ESOP Radio

The official ESOP podcast - where real stories of growth, succession, and long-term wealth building are told.

ESOP Radio is the official ESOP podcast where we discuss all things ESOPs and the fascinating entrepreneurs who embrace them. ESOP Radio delivers straight answers on Employee Stock Ownership Plans for business owners, executives, trustees, and advisors—without the hype.

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ESOP Radio podcast logo by Menke, representing employee ownership and fiduciary-focused ESOP education.

Start Here – ESOP Boot Camp

A structured, plain-English walkthrough of how ESOPs work — from candidacy and valuation to governance and ownership culture.

Latest Episodes

Catch the most recent episode of ESOP Radio below, or follow the show on your preferred podcast platform.

What ESOP Radio Covers

Employee Stock Ownership Plans can be powerful tools for liquidity, succession, and long-term continuity—but they require discipline, structure, and an understanding of fiduciary responsibility.

On ESOP Radio, we focus on:

    • Real-world ESOP transactions and owner decision-making

    • Succession planning and long-term ownership strategy

    • Fiduciary duties, governance, and regulatory considerations

    • Valuation, financing, and transaction structure

    • Culture, communication, and sustaining employee ownership over time

This is not a sales podcast. The goal is education, clarity, and informed decision-making.

All Episodes

Abstract image of a converging path symbolizing a 2026 ESOP market midyear review

2026 ESOP Market Trends: A Midyear Check-In

Halfway through 2026, the ESOP market looks different than it did in January — bank lending is more competitive, private equity firms are eyeing ESOPs as an exit, and legislation is moving. Here’s what’s actually changed.

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Abstract layered light structure representing flexible, tiered ESOP financing arrangements

How ESOP Financing Is Changing in 2026

ESOP financing has been one of the biggest obstacles for business owners considering employee ownership. In 2026, that’s starting to shift, from how banks structure loans to how Washington is treating ESOP oversight.

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About the Hosts

ESOP Radio is hosted by Trevor Gilmore, CEO of Menke, and Ben Spadt, ESOP Investment Banking Consultant at Menke.

Together, they bring decades of experience advising business owners through ESOP feasibility, transaction execution, and long-term ownership planning. The conversations on ESOP Radio reflect the same disciplined, fiduciary-focused approach used in their advisory work.

Follow ESOP Radio

New episodes are released regularly. Follow ESOP Radio on your preferred platform to be notified when new conversations are available.

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Have a Question ESOP Radio Should Cover?

If there’s an ESOP-related topic you’d like addressed on the podcast—whether it’s valuation, fiduciary process, governance, or succession planning—we welcome your suggestions. Email us at [email protected]

Disclaimer

ESOP Radio is provided for educational purposes only and does not constitute legal, tax, investment, or fiduciary advice. Information discussed on the podcast is general in nature and may not apply to your specific circumstances. Listeners should consult their own professional advisors before making decisions related to employee ownership or succession planning.

READY FOR AN ESOP NOW?

Interested in finding out how an ESOP could work for your company?

For a free preliminary analysis, just fill out our ESOP Feasibility Questionnaire.

FREE ANALYSIS

Learn why an ESOP is better for You,
your Business, and your Employees

Sailing at sunset on calm ocean waters.

Upcoming Web Seminar

The ESOP Exit Strategy

Free 90-Minute Webinar for Business Owners, CFOs & Advisors

Learn how ESOPs fuel growth, reduce taxes, and power succession—without giving up control.

Why 2026 is the Time for ESOPs

Strong companies are using ESOPs to play offense. With rates stabilizing and talent still tight, employee ownership is delivering a durable edge:

    • Founder Liquidity—On Your Terms. Create a market for your shares without selling to private equity or competitors.
    • Major Tax Efficiency. Enable capital‑gains deferral for selling shareholders (Section 1042 eligibility) and reduce or even eliminate ongoing corporate income tax for S‑Corporation ESOPs—freeing cash for growth.
    • Talent Magnet. Meaningful employee ownership boosts engagement, retention, and performance—without relying solely on wage increases.
    • Resilient Margins. ESOP tax advantages help counter wage pressure, input costs, and tariffs—so more operating cash flows to strategy.
    • Control & Culture Intact. Transition ownership while keeping leadership and values in place.. Transition ownership while keeping leadership and values in place.

Bottom line: ESOPs create a rare win‑win‑win—for owners, the business, and employees.

What You’ll Learn

ESOP 101—Modern Playbook
How ESOPs work in 2026, who qualifies, deal structures, and timelines.

Tax Strategies that Change the Math
Capital‑gains deferral, corporate tax reduction/elimination for S‑Corp ESOPs, deductible contributions, and cash‑flow modeling.

Talent & Culture
Retention without across‑the‑board raises; ownership communications that actually move the needle.

Protecting Margins
How ESOP incentives can offset cost inflation and support reinvestment.

Valuation & Financing in Today’s Market
Bank/seller notes, mezzanine options, rate considerations, and why “bankable ESOPs” are closing now.

Governance & Control
Board, trustee, and management roles—what really changes (and what doesn’t).

Who Should Attend

    • Business Owners planning an exit, partial sale, or recapitalization

    • CFOs evaluating capital structure and tax strategy

    • Advisors & Succession Planners guiding owner‑led companies

    • HR & ESOP Committee Members building engagement around ownership

Agenda (90 Minutes)

    1. Welcome, Speakers & Why ESOPs in 2026 (5 min)
      Quick orientation; who Menke is and why ESOPs are winning right now.
    2. ESOP Basics & Business Owner Benefits (10 min)
      What an ESOP is; liquidity, diversification, succession, productivity.
    3. Myth‑Busting: What ESOPs Do—and Don’t—Require (5 min)
      No, you don’t have to sell 30%+, borrow big, or give up control.
    4. Deal Structures & Transaction Paths (10 min)
      Cash‑contribution (pay‑as‑you‑go), leveraged (bank/seller notes), and stock contribution; when each fits.
    5. Typical Scenarios & Outcomes (10 min)
      Gradual sales, minority/majority sales, 100% buyouts, and recap strategies.
    6. Who’s a Strong Fit (and Common Constraints) (5 min)
      Profitability, team/transition readiness, industry notes.
    7. Tax Strategy Deep Dive (10 min)
      S‑Corp ESOP distribution savings; C‑Corp §1042 capital‑gains deferral; entity‑path options.
    8. Valuation & Pricing vs. Third‑Party Sales (8 min)
      FMV standards, control vs. minority value, practical comparisons.
    9. Financing the ESOP (8 min)
      Bank market overview, seller paper, balance‑sheet effects, cash‑flow modeling.
    10. Plan Operations & Employee Communications (8 min)
      Eligibility, vesting, distributions, disclosures, and how transparency drives results.
    11. Culture, Engagement & Measured Performance Uplift (6 min)
      What changes on day 2; tying ownership to productivity.
    12. Roadmap & Next Steps (3 min)
      Feasibility, design/adopt, contributions, and timing the sale.
    13. Live Q&A (2 min)

Hear From Past Attendees

“I came in skeptical. I left with a concrete roadmap and the math to brief our board.”

— Mark T., CFO, Manufacturing

“This clarified our exit plan and showed how we can reward employees at the same time."

— Susan D., Founder & CEO, B2B Services Firm

Your Presenter: Phil DeDominicis

Phil DeDominicis is an ESOP strategist and M&A advisor who has guided 300+ companies through ESOP formations, financing, and transactions over 20+ years at Menke & Associates. He specializes in selling ESOP‑owned businesses to financial or strategic buyers and in helping ESOP companies acquire other businesses.

Before Menke, Phil spent 14 years in investment banking M&A at Morgan Stanley and Salomon Smith Barney, advising middle‑market companies on change‑of‑control transactions. He holds a B.S. in Chemical Engineering from the University of Delaware (1985) and an MBA in Finance & Accounting from UCLA Anderson (1989). Phil currently serves on six for‑profit and not‑for‑profit boards.

What Phil will cover:

    • Where ESOPs win in 2026 (tax, talent, and control)
    • Owner liquidity paths: minority, majority, and 100% sales
    • Financing options and what lenders look for
    • Valuation reality vs. third‑party sales
    • How to prep a board, trustee, and employees for a successful close

Reserve Your Spot Now

Seats are limited. Save yours now and receive the ESOP Feasibility Checklist.

    Tuesday, January 20th, 2026

10:00AM – 11:30AM PT
11:00AM – 12:30PM MT
12:00PM – 1:30PM CT
1:00PM – 2:30PM ET

RESERVE MY SPOT

No cost. Suitable for companies with $5M–$500M+ in revenue across construction, manufacturing, services, distribution, tech, and more.

FAQ (Quick Hits)

    • Do I lose control? No—most ESOPs preserve day‑to‑day control with your leadership team and board.

    • Is this only for certain industries? ESOPs work across sectors when cash flow is stable and leadership continuity matters.

    • Can we do a partial sale? Yes—stage liquidity over time while capturing tax benefits.