Overview
Myriem Bennani and Allison Wilkerson are speaking at the American Bar Association (ABA) 2026 Midyear Tax Meeting in San Diego, CA, during the following session:
ESOPs Update
Friday January 16, 2026
2:15 pm (PT)
The past few years have been a whirlwind for M&A activity, and established ESOP companies are looking for ways to remain ESOP owned (not seeking third party exits) but also to find creative ways to keep growing and boosting value. In 2025, that sometimes meant using company stock as deal currency. Even more intriguing, ESOP-owned companies began acquiring other ESOP-owned companies in transactions that preserved employee ownership, leveraged stock instead of cash, and maintained strong ESOP participation in the combined entity. This session dives into these deal structures, exploring how ESOP rules intersect with corporate and state law to shape roles and responsibilities. We’ll also review recent Senate legislation that could impact ESOPs and ESOP-owned businesses. And if time allows, the panel will tackle the ongoing trend of stock conversion and segregation in light of Davis v. United Bank and whether it changes the calculus for adding these features to a plan.