timelines to support accurate and compliant ESOP administration

• Identify the roles, responsibilities, and coordination points among ESOP service providers

Speaker(s): Jon Williams, QKA, Vice President, ESOP Administration, Blue Ridge Associates; Maria Thiel, CPA, Director, BDO Capital Advisors

10:00 AM - 11:00 AM

NAVIGATING YOUR FIRST YEAR OF ESOP COMMUNICATION

10:00 AM - 11:00 AM Location: Columbia A Level: Basic CULTURE & COMMUNICATIONS

Audience: HR Staff, CFOs, CEOs, Employee Owners

Summary: The first year of ESOP communication plays a critical role in how employees understand and connect with ownership. ESOP leaders share real-world lessons from their first year as an employee-owned company, including what worked, what they would change, and how they built early momentum. Attendees will learn how to clearly explain ESOP basics, generate engagement and buy-in, avoid common communication missteps, and set the foundation for a strong ownership culture that lasts beyond Year One.

Learning Objectives:

• Identify key communication challenges during an ESOP rollout

• Apply best practices to effectively educate employees about ESOP benefits and ownership culture

• Develop strategies for sustaining effective ESOP communication beyond the first year

Speaker(s): Danny Lamastra, MBA, MA, ESOP Communication Consultant, Blue Ridge Associates; Chloe Thornhill, CFO, Rational 360, Inc.; Michael Zielinski, VP of Finance and Administration, Higley Construction

MAKING IT MATTER: GUIDE TO EO COMMITTEES

10:00 AM - 11:00 AM Location: Columbia B Level: Basic CHAPTER SHOWCASE

Audience: Internal Trustee, HR Staff, CFOs, CEOs, Financial Managers, Board Members, Employee Owners, Professionals

Summary: This is for anyone looking to build or strengthen an Employee Ownership Committee. We’ll cover practical strategies like building a diverse team, creating a space where everyone feels heard, setting clear goals, sharing responsibilities, and celebrating progress. You’ll leave with experience-based tips and ideas to make your meetings more effective, engaging, and truly meaningful.

Learning Objectives:

• Build a committee structure that maximizes engagement and minimizes burnout

• Define a clear mission and purpose to focus the work and share the load

• Leverage strengths, assign ownership and track results

Speaker(s): Kristina Kallen, Senior Internal Communications Manager, Bob’s Red Mill Natural Foods; Jennifer Page, Accounting and Payroll Administrator, Bob’s Red Mill Natural Foods

HR ROUNDTABLE DISCUSSION

10:00 AM - 11:00 AM Location: Congressional C/D Level: All

Audience: HR Staff

Summary: As the workforce continues to evolve, HR professionals face a myriad of challenges and opportunities. This roundtable discussion will bring together HR leaders to share their insights, experiences, and best practices in navigating the modern workplace.

Moderator(s): Christy Magee, Senior HR Director, DVL Group, Inc.

THURSDAY

10:00 AM - 11:00 AM

THE BASICS OF VALUATION

10:00 AM - 11:00 AM Location: Congressional A Level: Basic BOARD OF DIRECTORS & TRUSTEE

Audience: Internal Trustee, CFOs, CEOs, Financial Managers, Board Members, Employee Owners

Summary: We’ll walk through the core building blocks of valuing privately held companies for ESOP purposes, covering the three primary approaches valuation firms rely on—income, market, and asset-based methods—and when each tends to be most appropriate. Along the way, we’ll break down the key inputs and judgments that drive results, including normalization adjustments, discount rates, selection of comparable companies/transactions, and common discounts and premiums. Attendees will leave with a practical framework for understanding how valuation teams translate financial performance and market evidence into a defensible conclusion of value.

Speaker(s): Craig Olinger, CVA, Managing Partner, ESI Equity

Learning Objectives:

• Understand the main valuation approaches used for private companies (income, market, and asset-based) and determine when each is most appropriate

• Understand how valuation firms develop the underlying inputs—normalizing financials, selecting cash flow metrics, estimating growth, and setting discount/cap rates—to build and support an income-approach valuation

• Understand how valuation firms evaluate market-based evidence and common private-company adjustments, including selecting/adjusting comps and transactions and apply valuation multiples

11:10 AM - 12:10 PM

CAPITAL OPTIONS FOR ESOP COMPANIES

11:10 AM - 12:10 PM Location: Columbia C Level: Basic CULTURE & COMMUNICATIONS

Audience: Internal Trustee, CFOs, CEOs, Financial Managers, Board Members

Summary: We’ll begin with an update on the capital markets environment and outlook for the remainder of 2026, followed by an overview of capital types and structures that work for ESOPowned companies. Capital types will cover senior secured debt through equity capital structures.

Learning Objectives:

• Understand why ESOP companies take on outside capital

• Develop a perspective on the current health of the capital markets environment

• Identify different types of capital available

Speaker(s): Dan Kaczmarek, Managing Director, Chartwell Financial Advisory Inc.; Sean Kelleher, Managing Director, ESOP, First Financial Bank

MOCK BOARD MEETING - REMAINING INDEPENDENT

11:10 AM - 12:10 PM Location: Congressional A Level: Intermediate

Audience: CFOs, CEOs, Board Members

Summary: A continuation of the popular Mock Board series, this mock meeting will have the Board members discussing The Washington TEA Company’s ability to remain independent and employee-owned. The discussion will center around what circumstances should the Board consider selling and the considerations in an employee-owned company.

Learning Objectives:

• Recognize the importance of having an action plan for offers

• Balance the goal of remaining independently employeeowned and the reality of maximizing value

• Demonstrate the interactions and complications of considering a sale

Speaker(s): Brian Ippensen, CPA CMA, President, TI-Trust; Alex Moss, Founding Principal, Praxis Consulting Group, Inc.; David Diehl, CEO, Prairie Capital Advisors, Inc.

YEAR IN THE LIFE OF AN ESOP

11:10 AM - 12:10 PM Location: Capitol Room B Level: Basic

Audience: Internal Trustee, HR Staff, Employee Owners, Professionals

Summary: We’ll begin with a general overview of the work required to complete an administration cycle including planning, timing and estimate timelines for completion of administrative tasks. We will discuss the best possible way to navigate through the planning, data gathering, compliance testing, tax forms and distribution payments. This will be an in-depth look at the administration cycle to help plan sponsors understand what is important, why it is important and why your TPA might be asking particular questions. After this session, we hope that plan sponsors will have a better understanding of the administration cycle and we hope to arm them with the knowledge to make the entire process easier in the future.

Learning Objectives:

• Understand the basic steps of the annual administration cycle, including planning, gathering information, testing the plan, completing tax forms, and making distributions

• Learn why each step is important, so plan sponsors know what their TPA needs from them and why certain questions or documents are requested

• Discover simple ways to make the administration process smoother, including how to prepare early, stay organized, and work effectively with the TPA throughout the year

Speaker(s): Tracy Robinson, Senior ESOP Consultant, Principal; Susan Vining, SHRM-CP, CPSP, Benefits Leader, Hargrove and Associates, Inc.

11:10 AM - 12:10 PM

FROM VALUES TO VOICE: ELEVATING OWNERSHIP CULTURE THROUGH VALUES-DRIVEN MESSAGING

11:10 AM - 12:10 PM Location: Columbia B Level: Basic CHAPTER

Audience: Internal Trustee, HR Staff, CFOs, CEOs, Financial Managers, Board Members, Employee Owners, Professionals

Summary: When you own a home, you treat it differently, and the same can be said of your company. Getting all your employee owners to feel that sense of pride, however, doesn’t happen automatically. The key, regardless of your company’s size, is establishing a shared set of values. In this session, we’ll walk through how you can build a communication strategy to fit your specific company through the power of shared values.

Learning Objectives:

• Learn why shared values are essential to building trust, alignment, and a strong employee ownership culture

• Discover how integrating company values, voice, and tone strengthens the impact and consistency of your ESOP events and communications

• Identify and effectively use the tools, templates, and resources available to support and enhance your communication strategy

Speaker(s): Mike McGill, Project Management Lead, VGM Group, Inc.; Julie Heuton, VP, People, Talent & Culture, Two Rivers Marketing, A VGM Group Company

TRUST IS THE STRATEGY: BUILDING CREDIBILITY, RELIABILITY, ALIGNMENT

11:10 AM - 12:10 PM Location: Capitol Room A Level: Intermediate

Audience: HR Staff, CFOs, CEOs

Summary: In employee-owned companies, trust is often assumed, but during periods of change, it must be actively earned and reinforced. Leadership transitions, growth initiatives, market disruption, or operational shifts can quickly strain trust if communication is unclear, inconsistent, or misaligned with employee-owner expectations.

This panel-driven session explores how ESOP leaders can use communication as a strategic tool to preserve trust and retain engagement during times of change. Grounded in the Trust Equation framework, the discussion will examine how credibility, reliability, and alignment shape employee-owner confidence in leadership decisions. Panelists will share real-world examples of when trust was tested, what they communicated, and what they would do differently.

Attendees will leave with a practical lens for evaluating their own communication strategies, understanding how leadership intent is perceived across the organization, and identifying specific actions leaders can take to strengthen trust before, during, and after change.

Learning Objectives:

• Identify the core components of trust that influence how employee owners perceive leadership communication during periods of organizational change

• Evaluate how executive messaging, consistency, and visibility impact trust, engagement, and retention in employee-owned companies

• Apply practical strategies to align leadership communication with ESOP values in order to maintain credibility, reliability, and organizational cohesion during transitions

Speaker(s): Shelby R. Sledge, MBA, Managing Partner & Co-Founder, Sledge Works; Billy Duren, President and CEO, Threaded Fasteners, Inc.; Ben Holder, CEO, Plastic Products; Rachel Hockenberger, CEO, Parman Holdings Corporation

11:10 AM - 12:10 PM

NEW TO ESOPS? LET’S TALK

11:10 AM - 12:10 PM Location: Congressional C/D Level: All

Audience: Internal Trustee, HR Staff, CFOs, CEOs, Financial Managers, Board Members, Employee Owners

Summary: Join this discussion designed for individuals and companies just beginning to explore or implement an ESOP. Get your questions answered, connect with others in the same boat, and gain a foundational understanding of ESOPs.

Moderator(s): Barbara Clough, VP - ESOP Administration, Blue Ridge Associates

EMPLOYEE VALUE FROM PERFORMANCE TO PAYCHECK TO PAYOUT - ESOP WEALTH!

11:10 AM - 12:10 PM Location: Columbia A Level: Basic

Audience: HR Staff, CFOs, CEOs, Financial Managers, Employee Owners

Summary: Join our interactive workshop-hybrid session as you initially hear from 3 value-driver experts who will coach you through the daily mindset of employee ownership. Listen first to how a valuation consultant scores employee behaviors. Hear how an executive business consultant builds ownership teams, aligning disciplines that create high value for the ESOP culture. Learn from a wealth manager on how your ESOP value compounds annually and creates long-term wealth. Then, interact with your peers on how you create value within your respective role so you can bring back an enhanced ESOP value to your company, which will result in higher performance to corporate goals, to individual payouts, and to overall wealth-building. Your main takeaway will be how you can employ best practices to help increase returns on workforce development that will translate into an ESOP journey that builds a long-term career for the net asset value of today.

Learning Objectives:

• Understand the interwoven connections of an ESOP wealth building benefit plan driven by workplace behaviors that enhance bottom-line company results and impact individual long-term rewards

• Demonstrate proven best practices from ESOP peers who have created the enhanced ESOP value in their current workplaces, so one can take them back to their own ESOP

• Create an employee-owned daily mindset that becomes cultural or develops culturally into your role at your company

Speaker(s): Carlito Cabelin, Executive Director of Education, ESOP ONE; Andy Manchir, ASA, CEPA, CMA, Partner, Katz Sapper & Miller; Bill Duguay, Certified EOS Implementer, EOS Worldwide

EXCELLENCE IN EMPLOYEE OWNERSHIP AWARDS LUNCH

12:20 PM - 1:50 PM Location: Regency Ballroom NETWORKING EVENT

Summary: What an extraordinary year it has been, and now it’s our moment to unite and revel in our achievements! We have moved our Excellence in Employee Ownership Awards to lunchtime, to ensure as many people as possible can enjoy in this exciting moment. Join everyone in celebrating the nominees and winners alike, in the categories of the Employee Owner of the Year, ESOP Company of the Year, Chapter of the Year, Chapter Officer of the Year, and more! Prepare to be captivated by a few delightful surprises we have planned.

THURSDAY

2:00 PM - 3:00 PM

COMMUNICATIONS COMMITTEES ROUNDTABLE DISCUSSION

2:00 PM - 3:00 PM Location: Congressional C/D Level: All OPEN ROUNDTABLE DISCUSSIONS

Audience: Internal Trustee, HR Staff, CFOs, CEOs, Financial Managers, Board Members, Employee Owners

Summary: Are you a member of a communication committee or looking to start one? Join us to discuss communication committee best practices, structure, topic ideas, and more.

Moderator(s): Kristina Kallen, Senior Internal Communications Manager, Bob’s Red Mill Natural Foods, Inc.

DIVING DEEP INTO DIVERSIFICATION AND OTHER EARLY WITHDRAWALS

2:00 PM - 3:00 PM Location: Capitol Room B Level: Intermediate ADMINISTRATION

Audience: Internal Trustee, HR Staff, CFOs, Employee Owners, Professionals

Summary: We will provide an overview of the Section 401(a) (28) rules related to Diversification (55/10). We will also discuss other forms of early withdrawals including their interplay and impact on amounts eligible for diversification. We will discuss the typical questions that plan participants may ask as well as the pitfalls of “advice” with practical guidance on how to address these items. Presenters will provide numerical examples of statutory diversification calculations as well as the impact of other distribution options.

Learning Objectives:

• Obtain an understanding of the statutory diversification requirements under Code Section 401(a)(28)

• Understand other forms of early withdrawals and their impact on the amount distributable to plan participants

• Recognize the risk of fiduciary liability when guiding participants toward their decisions

Speaker(s): Barbara M. Clough, QPA, QKC, QKA, Vice President - ESOP Administration, Blue Ridge Associates; Becky Streff, Vice President of People Operations, Holden Industries

FIVE TRAITS OF AN EFFECTIVE EMPLOYEE OWNER

2:00 PM - 3:00 PM Location: Columbia B Level: Basic CHAPTER SHOWCASE

Audience: Internal Trustee, HR Staff, CFOs, CEOs, Financial Managers, Board Members, Employee Owners, Professionals

Summary: You have undoubtedly heard that ESOP participants should work with an owner’s mindset. But do you know what that means and how it shows up in our day-to-day work? In this session, attendees will participate in an interactive, engaging team activity to uncover five traits of an effective employee owner, which, in turn, help companies maximize the benefits of being an ESOP.

Learning Objectives:

• Identify and describe the five core traits of effective employee owners and understand how each trait contributes to an ownership mindset in day-to-day work

• Analyze real examples and evidence demonstrating how these traits drive stronger ESOP cultures and organizational success, enabling participants to connect the concepts to their own roles and teams

• Apply actionable strategies to strengthen these ownership traits, both personally and within their teams, leaving with practical ideas they can implement immediately to foster a stronger employee owner culture

Speaker(s): Dan Burnett, Director, Talent Development, QPS Employment Group

2:00 PM - 3:00 PM

HOW DOES THE ESOP TRUSTEE ELECT THE BOARD OF DIRECTORS?

2:00 PM - 3:00 PM Location: Congressional A Level: Intermediate BOARD OF DIRECTORS & TRUSTEE

Audience: Internal Trustee, HR Staff, CFOs, CEOs, Financial Managers, Board Members, Employee Owners, Professionals

Summary: How does the trustee elect the board of directors? This question comes up frequently and it is asked by new ESOPs all the way to the most mature. It is a process that is usually done once a year and it can be lost in the host of corporate governance issues and activities the company and the board must navigate. This session will be led by an ESOP trustee that coordinates about 30 shareholder elections each year, and will cover the key documents governing the process, the timing for the election, the regulatory issues to navigate, the board process to nominate the board slate, the trustee process and how the whole process should be documented. Real life examples and practical best practices will be sprinkled into the session.

Learning Objectives:

• Understand the key documents tied to the board elections, the regulatory and state requirements and the timing for the process

• Develop the process the board must undertake to identify board candidates and submit a slate of directors to the trustee for election

• Describe the process the trustee must undertake to review the slate of directors and then elect the board for the upcoming period, and then formally document the election

Speaker(s): Scot Storjohann, Senior Vice-President, GreatBanc Trust Company

INVESTING THE 1042 ROLLOVER

2:00 PM - 3:00 PM

Audience: CFOs, CEOs, Financial Managers, Employee Owners, Professionals

Summary: This panel will help attendees understand the significant requirements that a business owner must fulfill before being able to take advantage of the tax deferral options offered by IRC Section 1042. We will review how an owner of a privately held business can sell a part or all of his or her business to an ESOP and consequently defer the recognition of long-term capital gains taxes from the sale.

This session will include a high-level overview of what a 1042 rollover is and the opportunities that it provides to business owners who choose to elect it. This includes its qualifications, requirements, and common investment strategies, with deeper dives into the details of each section. We will conclude with the presentation and interactive analysis of several relevant case studies.

Learning Objectives:

• Understand the typical ESOP structure and what qualifications must be met in order to elect 1042, including: Percentage of ESOP ownership, stock type, holding period, reinvestment window and requirements, and tax filings

• Learn what Qualified Replacement Property entails: Eligible vs. non-eligible QRP, disposition of QRP, and what does and does not trigger capital gains tax

• Identify common diversification strategies such as: Passive strategy, Active/flexible strategy, Blended strategy, and the resulting portfolios and advantages and disadvantages of each strategy

Speaker(s): Nicholas Francia, CEPA, Managing Director, The Capital ESOP Group - UBS Financial Services Inc; Meredith Fiocchi, CEPA, Associate Vice President - Investments, Wells Fargo Advisors

2:00 PM - 3:00 PM

LEADERSHIP DEVELOPMENT THAT WORKS: USING LEADERSHIP DEVELOPMENT TO ADVANCE COMPANY STRATEGY

2:00 PM - 3:00 PM Location: Capitol Room A Level: Intermediate

Audience: Internal Trustee, HR Staff, CEOs, Board Members

Summary: Effective leadership drives the success for your company’s employee ownership culture. Developing people in your company to become leaders is a long-term journey, and can’t happen from a one-off training. It requires structure and focused attention. The good news is that leadership development can be integrated with your company’s overall strategy so that your leadership development efforts also advance key company priorities. Come learn about integrated leadership development strategies- from coaching, to training (virtual and in-person), to stretch assignments, to special strategy initiatives. Sanborn Head will share its leadership development approach and how it has used leadership development to advance and implement major company change, including ownership structure, organization design, and technology.

Learning Objectives:

• Understand key principles for effective leadership development

• Recognize the components of a successful leadership system

• Design and integrate company strategic initiatives into leadership development

Speaker(s): Linshuang Lu, MSOD, Managing Principal, Praxis Consulting Group; Luke Norton, PE, Vice President, Sanborn, Head & Associates, Inc.

SUPPORTING LEADERSHIP TRANSITIONS WITHIN YOUR ORGANIZATION

2:00 PM - 3:00 PM Location: Columbia A Level: Intermediate

Audience: Internal Trustee, HR Staff, CFOs, CEOs, Financial Managers, Board Members, Employee Owners

Summary: Employees are often promoted to positions of leadership based on their performance in their job, and not on their leadership ability. This interactive discussion will help you identify and support the growth of your leaders, assessing and enhancing the key skills, values and behaviors that make for an effective ESOP leader, in the context of the future of your ESOP.

Learning Objectives:

• Identify potential ESOP leadership skills

• Implement tools/education for ESOP leaders

• Hire and develop leaders that match the growth skillset needed for the future of your company

Speaker(s): Bill Frommelt, Principal, Strategic Talent Partners; Kathleen McInerney Kane, President, Praxis Consulting Group

3:10 PM - 4:10 PM

ESOP PLAN DESIGN

3:10 PM - 4:10 PM Location: Columbia C Level: Intermediate ADMINISTRATION

Audience: CFOs, CEOs, Board Members

Summary: This session will explore the various ESOP plan design alternatives available to plan sponsors. Presenters will explain how plan features can be amended over time to align with changing business objectives.

Learning Objectives:

• Explain the various ESOP plan design alternatives, emphasizing the flexibility of ESOP plan design in aligning with a company’s objectives

• Understand the basic legal parameters under ERISA for the plan’s operational provisions

• Convey cash flow implications of various ESOP plan design decisions

Speaker(s): Christel Jimenez, VP Consulting, Principal; Chuck Bachman, Senior Corporate Counsel, Menke & Associates, Inc.; Renee Stadtmueller, Managing Director, Blue Ridge Associates

IGNITING OWNERSHIP LEADERSHIP: DEVELOPING LEADERS WHO THINK, ACT, AND COMMUNICATE LIKE OWNERS

3:10 PM - 4:10 PM Location: Columbia A Level: Intermediate CULTURE & COMMUNICATIONS

Audience: HR Staff, CFOs, CEOs, Employee Owners

Summary: Employee ownership alone does not create an ownership culture — leadership does.

In ESOPs, leadership must go beyond traditional management. It requires modeling accountability, communicating with transparency, reinforcing long-term thinking, and turning ownership principles into everyday behaviors.

This interactive session equips leaders with practical tools to shift from passive management to ownership-driven leadership. Through real-world scenarios and hands-on exercises, participants will see how leadership behaviors either strengthen or stall ownership culture.

Attendees will leave with clear, actionable strategies they can implement immediately to build engagement, accountability, and alignment — helping employee owners think and act like true owners.

Whether your ESOP is new or mature, this session delivers a practical framework for developing leaders who unlock the full power of employee ownership.

Learning Objectives:

• Evaluate leadership behaviors within your organization and identify which habits reinforce dependency versus cultivate a strong ownership culture

• Demonstrate ownership-based communication techniques that increase accountability, initiative, and long-term thinking across teams

• Implement practical leadership tools and coaching strategies that help employee owners shift from “That’s Not My Job” thinking to an “I Own That” mindset

Speaker(s): Jason P. Wellman, Director of Client Advocacy, ESOP Partners; Stacie Roberts, Accountant, Sentry Equipment

THURSDAY

3:10 PM - 4:10 PM

BUILDING COMPANY CULTURE THROUGH LEARNING TECHNOLOGY

3:10 PM - 4:10 PM Location: Columbia B Level: Basic CHAPTER SHOWCASE

Audience: Internal Trustee, HR Staff, CFOs, CEOs, Financial Managers, Board Members, Employee Owners, Professionals

Summary: Explore how learning technologies like LMS platforms can strengthen company culture. This session covers aligning training with values, boosting engagement, and promoting ongoing growth to make learning a key part of both individual and business success.

Learning Objectives:

• Explain how learning technologies (e.g., LMS platforms) can reinforce and operationalize company values by aligning training content, communication, and recognition systems with organizational culture

• Identify strategies for using learning technology to increase employee engagement and embed learning into the daily employee experience

• Develop implementable ideas to leverage learning technology for continuous growth, connecting individual development goals with broader business outcomes and cultural priorities

Speaker(s): Shannon Hunt-Stokey, Team Director, Aquinas Leadership Group

CEO ROUNDTABLE

3:10 PM - 4:10 PM Location: Capitol Room A Level: All

Audience: CEOs

Summary: This roundtable session is designed for ESOP Presidents and CEOs. It will provide a platform for leaders to share their experiences, discuss common challenges, and explore innovative strategies to maximize the value of their ESOPs.

Learning Objectives:

• Share leadership experiences and best practices for managing and growing ESOP companies

• Discuss common challenges ESOP CEOs face and explore collaborative solutions

• Identify strategies to strengthen employee ownership and maximize long-term ESOP value

Moderator(s): Sheri Darby, President, Walker Mechanical Contractors, Inc.

COMMUNICATING THE ESOP TO A DIVERSE AUDIENCE

3:10 PM - 4:10 PM Location: Congressional C/D Level: All

Audience: Internal Trustee, HR Staff, CFOs, CEOs, Financial Managers, Board Members, Employee Owners, Professionals

Summary: Effectively communicating the value of an ESOP requires reaching employees with different backgrounds, roles, and levels of financial knowledge. In this roundtable session, participants will discuss strategies for tailoring ESOP messaging to diverse audiences, simplifying complex concepts, and ensuring all employees understand and appreciate the benefits of employee ownership. Attendees will share practical approaches to build stronger engagement and foster a more inclusive ownership culture.

Moderator(s): Cinnamon King, Safety Director, Walker Mechanical Contractors, Inc.

3:10 PM - 4:10 PM

WHEN THE GOVERNMENT COMES KNOCKING... PREPARING FOR IRS AUDITS AND DOL INVESTIGATIONS

3:10 PM - 4:10 PM Location: Capitol Room B Level: Intermediate ESOP FUNDAMENTALS

Audience: Internal Trustee, HR Staff, CFOs, CEOs, Financial Managers, Board Members, Employee Owners, Professionals

Summary: ESOPs are complicated and present issues that may attract the attention of our government regulators. This session will highlight areas of regulator focus and suggest best practices to help you prepare for when the IRS and/or DOL come knocking.

Learning Objectives:

• Understand IRS and DOL regulatory authority and investigative process

• Identify areas regulators are focusing on

• Recognize best practices for responding to investigations & audits

Speaker(s): Peter Jones, Partner, Tucker Ellis LLP; Michael T. Graham, Partner, Thompson Coburn LLP

WHO SHOULD BE ON YOUR BOARD OF DIRECTORS

3:10 PM - 4:10 PM Location: Congressional A Level: Intermediate BOARD OF DIRECTORS & TRUSTEE

Audience: Internal Trustee, CEOs, Board Members

Summary: Whether you are a brand new or established ESOP, you may be asking the question, “How do I determine who should be on our board?” This session will help you answer this question. It will start with explaining why you need a board and what are the roles and responsibilities of the board. This session will provide guidance on:

• What skills are needed

• How many members should there be and what is the mix of internal vs external members

• Recruiting board members

• Interview/selection process

• Negotiating terms, pay, benefits, etc

Learning Objectives:

• Gain an understanding of the roles and responsibilities of board members

• Be able to determine what the make-up (number and mix of internal/external) of the board and what skills are needed

• Gain an understanding of the recruiting, interviewing, and selecting process of selecting board members

Speaker(s): John Williams, President/Founder, Elucidate Resources; Mike Frommelt, Co-Founder, Strategic Talent Partners

THURSDAY

4:20 PM - 5:20 PM

ACE SQUADRON - PREPARE FOR ESOP TAKE OFF!!

4:20 PM - 5:20 PM Location: Columbia B Level: Basic CHAPTER SHOWCASE

Audience: Internal Trustee, HR Staff, CFOs, CEOs, Financial Managers, Board Members, Employee Owners, Professionals

Summary: What does a typical year of a high performing ESOP committee look like? We’ll cover the annual planning process, who should be an active committee member, the structure of your committee, how to stay organized, communication with your company, roles and responsibilities of a committee, ESOP month, company meetings, etc. Attendees should come away with ideas to implement with their company.

Learning Objectives:

• Implement strategies to increase engagement among employee-owners

• Recognize how to streamline ESOP committee planning processes

• Identify methods to reduce ESOP committee burnout

Speaker(s): Mike Shuey, Customer Support Lead, Avail Technologies, Inc

ESOP VALUATION IN UNCERTAIN TIMES

4:20 PM - 5:20 PM Location: Capitol Room B Level: Intermediate ESOP FUNDAMENTALS

Audience: Internal Trustee, CFOs, CEOs, Financial Managers, Board Members, Professionals

Summary: Learn how uncertain times may alter the valuation process and add additional steps.

Learning Objectives:

• Understand some of the recent major economic uncertainties

• Recognize how some of these uncertainties may impact ESOP valuation

• Anticipate some of the diligence questions necessitated by the economic uncertainties

Speaker(s): Rob Hilton, Managing Director, South Park Advisors, LLC; Serena Amlie, ESOP Client Advisor, Spinnaker Trust

MATURING ESOPS: BALANCING SUSTAINABILITY, GROWTH, AND GOVERNANCE

4:20 PM - 5:20 PM Location: Capitol Room A Level: Intermediate

Audience: CEOs, CFOs

Summary: As ESOPs mature, companies face the challenge of balancing long-term sustainability with the need for continued growth. This interactive session will explore strategies to manage repurchase obligations while investing in future success, all within a framework of sound governance. A panel of experts will provide insights into the roles and responsibilities of management, boards, and trustees in navigating these complexities. Whether you’re preparing for the next phase of your ESOP or refining your governance approach, this session will provide valuable takeaways for sustainable success.

Learning Objectives:

• Describe the types of issues that maturing ESOPs commonly encounter

• Recognize and discuss different strategies and tactics for addressing maturing ESOP challenges

• Understand the roles and responsibilities of the key stakeholders when considering and executing repurchase obligation strategies

Speaker(s): Tina Langlois, Managing Director, Chartwell Financial Advisory; Sean Power, Employee Stock Ownership Plans, CoChair, Polsinelli

4:20 PM - 5:20 PM

GUIDANCE FOR INTERNAL TRUSTEES & FIDUCIARIES - WHAT YOU NEED TO KNOW

4:20 PM - 5:20 PM Location: Congressional A Level: Basic BOARD OF DIRECTORS & TRUSTEE

Audience: Internal Trustee, CFOs, CEOs, Board Members, Employee Owners, Professionals

Summary: Learn all about the “need to know” items for internal ESOP trustees, including board member selection, the internal trustee’s role in the valuation process, fiduciary insurance and potential risks related to Department of Labor reviews and plaintiffs bar.

Learning Objectives:

• Know your roles and duties as an ESOP Plan

• Understand the Trustee Role in Plan Valuation

• Be able to “issue spot” potential plan issues such as conflicts of interest

Speaker(s): Avery M. Chenin, JD, General Counsel, SCJ Fiduciary Services; Jose Jara, JD, Counsel, Fox Rothschild

THE FUNDAMENTALS OF LEVERAGED ESOP ACCOUNTING

4:20 PM - 5:20 PM Location: Columbia C Level: Basic

Audience: CFOs, CEOs, Financial Managers, Professionals

Summary: Do you have an understanding of the fundamental accounting issues for a leveraged ESOP? This session will review how a leveraged ESOP impacts the company balance sheet and illustrate the journal entries needed to properly account for the initial transaction, along with the entries needed on an annual basis. The speakers will also discuss various ESOP loan structures, how to account for them, and the accounting for ESOP dividends/S distributions.

Learning Objectives:

• Demonstrate how the initial ESOP transaction impacts the financial statements

• Explore the journal entries needed for annual ESOP accounting

• Understand the impact of accounting for dividends and S distributions

Speaker(s): Cara Benningfield, CPA, Partner, Forvis Mazars; Michael Zermeno, CPA, Shareholder, Roorda, Piquet & Bessee, Inc.

UNLOCKING THE POWER OF AI FOR ESOP COMMUNICATIONS SUCCESS

4:20 PM - 5:20 PM Location: Congressional C/D Level: Intermediate

Audience: Internal Trustee, HR Staff, CFOs, CEOs, Employee Owners, Professionals

Summary: Explore how artificial intelligence can enhance communication within ESOP organizations. In this roundtable discussion, participants will share ideas and practical approaches for using AI tools to simplify complex ESOP concepts, improve employee engagement, and strengthen ownership culture. Attendees will exchange experiences, challenges, and opportunities for leveraging AI to make ESOP communications more effective and impactful.

Moderator(s): Jay Collins, COO, Freedom Industries; Roger Cawdette, CEO, Village Labs

4:20 PM - 5:20 PM

WHAT’S NEW UNDER ERISA AND THE CODE: LEGAL UPDATE

4:20 PM - 5:20 PM Location: Columbia A Level: Intermediate ESOP FUNDAMENTALS

Audience: CFOs, CEOs, Board Members, Professionals

Summary: This session will cover key current legislative, regulatory, and case law developments relevant to ESOPs and many who work with them. Learn about plan amendments due this year and optional updates available for ESOPs. DOL developments will be an uplifting component of the discussion. The panel also will report on the latest status of Public Policy Council initiatives and federal legislative and regulatory agendas involving ESOPs.

Learning Objectives:

• Identify ESOP plan changes that are required or optional during 2026

• Understand how changes in DOL leadership affect the ESOP community

• Describe current legislative and regulatory initiatives designed to support ESOP companies

Speaker(s): Kathleen Scheidt, Partner, Ice Miller LLP; Alan H. Kandel, Partner, Husch Blackwell LLP

EVENING RECEPTION

5:20 PM - 6:30 PM

Location: District A, District B, Ballroom Lobby NETWORKING EVENT

Summary: After a day of sessions and educational learning, join us for a drink and some light appetizers at the reception, before heading out for your evening! This will be right in the foyer and sponsor room outside of the General Session spaceon the Ballroom Level.

NEW Categories and Submission Process!

The Annual Awards for Communications Excellence (AACE) Competition identifies member companies that excel at communicating about ESOPs with employee owners and engaging with the communities they serve.

Open Date: March 1, 2026 | Close Date: June 30, 2026

The new categories are:

• New ESOP Transition Award

• Best Overall ESOP Education Award

• Best Overall Employee Ownership Month (EOM) Celebration Award

• Best Stock Price Reveal Award

• Best Community Engagement Award

• Total ESOP Culture and Communications Award

AACE Award information: esopassociation.org/awards/the-aace-awards

Jen Edwards, Vice President, Member Services jedwards@esopassociation.org 202-293-2971

ESOP REWARDS

By The ESOP Association

The program will accept all submissions electronically. Each award will recognize a winner and a runner-up in two categories: Small ESOP member companies (under 250 employee owners) and large ESOP member companies (250 or more employee owners). SAVE BIG with an all-new benefit, exclusively for TEA members!

Available to ESOPs, employee owners and professional members, ESOP REWARDS has discounts on everything from hotels, flights and rental cars, to appliances, shipping, concert tickets, and much more!

More Value For Your TEA Membership!

The ESOP Association is thrilled to announce the newest addition to our comprehensive membership benefits, ESOP Rewards! This new benefit provides ESOP companies, employee owners, and professionals with discounts on everything from travel to home improvement projects, concerts, theme parks, movie theaters, translation services, computers and tech, uniform purchases, and more!

Scan the QR code to create your profile on the ESOP Rewards site and start saving today!

NOTES

Program Sponsor

NOTES

Program Sponsor

MAY 8, 2026

FRIDAY

REGISTRATION OPEN

7:30 AM - 12:00 PM Location: Ballroom Lobby

NETWORKING BREAKFAST

7:30 AM - 9:00 AM Location: Regency Ballroom

Summary: Grab your morning coffee and breakfast with your fellow employee owners! Head to the Regency Ballroom for breakfast and take some time to network and get ready for the last day of the conference.

ADVISORY COMMITTEE MEETINGS

8:00 AM - 9:00 AM

Summary: Grab a seat and join your advisory committee meeting (or one you are looking to sit in on) to start the day on Friday morning.

Administration: Congressional B

Valuation: Regency Ballroom D

Ownership Culture: District A

Legislative & Regulatory Issues: Congressional A

Fiduciary Issues: Lexington

Finance Issues: Columbia C

A Podcast By The ESOP Association!

The Ownership Effect is your front-row seat to one of the most powerful — and overlooked — tools for creating better companies and more broad-based wealth in America: Employee Ownership.

If you’re a business owner, an employee who wants more than a paycheck from your job, or someone who believes in an economy that works for everyone, this podcast is for you!

Listen to The Ownership Effect on The ESOP Association’s website, YouTube page, or subscribe on your favorite podcast platform.

CFO ROUNDTABLE

9:10 AM - 10:10 AM Location: Congressional C/D Level: All

Audience: CFOs

Summary: Join this session for an Executive-level discussion of CFO issues in an ESOP. Learn from your peers on a variety of CFO responsibilities, and bring your issues and ideas to be shared.

Moderator(s): Charles Harris, CFO, Precision Electric Motor Sales

BEYOND TRAINING: EMBEDDING LEADERSHIP INTO YOUR CULTURE

9:10 AM - 10:10 AM Location: Capitol Room A Level: Intermediate C-SUITE

Audience: CEOs, CFOs

Summary: Effective leadership is one of the strongest drivers of a high-performance ownership culture, and in an employee-owned company, leadership cannot live only at the top. It must be developed, reinforced, and modeled at every level of the organization. Leadership growth is not created through a single training event. It is built over time through coaching, clear expectations, real-world practice, accountability, and cultural reinforcement.

In this session, participants will explore practical ways to move beyond one-time leadership training and create a leadership development system that becomes part of the culture. Attendees will learn how to connect training, coaching, performance management, peer learning, and on-the-job development opportunities into a more integrated approach. The session will provide actionable ideas to strengthen leadership behaviors across an employee-owned company and better align leadership development with longterm ownership culture goals.

Learning Objectives:

• Design an effective leadership development system

• Integrate leadership expectations into performance management systems

• Foster ongoing integration of leadership behaviors into company culture

Speaker(s): Jason P. Wellman, Director of Client Advocacy, ESOP Partners 9:10 AM - 10:10 AM

TELLING YOUR ESOP STORY THROUGH VIDEO

9:10 AM - 10:10 AM Location: Columbia B Level: Basic

Audience: Internal Trustee, HR Staff, CFOs, CEOs, Financial Managers, Board Members, Employee Owners, Professionals

Summary: One of the most powerful ESOP storytelling tools is video. Learn how to leverage this creative medium to engage your employee owners, recruit new team members, and woo clients/customers. Whether your marketing budget is big or little, you can tell your ESOP story in a memorable, engaging way through video.

Learning Objectives:

• Understand why video is a powerful tool for communicating the value and culture of employee ownership and engaging employee owners

• Identify practical, budget-conscious strategies for producing compelling ESOP-focused video content

• Develop at least one actionable video concept to effectively share their company’s ESOP story internally or externally

Speaker(s): Jen Petro, Director of Marketing & Strategic Communications, DKP

9:10 AM - 10:10 AM

UNDER THE MICROSCOPE - VALUATION ISSUES IN IRS AND DOL INVESTIGATIONS

9:10 AM - 10:10 AM Location: Columbia A Level: Basic ESOP FUNDAMENTALS

Audience: Internal Trustee, HR Staff, CFOs, CEOs, Financial Managers, Board Members, Employee Owners, Professionals

Summary: Is your ESOP value under a regulatory microscope? Are you curious about how and why DOL and IRS investigators explore and address ESOP valuations? This session will cover where valuation issues emerge during the typical audit lifecycle (including where DOL and IRS valuation interests overlap and diverge) as well as real-world examples of what to expect when an ESOP valuation is being probed on audit. In addition to providing attendees with a legal overview, we will offer practical tips from our experiences as an ESOP transactional attorney and ESOP litigator. An attendee will leave this presentation ready to prepare an effective audit record and weather any DOL or IRS investigation of ESOP value.

Learning Objectives:

• Identify IRS and DOL investigative authority as it relates to ESOP valuations

• Understand specific valuation-related inquiries that emerge on IRS and/or DOL audit

• Implement strategies for fielding valuation-related questions from the IRS and DOL

Speaker(s): Emily M. Rickard, Attorney, Morgan, Lewis & Bockius LLP; Michael T. Graham, Partner, Thompson Coburn LLP

ESOP DISTRIBUTION: FROM POLICY TO SUSTAINABILITY

9:10 AM - 10:10 AM Location: Capitol Room B Level: Intermediate

Audience: CFOs, CEOs, Financial Managers, Board Members, Professionals

Summary: ESOP distribution rules are complex, but thoughtful planning can transform them from a compliance obligation into a strategic advantage. This session will explain the regulatory framework governing ESOP distributions and highlight the areas where companies have flexibility in designing their policies. We will explore how distribution timing, form of payment, and diversification provisions directly influence a company’s long term repurchase obligation. In addition, attendees will learn how distribution policy choices can affect ESOP share value, cash flow demands, and sustainability of the plan. Session attendees will leave with practical tools to evaluate their current policies and make informed decisions.

Learning Objectives:

• Understand key ESOP distribution rules and timelines

• Identify how distribution policy impacts repurchase liability

• Apply best practices to align policy with company goals

Speaker(s): Jordan W. Bergkamp, JD, Partner, Husch Blackwell LLP; Tim Lang, Managing Director, Chartwell Financial Advisory, Inc.

10:30 AM - 11:30 AM

QUESTIONS I WISH I ASKED

10:30 AM - 11:30 AM Location: Congressional C/D Level: All OPEN ROUNDTABLE DISCUSSIONS

Audience: Internal Trustee, HR Staff, CFOs, CEOs, Financial Managers, Board Members, Employee Owners, Professionals

Summary: Join this roundtable as your last session to ask questions that may not have been answered during the conference or you would like more information about.

Speaker(s): Steve Earle, Vice President of Kitchen Operations, Mid South Building Supply, Inc.; Dan Marcue, Vice President for Chapters and Educational Programs, The ESOP Association

10:30 AM - 11:30 AM

DOL INVESTIGATIONS - LESSONS LEARNED

10:30 AM - 11:30 AM Location: Columbia A

Level: Intermediate ESOP FUNDAMENTALS

Audience: Internal Trustee, HR Staff, CFOs, CEOs, Board Members, Employee Owners, Professionals

Summary: A letter from the DOL notifying various parties to an ESOP transaction or ESOP fiduciaries of an audit or investigation can be frustrating.

This presentation will educate and prepare you in case that day comes. We will start by describing the process that the DOL takes when conducting investigations and the items most likely to trigger an investigation. We will explain what the company, board, or professionals should be mindful of to prepare for an investigation. We will discuss managing the scope of document requests, navigating tolling agreements, and understanding privilege issues. These strategies are particularly relevant given the discovery that the DOL sometimes may share information learned in an investigation with plaintiff firms. We will focus on the interview in terms of the questions asked and how to best answer them. And finally we will share what not to do through various lessons learned.

Learning Objectives:

• Know when a DOL investigation is triggered and how to be best prepared for it

• Know how best to handle document requests and the potential pitfalls in certain approaches

• Know the typical questions asked by the DOL and how best to handle them using real like questions and scenarios

Speaker(s): Chelsea R. Mikula, Partner, Tucker Ellis LLP; Greg Daugherty, Partner, Porter Wright Morris & Arthur LLP; Chelsea McCarthy, Partner, Holland & Knight

FLIPPING THE SCRIPT: A FRESH TAKE ON CONNECTING WITH YOUNGER EMPLOYEEOWNERS

10:30 AM - 11:30 AM Location: Columbia B Level: Basic

Audience: Internal Trustee, HR Staff, CFOs, CEOs, Financial Managers, Board Members, Employee Owners, Professionals

Summary: You’ve heard the narrative: “Young people don’t care about retirement.” “It’s hard to communicate with younger generations.” “They’re just not that engaged.” It’s time to change that perception. As Millennial/Gen Z employee-owners and ESOP Communications Committee members, we’re here to challenge these outdated assumptions and offer a fresh, honest perspective on engaging the next generation of employee owners. This session will debunk myths, highlight what actually resonates, and explore communication strategies and cultural shifts that make ownership real, relevant, and engaging. Attendees will learn: Why younger workers do care about ownership and how to speak their language; How to avoid generational stereotypes in internal communication; Ways to make ESOP education more effective, inclusive, and impactful across age groups; Peer-driven ideas for boosting participation, understanding, and enthusiasm.

Learning Objectives:

• Gain valuable insights into why younger employees DO care about ownership — and how to speak their language

• Receive practical tips for ditching stereotypes and creating communications that resonate across generations

• Gather fresh, peer-driven ideas to make ESOP education more inclusive, authentic, and energizing

Speaker(s): Nicole Karpowicz, Program Coordinator II, Collaborative Testing Services, Inc.; Cassandra Swart, Manager, Forensics Staff, Collaborative Testing Services, Inc.

10:30 AM - 11:30 AM

MANAGING REPURCHASE OBLIGATIONS FOR A MATURE ESOP

10:30 AM - 11:30 AM Location: Capitol Room B Level: Advanced ESOP FUNDAMENTALS

Audience: Internal Trustee, CFOs, CEOs, Board Members, Professionals

Summary: This interactive session will explore the challenges of managing repurchase obligations (RO) in mature ESOPs. Through a combination of technical presentation and facilitated case study exercises, participants will learn about the practical levers that drive RO, including distribution policy, repurchase strategy, and funding approach. Participants will leave with practical tools for developing a sustainable repurchase obligation management strategy.

Learning Objectives:

• Understand repurchase obligation forecasts and how to analyze RO study results

• Evaluate different share repurchase strategies including recycling, redeeming, and releveraging strategies

• Understand how distribution policies, funding methods, and plan design features can be optimized to manage repurchase obligations

Speaker(s): Joe Marx, CPA, Vice-President, ESOP Consulting, Principal; Clifford G. Canavera, CFP®, MBA, President, Canavera Financial Group, LLC; Tina Langlois, Managing Director, Chartwell Financial Advisory

ASSESS. ALIGN. ADVANCE. DRIVING EFFECTIVE SUCCESSION THROUGH LEADERSHIP ASSESSMENT

10:30 AM - 11:30 AM Location: Congressional A Level: Advanced

Audience: HR Staff, CEOs, Board Members, Employee Owners

Summary: In today’s dynamic business environment, leadership continuity is critical—especially for ESOPs, where long-term sustainability and employee confidence depend on strong leadership pipelines. The Assess. Align. Advance. session will present a strategic approach designed to ensure your organization identifies, develops, and positions the right leaders for the future.

Assess: The journey begins with a rigorous evaluation of leadership capabilities using validated tools and methodologies to measure competencies, behaviors, and potential to lead in an ESOP culture. This step provides objective insights into readiness and highlights development opportunities for key roles.

Align: Assessment data is only powerful when aligned with organizational goals. Learn to sketch out the ESOP values and organizational goals that should be considered when assessing future leaders. This alignment ensures succession planning supports not only business performance but also the unique ownership mindset that drives ESOP success.

Advance: With clarity and alignment, we’ll offer a development plan template and approach which will accelerate growth for high-potential leaders.

Learning Objectives:

• Recognize the value of leadership assessment in succession planning

• Implement a leadership assessment strategy

• Understand how to integrate leadership assessment data into succession planning strategy

Speaker(s): Eric Braitmayer, President and CEO, Imtra Corporation; Kathleen McInerney Kane, President, Praxis Consulting Group

NETWORKING LUNCH

11:40 AM - 12:50 PM

Location: Regency Ballroom NETWORKING EVENT

Summary: Enjoy a delicious lunch and continue to network and bond with your fellow attendees as we round out the National Conference 2026. Get that last cup of coffee ahead of the final two sessions!

OWN IT: HOW STRATEGIC COMMUNICATION FUELS ESOP CULTURE

12:50 PM - 1:50 PM

12:50 PM - 1:50 PM Location: Columbia B Level: Basic CHAPTER SHOWCASE

Audience: Internal Trustee, HR Staff, CFOs, CEOs, Financial Managers, Board Members, Employee Owners, Professionals

Summary: To create a culture where employee ownership is more than just a concept, organizations must start with a clear, fact-based understanding of their plan document and the key milestones that define the employee-owner journey. Explore how to tailor messages for internal and external audiences by identifying who you want to influence and the specific outcomes you’re trying to achieve. We’ll also highlight how consistent, disciplined communication over time builds trust, reinforces purpose, and lays the foundation for a resilient, highengagement ownership culture.

Learning Objectives:

• Identify how generational differences influence the way ESOP messages are received and apply that insight to tailor communication strategies

• Design targeted ESOP messaging that connects ownership to employee motivation, engagement, recruitment, and retention outcomes

• Implement practical, culture-driven actions that demonstrate ownership commitment and strengthen employee-owner engagement beyond the retirement benefit

Speaker(s): Joe Elbow, Senior Director of Leadership Development, Bridges Health; Madi Garst, Talent Acquisition & Development Lead, Bridges Health

REVIEWING THE ANNUAL VALUATION REPORT: AN INTERACTIVE WORKSHOP

12:50 PM - 1:50 PM

Audience: Internal Trustee, CFOs, CEOs, Financial Managers, Board Members

Summary: Internal trustees, CEOs, CFOs, and other employee owners will learn the skills needed to perform a thorough review of the annual valuation report. We’ll begin with a valuation 101 refresher, focusing on enterprise value vs. equity value and the importance of cash flow and risk in valuation. We will also discuss the key factors that should be reviewed annually for potential changes, as well as appropriate documentation within the valuation report, before concluding with an interactive exercise in which attendees will be able to put their newfound skills to the test.

Learning Objectives:

• Analyze selected cash flows and earnings bases used in the valuation

• Identify key risk factors and ensure they are appropriately accounted for in the valuation

• Effectively summarize key changes in value year-over-year

Speaker(s): Serena N. Amlie, CFA, ASA, Vice President, ESOP Client Advisor, Spinnaker Trust; Kaitlin Wilusz Long, ASA, CFA, Director, Value Management Inc.

FRIDAY

12:50 PM - 1:50 PM

OWNERS PREVENT TREND. BUYERS SCRAMBLE AT RENEWAL: A STRATEGIC APPROACH TO ESOP HEALTH INSURANCE

12:50 PM - 1:50 PM Location: Capitol Room A Level: All

Audience: CEOs, CFOs

Summary: Renewal surprises aren’t inevitable. ESOPs can avoid the annual sticker shock by managing their health plan like owners—proactively influencing cost trends through off-cycle strategy rather than reacting once the renewal arrives. This session explores how alternative funding approaches, pharmacy and vendor initiatives, and data-driven planning can create year-round financial stability and protect long-term enterprise value, helping ESOPs break out of the renewal-to-renewal cycle.

Learning Objectives:

• Identify the challenges ESOP companies face in traditional renewal cycles

• Evaluate alternative funding strategies through an ESOP lens of cash flow, governance, and enterprise value

• Apply ownership-aligned practices to improve cost control and long-term plan sustainability

Speaker(s): Bryce Austell, Vice President of Employee Benefits, Fred C. Church, Inc.; Danielle Rice, Regional Sales Manager, ProAct, Inc.

THE ESOP ADVANTAGE: MASTERING GROWTH THROUGH STRATEGIC ACQUISITIONS

12:50 PM - 1:50 PM Location: Congressional A Level: Intermediate

Audience: Internal Trustee, HR Staff, CFOs, CEOs, Financial Managers, Board Members, Employee Owners, Professionals

Summary: As 2026 unfolds, well-managed ESOPs are no longer just passive retirement vehicles; they are aggressive market acquirers. Learn how employee-owned firms leverage unique tax efficiencies and a superior “ownership culture” to outcompete traditional private equity and corporate buyers in the M&A arena.

Learning Objectives:

• Identifying when to use “bolt-on” acquisitions to expand geography versus diversifying services to reduce risk

• Learning the various structures an acquisition can take and the impacts of each structure

• Understanding the role of the board, management and the Trustee in ESOP M&A activities

Speaker(s): Erin Turley, JD, Partner, McDermott Will & Schulte; Miguel Paredes, ESOP Trustee, Prudent Fiduciary Services; Ian Holloman, Managing Director, HDH Advisors LLC

ESOP LEGAL UPDATE

12:50 PM - 1:50 PM Location: Columbia A Level: Intermediate ESOP FUNDAMENTALS

Audience: Internal Trustee, CFOs, CEOs, Financial Managers, Board Members, Employee Owners, Professionals

Summary: Understand litigation trends and their impact on ESOP plan sponsors, trustees, and service providers. This session will look at recent and anticipated regulatory initiatives at the DOL and IRS. It also will assess the current regulatory environment under the Trump Administration. Finally, we will evaluate important recent case decisions and their impact on fiduciary and prohibited transaction rules under ERISA’s statutory scheme.

Learning Objectives:

• Understand litigation trends and their impact on ESOP stakeholders

• Analyze regulatory initiatives at the DOL and IRS and the current regulatory environment under the Trump Administration

• Evaluate significant recent case decisions and their impact on ERISA’s fiduciary and prohibited transaction rules

Speaker(s): Lars C. Golumbic, Principal, Groom Law Group; Todd D. Wozniak, Partner, Holland & Knight LLP

2:00 PM - 3:00 PM

ADVANTAGES AND CHALLENGES OF ROTH ESOPS

2:00 PM - 3:00 PM Location: Capitol Room B Level: Advanced ADMINISTRATION

Audience: Internal Trustee, HR Staff, CFOs, CEOs, Financial Managers, Board Members, Professionals

Summary: Learn why participants in a mature or new ESOP may benefit from having a Roth Contribution election added to the plan. We will explain the background of Roth and how it works in an ESOP, and review the administrative complexities of Roth ESOP Accounts. To conclude, we will discuss ways to effectively communicate this complex concept to participants.

Learning Objectives:

• Understand the advantages and challenges of adding Roth Contributions to your ESOP

• Evaluate whether Roth Contributions are a good fit for your ESOP

• Be able to implement an effective Roth Contribution education plan

Speaker(s): Trevor Bare, FSA, EA, MAAA, Partner, Conrad Siegel; David Pardys, Shareholder, Polsinelli

CAUTIONARY AREAS TO REVIEW IN ESOP VALUATIONS

2:00 PM - 3:00 PM Location: Congressional A Level: Intermediate ESOP FUNDAMENTALS

Audience: Internal Trustee, CFOs, CEOs, Board Members, Professionals

Summary: A practical, risk-focused review of the most common and consequential cautionary areas encountered in ESOP valuations. Drawing on real-world experience and regulatory reminders, presenters will walk through key technical judgment areas—including valuation methods, earnings adjustments, forecasts, equity structure, and reporting considerations— that frequently drive scrutiny from trustees, regulators, and litigators. Attendees will gain a clearer understanding of how seemingly routine assumptions and adjustments can materially impact fair market value conclusions and fiduciary risk. Participants will gain actionable insights to more effectively evaluate valuation analyses, ask better questions of advisors, and identify red flags before they become problems. By the end of the session, attendees will leave with a stronger framework for reviewing ESOP valuations with confidence, consistency, and defensibility.

Learning Objectives:

• Be able to identify key cautionary areas in ESOP valuations that commonly increase fiduciary, regulatory, or litigation risk

• Evaluate valuation assumptions and financial adjustments to determine whether they are reasonable, consistent, and supportable

• Develop a structured approach for reviewing ESOP valuation reports to support informed trustee decisions and defensible conclusions

Speaker(s): Hillary L. Hughes, CFA, Managing Director, Prairie Capital Advisors; Eric Dollin, ASA, Director, GBQ Capital Advisors

FRIDAY

2:00 PM - 3:00 PM

UNDERSTANDING TEA’S NEW AACE AWARD GUIDELINES & SUBMISSION REQUIREMENTS

2:00 PM - 3:00 PM Location: Capitol Room A Level: All CULTURE & COMMUNICATIONS

Audience: HR Staff, CFOs, CEOs, Professionals

Summary: The ESOP Association reimagined our Annual Awards for Culture and Communication Excellence (AACE) for 2026 by modernizing categories and criteria, introducing new awards, refreshing existing ones, and moving to fully electronic submissions to emphasize the impact of communication messages. The program will continue to honor winners and runners-up among small and large ESOP member companies across the full spectrum of ESOP culture and communications. Information presented will help you prepare a strong submission before the contest ends June 30.

Learning Objectives:

• Discuss the newest AACE awards

• Note the similarities between previous AACE awards and new

• Understand the differences and requirements of the new submissions process

Speaker(s): Jen Edwards, VP, Member Services, The ESOP Association

MOCK DEBATE IN ESOP TRANSACTION LITIGATION

2:00 PM - 3:00 PM Location: Columbia A Level: Intermediate ESOP FUNDAMENTALS

Audience: Internal Trustee, HR Staff, CFOs, CEOs, Financial Managers, Board Members, Employee Owners, Professionals

Summary: Join our panelists as they play ‘plaintiff v. defendant’ in a mock debate. The panelists will present opposing viewpoints on key areas of dispute in ESOP litigation, including the roles of the trustee, valuation advisor, selling shareholders, board members, and ESOP committee members, and valuation issues. You’ll gain greater insight into positions that parties take in ESOP litigation.

Learning Objectives:

• Evaluate arguments made by plaintiffs and defendants in ESOP transaction litigation

• Understand key areas of dispute in ESOP transaction litigation

• Develop a greater understanding of ERISA and valuation principles as applied to ESOP transactions

Speaker(s): Rick Pearl, Partner, Faegre Drinker Biddle & Reath LLP; Ted Becker, Partner, McDermott Will & Schulte LLP

NOTES

Program Sponsor

THANK YOU TO OUR SPONSORS!

FRED C. CHURCH, INC.

STRATEGIC SPONSOR

Mobile App Sponsor

Founded in the heart of the industrial revolution in Lowell, Massachusetts in 1865 and one of the earliest adopters of the ESOP ownership model in the 1970’s, Fred C. Church has long been recognized as one of the most iconic, innovative, private insurance brokerage firms in the United States. The insurance and risk management professionals who work with clients in our ESOP Practice have all gained invaluable experience working in diverse industries including construction, engineering, manufacturing, distribution, and transportation. In 2022 as one of the newest members of Assured Partners our tradition of private ownership and innovation continues but now as one of the largest privately held insurance brokers in the U.S.

EMPIRE VALUATION CONSULTANTS

PLATINUM SPONSOR Table #1 Excellence in Employee Ownership Awards Lunch Sponsor

Empire Valuation Consultants has grown into one of the nation’s leading and most respected independent valuation consulting firms and we are now 100% Employee Owned! We are a national leader in ESOP advisory services, with a long and successful track record working with many of the country’s leading ESOP attorneys and trustees, providing them with accurate and defensible valuation conclusions that meet all applicable ERISA, IRS and Department of Labor regulations. Our ESOP advisory team assists clients as they create employee ownership transactions. We have worked to support either the buy-side or sell-side participants in negotiating a fair and equitable transaction.

FORVIS MAZARS

PLATINUM SPONSOR Table #3 Lanyard Sponsor

Forvis Mazars, LLP is an independent member of Forvis Mazars Global, a leading global professional services network. Ranked among the largest public accounting firms in the U.S., the firm’s 7,000 dedicated team members provide an Unmatched Client Experience® through the delivery of assurance, tax, and consulting services for clients in all 50 states and internationally through the global network. We recognize the integral role an ESOP plays in a company’s strategic and financial planning and the importance of addressing key ESOP considerations when shaping plans. Whether established or just starting, learn how we can support your ESOP needs here.

TI-TRUST

PLATINUM SPONSOR

Program Book Sponsor

Building on over 65 years of experience, TI-TRUST offers comprehensive fiduciary services for employee benefit plans, including ESOPs, 401(k)s, 403(b)s, and Non-Qualified plans, managing over $28 billion in assets for individuals and institutions nationwide.

TI-TRUST proudly maintains a reputation as a high-touch, client-focused fiduciary service provider. Our flexibility enables us to deliver service solutions whether we act as trustee, custodian, or consultant.

With a clear understanding of the industry’s rules and regulations, we can effectively handle complex fiduciary matters successfully. Our strong team provides diverse skills, attention to detail, and unmatched expertise that seamlessly integrate across all our services.

VILLAGE LABS

PLATINUM SPONSOR

Conference Bag Sponsor

Village Labs is a technology firm that builds AI systems for ESOPs and service providers. We work with ESOPs, advisory firms, and forward-thinking organizations to help them understand and strategically deploy Generative AI. Learn more at villagelabs.com.

GREATBANC TRUST COMPANY

GOLD SPONSOR

Water Bottle Sponsor

GreatBanc Trust Company is a full-service trust company and independent ERISA fiduciary specializing in Employee Stock Ownership Plans (ESOPs). Founded in 1989, GreatBanc is the longest-standing and largest ESOP fiduciary in the United States, employing the largest group of ESOP professionals in the industry. The firm provides comprehensive trustee services for new ESOP transactions and existing employee-owned companies of all sizes across every major business sector. Unlike other trustees, GreatBanc’s core focus is ESOPs, which account for more than 90% of the company’s business. This specialized expertise and experience is why 500+ companies rely on GreatBanc for their trustee needs.

FAEGRE DRINKER

SUPPORTER

MCDERMOTT, WILL & SCHULTE LLP

SUPPORTER

SCJ FIDUCIARY SERVICES

SUPPORTER

Sponsor tabletops are located on Ballroom Level - Ballroom Lobby

TEA National Conference Venue

Hyatt Regency

400 New Jersey Ave NW Washington, DC 20001

1-202-737-1234

Check-In: 3:00 PM

Check-Out: 12:00 PM

Advocacy Academy Venue

The International Employee Ownership Center

200 Massachusetts Ave, NW Floor 2 Washington, DC 20001

Registration Hours

Location: Ballroom Lobby

Wednesday, May 6

2:00 PM – 6:00 PM

Thursday, May 7

7:00 AM – 5:00 PM

Friday, May 8

7:30 AM – 12:00 PM

WASHINGTON, DC INFO

Dining: Please see the concierge at the Hyatt Regency for a list of nearby restaurants or for assistance with making dining reservations.

Metro: The Washington, DC Metro is an efficient and cost-effective way to travel through DC, Maryland and Virginia. The cost per ride ranges between $2.25 and $6.75 depending upon distance traveled. For more information about the Metro as well as schedules and maps, please visit www.wmata.com

Taxis & Uber/Lyft: Pick up for taxis and rideshare are located outside of the main entrance of the Hyatt Regency.

ATTENDEE INFO

Attire: The dress code is business casual to business professional. Meeting room temperatures will vary, so wear layered clothing to ensure your personal comfort. We also recommend attendees wear comfortable shoes. Some events may have specific dress attire, please refer to each event for more information.

Badge Policy and Ribbons: Your conference registration name badge is your admission to the educational sessions.

If you have lost your badge, please see a TEA staff member at the Registration desk. Ribbons will be available at the Registration desk.

As a safety precaution, please remove your badge when leaving the hotel.

AUTOMATED CEU TRACKING

When you arrive at the Registration Desk to pick up your registration badge, you will notice your name badge includes your name and a QR code specific to your registration. Before you enter any session room, you must do the following.

1. Scan your badge, which will acknowledge a successful scan and record your name,

2. Participate in the polling questions, and 3. Complete the session evaluation IMMEDIATELY after the session through the mobile app.

PLEASE REMEMBER THE ONLY WAY TO RECEIVE CEU CREDITS IS IF YOU SCAN YOUR BAR-CODED BADGE AT THE START OF EACH SESSION, PARTICIPATE IN THE POLLING QUESTIONS, AND COMPLETE THE INDIVIDUAL CONCURRENT SESSION EVALUATIONS. ACCESS THE EVALUATIONS BY CLICKING THE ‘SESSION EVALUATION’ BUTTON IN THE MOBILE APP.

GENERAL INFORMATION

CONFERENCE SURVEYS & EVALUATIONS

Session evaluations are available for each concurrent session.

Session Evaluation Surveys: Session evaluations are available within each ‘session room’ of the mobile app. If you wish to receive continuing education credits, the session evaluations must be completed for each session attended.

Post-Conference Evaluation: TEA will send an electronic evaluation to all attendees. Everyone who participates in this evaluation is eligible for a special prize drawing.

CONTINUING EDUCATION UNITS (CEUS) / CREDITS – EARN UP TO 10

This event qualifies for up to 10 educational credits: CPE, SHRM PDC, or a certificate of attendance, depending upon your participation of a minimum of 50 minutes in each session, the completion of the session evaluation for each session attended and participation in polling questions for each session.

Attendees: Attendees must do the following to earn credits for the sessions in which they have attended:

1. Scan name badge upon entering the session room

2. Participate in live polling questions via the mobile app

3. Complete the individual session evaluations via the mobile app

Please note there are differences from state to state and from organization to organization in continuing education requirements. Each licensing board has the final authority to approve courses, credits, CEUs, and other methods of earning credits. TEA strongly recommends that individuals regularly check with their specific licensing boards for continuing education requirements in their jurisdictions that affect earning the appropriate credit.

HEALTH & WELLNESS

The ESOP Association (TEA) will abide by all state, local and county requirements in place at the location of any ESOP Association event at the time of that event. Because health requirements often change rapidly, please be sure to check the website immediately before

the event, as the requirements may have changed from the time of your registration. TEA will not issue refunds to individuals who fail to comply with this policy.

Medical Emergencies: TEA hopes your visit to the National Conference will be free from illness or injury, but in case you or a family member needs medical attention during your time at the Conference, please contact the Front Desk from any house phone. Hotel Security Staff will respond immediately to your location. At the hotel, you should dial security from any house phone to seek help. For life threatening emergencies, such as chest pain, shortness of breath, or severe abdominal pain, call 911.

Before Leaving Home:

• Stay home if you feel sick.

• Adhere to government issued travel restrictions and guidance issued by the region you will be traveling to and the region you are traveling from.

• Evaluate your own health and that of people you are in close contact with; contact the meeting/event organizers if you have concerns.

CONFERENCE INFO

Meals: For attendees, included in your conference registration is the Welcome & Congressional Reception on Wednesday, May 6, Breakfast, Awards Lunch, and Evening Reception on Thursday, May 7; and Breakfast and Lunch on Friday, May 8.

Media Guidelines and Policy: Complimentary press credentials are issued only to qualified journalists (reporters, editors, freelance writers, bloggers, news photographers, producers, etc.) working for media outlets relevant to ESOPs. TEA reserves the right to deny requests for media attendance at any TEA event. All members of the press must register for the National Conference and comply with all TEA ground rules.

Meeting Room Overcrowding: Each meeting room allows maximum occupancy based on its setup. Please do not move chairs from their designated locations. TEA will make every effort to schedule popular sessions in rooms large enough to accommodate anticipated attendance. Since many events are extremely popular, it is wise to select alternative events as you plan your

conference schedule. TEA and the Hyatt Regency are REQUIRED to follow local fire regulations and may ask participants in rooms filled to capacity to choose another event.

No Smoking Policy: Smoking is only allowed outside the Hyatt Regency and all venues hosting TEA events.

Photographs: TEA and its agents, contractors, or representatives may take photographs at the event and use them for any purpose at TEA’s discretion.

Program and Session Cancellation: TEA reserves the right to cancel programs and/or sessions because of low registration. In the unlikely event of a cancellation, TEA will notify all registrants and issue a full refund, if applicable. Programs and sessions are subject to change, and TEA reserves the right to substitute a program, session, and/or speaker of equal caliber to fulfill the educational requirements.

Release/Waiver/Special Assistance: By submitting your registration, you acknowledge and agree you are undertaking to participate in the National Conference activities as your own voluntary and intentional act. You agree that you alone are responsible for determining whether you are physically capable of participating in any National Conference activity, and you understand that there is risk associated with your participation, which may include without limitation, injury or loss caused by your own negligence or the negligence of others. With knowledge and acceptance of the risks involved, you accept full responsibility for your own safety and well-being. In consideration of your participation in the National Conference activities, you hereby waive, release, hold harmless, and discharge TEA and its officers, directors, and employees from any and all loss or injury that may be suffered by you in connection with the National Conference activities to the fullest extent permitted by law.

Weather: The month of May brings morning temperatures in the low to mid 60s F and afternoon high temperatures will generally reach the mid 70s F. The evenings cool down to the low to mid 50s F. The DC region experiences minimal rainfall in the month of May but please be sure to check the weather in advance of

your arrival to ensure you are prepared should a spring shower pop up.

THE ESOP ASSOCIATION (TEA) EVENT CODE OF CONDUCT

Personal actions supporting the collective wellbeing: TEA Conferences are designed to increase interaction, engagement, collaboration, connectivity, and community, in a fun and safe learning environment. We value the participation of each member of the community and endeavor to deliver an enjoyable and fulfilling experience. Conference participants are expected to conduct themselves with integrity, courtesy and respect for others and maintain the highest level of professionalism at all conference programs and events, whether officially sponsored by TEA or not.

All attendees, speakers, organizers, volunteers, partners, vendors and staff at any TEA event are required to observe the following Code of Conduct. General Code of Conduct: TEA is dedicated to providing a harassment-free conference experience for everyone, regardless of gender, sexual orientation, disability, physical appearance, race, national origin, or religion. We do not tolerate harassment of conference participants, TEA staff, or employees of the venue in any form.

If a participant engages in harassing behavior, TEA retains the right to take any actions to ensure the event is a welcoming environment for all. This includes warning the offender or expulsion from the conference with no refund.

Reporting: If anyone makes you feel unsafe or unwelcome or if you observe someone else experiencing situational discomfort, please report it as soon as possible to one of TEA’s team members. If you cannot locate a Team member, please contact Kristie Mark, COO at KMark@esopassociation.org.

NOTES

Program Sponsor

A Partner You Can Trust

Hiring TI-TRUST has several advantages. Our fiduciary procedures have been developed over decades of serving the ESOP Community and ESOP companies and our procedures have carefully been crafted and honed to provide protection to ESOP plans.

Our depth of experience cannot be duplicated or created except by long tenured dedication to serving as an institutional trustee to ESOP companies.