The Power of Why: Building an Ownership Philosophy to Guide ESOP Decisions.

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ESOP boards and leadership teams make tactical decisions constantly: how to set distribution policy, whether to redeem, recycle, or releverage repurchased shares, what contribution level is right, how much diversification to offer, and how to weigh growth investment against ESOP funding and current pay.

Leadership and board turnover makes this harder because new decision makers often don't understand the "why" behind the program and may treat the ESOP as a cost to minimize. The result can be knee-jerk decisions that work against the company’s own goals of motivating and retaining employees and providing a broad-based retirement benefit.

An ownership philosophy gives leaders a durable set of guiding principles to pressure-test those decisions, to onboard new leaders, and to document the reasoning behind board decisions from a legal and fiduciary standpoint. In this three-hour, hands-on workshop, two seasoned ESOP consultants join Megan Glidden, CFO of Web Industries, a mature ESOP-owned company. Megan will share how Web developed its philosophy and how it used the philosophy, together with sustainability studies, to add a new synthetic equity program, adopt a releveraging strategy, and design an approach to terminated participant account conversion. Using their own company’s data, attendees will then work through a guided process to draft the foundation of their own philosophy and will leave with a working draft they can take back to their board and leadership team.


WHO SHOULD ATTEND
This session is designed for ESOP board members, CEOs, CFOs, and leadership teams who make or influence decisions about ESOP funding, distributions, and repurchase strategy.

 

WHAT TO BRING TO GET THE MOST OUT OF THIS SESSION

  • Your ESOP plan document or SPD and distribution policy.

  • An understanding of how your ESOP is funded (contributions, dividends, etc.) and whether repurchase shares are redeemed, recycled or releveraged.

  • A recent census and account balance file which includes date of plan entry and active vs. terminated status

  • Your most recent repurchase obligation or sustainability study, if you have one.

  • Any existing mission, vision, values, or ownership-culture statements your company has already written.

  • A recent or upcoming ESOP decision your board or leadership team has found difficult, to test your draft against.

  • A colleague from your board or leadership team, if possible, so you can draft and pressure-test together.

Learning objectives

  1. Describe how a mature ESOP company created its ownership philosophy and used it, alongside a sustainability study, to make difficult decisions.
  2. Assess your company's current ESOP program against the key areas an ownership philosophy should address.
  3. Draft an initial ownership philosophy statement and guiding principles that reflect your company's culture and priorities, and pressure-test them against a sample decision scenario.

Session info

Date & time: April 12, 2027 | 1:30 PM - 4:30 PM

Presenter: Ashleigh Newlin & Lucas Pelner, Chartwell; Megan Glidden, Web Industries

Sponsor: Chartwell

Presenters

Headshot for Ashleigh Newlin

Ashleigh Newlin

Ashleigh consults with ESOP companies, focusing on executive compensation and ESOP repurchase obligations and sustainability analysis.  She brings significant experience in financial modeling and developing commercially available software for repurchase obligation analysis.  Ashleigh is a member of The ESOP Association,s Administration Advisory Committee. She holds a Bachelor of Science degree, with high honors, in operations research and financial engineering from Princeton University.
Headshot for Lucas Pelner

Lucas Pelner

Lucas is a member of Chartwell's consulting practice and is experienced in advising companies on a wide range of topics, including strategic alternatives, employee stock ownership plans, ESOP transactions, executive compensation, and strategies for long-term sustainability. He works with business owners, management teams, and boards of directors at ESOP companies to provide a holistic perspective of a company's financial position and future capital claims. Lucas holds a Bachelor of Science degree, with distinction, in finance with a minor in accounting from the University of Minnesota Carlson School of Management.

Headshot for Megan Glidden

Megan Glidden

As Chief Financial Officer of Web Industries Inc., Megan Glidden leads the financial strategy for a 100% employee-owned company with a 50+ year history. With a career forged in foundational roles at firms like RSM and Bemis Associates Inc., Megan has built comprehensive expertise in accounting, treasury, and financial planning & analysis. Her experience culminates in her current role, where she helps guide a company of 550 employee-owners who deliver precision-converting manufacturing solutions globally. Megan is an alumnus of Bentley University, where she earned both her undergraduate and master's degrees in accounting and finance.

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