<?xml version='1.0' encoding='UTF-8'?><urlset xmlns="http://www.sitemaps.org/schemas/sitemap/0.9" xmlns:video="http://www.google.com/schemas/sitemap-video/1.1" xmlns:image="http://www.google.com/schemas/sitemap-image/1.1"><url><loc>https://www.nceo.org/publications/esop-communication-committee-guide</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/what-is-employee-ownership/who-should-own-your-business-after-you-selling-business-to-employees</loc><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/uploaded-assets/preview-images/WhoShouldOwn_forEventsPage.png</image:loc><image:caption>WhoShouldOwnforEventsPage</image:caption><image:title>WhoShouldOwnforEventsPage</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/inline-images/EOT%20Advisors%20Blue%20Square%20New%20(1).png</image:loc><image:caption>EOTAdvisorsBlueSquareNew1</image:caption><image:title>EOTAdvisorsBlueSquareNew1</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/inline-images/Grossman-Yanak-and-Ford-LLP.png</image:loc><image:caption>GrossmanYanakandFordLLP</image:caption><image:title>GrossmanYanakandFordLLP</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/large/public/org-logos/Butcher_Joseph_1008x159.png</image:loc><image:caption>ButcherJoseph1008x159</image:caption><image:title>ButcherJoseph1008x159</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/inline-images/Pre-Feasibility%20Toolkit_logo%20resized%20smaller.jpg</image:loc><image:caption>PreFeasibilityToolkitlogoresizedsmaller</image:caption><image:title>PreFeasibilityToolkitlogoresizedsmaller</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/inline-images/BEI%20square%20Logo.png</image:loc><image:caption>BEIsquareLogo</image:caption><image:title>BEIsquareLogo</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/uploaded-assets/hero-bg-images/MCC-SoCal-2011_E5J1605-COLOR-lgo.jpg</image:loc><image:caption>MCCSoCal2011E5J1605COLORlgo</image:caption><image:title>MCCSoCal2011E5J1605COLORlgo</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/inline-images/SES%20ESOP%20Stragies_2021%20Logo.png</image:loc><image:caption>SESESOPStragies2021Logo</image:caption><image:title>SESESOPStragies2021Logo</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/inline-images/PDA.png</image:loc><image:caption>PDA</image:caption><image:title>PDA</image:title></image:image><lastmod>2026-06-17</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/when-a-company-with-an-esop-is-bought-by-another-company</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/how-do-esop-allocations-interact-with-limits-for-other-benefit-plans</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/member-peer-networking-opportunities/esop-finance-working-group</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Readytalk%203.jpg</image:loc><image:caption>Readytalk3</image:caption><image:title>Readytalk3</image:title></image:image><lastmod>2025-12-16</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/why-would-a-company-choose-to-stay-subchapter-s-rather-than-c</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-the-esop-be-made-the-beneficiary-of-a-life-insurance</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-are-the-esop-administrative-committees-legal-constraints-in-deciding-how</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/articles/stock-options-alternative-minimum-tax-amt</loc><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/hero/public/uploaded-assets/hero-bg-images/pexels-fauxels-3183150.jpg</image:loc><image:caption>pexelsfauxels3183150</image:caption><image:title>pexelsfauxels3183150</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2024-12-17</lastmod></url><url><loc>https://www.nceo.org/faq</loc><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Blog_Banner.jpg</image:loc><image:caption>BlogBanner</image:caption><image:title>BlogBanner</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2025-06-11</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/esop-debt-how-employees-are-protected</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/what-is-employee-ownership/eo-for-professional-advisors</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Events/NCEO_cropped-min.jpg</image:loc><image:caption>NCEOcroppedmin</image:caption><image:title>NCEOcroppedmin</image:title></image:image><lastmod>2025-06-12</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/is-it-practical-for-owners-to-use-sales-of-stock-to</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/publications/innovative-esop-transaction-structures-digital</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/are-distributions-paid-on-esop-shares-in-s-corporations-be-considered</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/publications/dol-fiduciary-process-agreements-esop-transactions</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/about</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Hero%20Images/AC24%20General%20Session.jpg</image:loc><image:caption>AC24GeneralSession</image:caption><image:title>AC24GeneralSession</image:title></image:image><lastmod>2025-06-11</lastmod></url><url><loc>https://www.nceo.org/member/document-library/what-is-a-board-and-what-does-it-do</loc><lastmod>2026-05-11</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/who-must-be-included-in-the-esop</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/training/courses/responding-acquisition-offers-esop-companies-digital</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/member/document-library</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2026-05-11</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/who-controls-an-esop</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/the-download-march-2026-spanish</loc><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Blog_Banner.jpg</image:loc><image:caption>BlogBanner</image:caption><image:title>BlogBanner</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/March%202026%20Download%20Screenshot_Spanish.png</image:loc><image:caption>March2026DownloadScreenshotSpanish</image:caption><image:title>March2026DownloadScreenshotSpanish</image:title></image:image><lastmod>2026-04-02</lastmod></url><url><loc>https://www.nceo.org/articles/ten-key-practices-great-esops</loc><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/hero/public/uploaded-assets/hero-bg-images/pexels-fauxels-3183150.jpg</image:loc><image:caption>pexelsfauxels3183150</image:caption><image:title>pexelsfauxels3183150</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2024-12-18</lastmod></url><url><loc>https://www.nceo.org/articles/phantom-stock-appreciation-rights-sars</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/hero/public/uploaded-assets/hero-bg-images/pexels-fauxels-3183150.jpg</image:loc><image:caption>pexelsfauxels3183150</image:caption><image:title>pexelsfauxels3183150</image:title></image:image><lastmod>2024-12-16</lastmod></url><url><loc>https://www.nceo.org/training/courses/esop-communications-sourcebook-digital</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/who-can-lend-to-an-esop</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/research/data/sustainable-esops-digital</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-you-amend-an-esop-to-become-a-ksop-and-include-roth-deferral</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/training/courses/esops-corporate-governance-digital</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/articles/choosing-employee-ownership-consultants</loc><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Blog_Banner.jpg</image:loc><image:caption>BlogBanner</image:caption><image:title>BlogBanner</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2025-06-30</lastmod></url><url><loc>https://www.nceo.org/publications/esop-database-division-4</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/when-are-taxes-due-on-the-sale-of-qualified-replacement-property-esop</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-an-esop-participant-choose-not-to-take-a-distribution</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/research/data/esop-database-division-3</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/training/courses/creating-sustainable-esop-distribution-policy-digital</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-does-the-esop-administrative-committee-typically-do</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/research/data/online-esop-training</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/nceox-initiative</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/2013_OGC_Tomato_Wars_0742.jpg</image:loc><image:caption>2013OGCTomatoWars0742</image:caption><image:title>2013OGCTomatoWars0742</image:title></image:image><lastmod>2025-06-12</lastmod></url><url><loc>https://www.nceo.org/member/document-library/how-esop-companies-share-profits-with-employees</loc><lastmod>2026-05-11</lastmod></url><url><loc>https://www.nceo.org/research/data/inside-esop-fiduciary-handbook-digital</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/training/courses/questions-answers-duties-esop-fiduciaries-digital</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-happens-if-an-esop-401k-plan-or-other-qualified-plan</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/research/data/questions-answers-duties-esop-fiduciaries-digital</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/member/document-library/voting-documentation</loc><lastmod>2026-05-11</lastmod></url><url><loc>https://www.nceo.org/training/courses/esop-database-division-9</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-employees-help-pay-off-an-esop-loan</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-you-use-rebalancing-or-reshuffling-to-fix-an-s-esop</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/publications/esop-database-division-3</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/how-small-is-too-small-for-an-esop</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/member-peer-networking-opportunities</loc><image:image><image:loc>https://www.nceo.org/hubfs/FWG.png</image:loc><image:caption>FWG</image:caption><image:title>FWG</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/CEO.png</image:loc><image:caption>CEO</image:caption><image:title>CEO</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/EOT-2.png</image:loc><image:caption>EOT2</image:caption><image:title>EOT2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Board%20Member%20Peer%20Network_final.png</image:loc><image:caption>BoardMemberPeerNetworkfinal</image:caption><image:title>BoardMemberPeerNetworkfinal</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/ICC-1.png</image:loc><image:caption>ICC1</image:caption><image:title>ICC1</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Readytalk%203.jpg</image:loc><image:caption>Readytalk3</image:caption><image:title>Readytalk3</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Service%20Provider%20Peer%20Network%20Icon.png</image:loc><image:caption>ServiceProviderPeerNetworkIcon</image:caption><image:title>ServiceProviderPeerNetworkIcon</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Healthcare.png</image:loc><image:caption>Healthcare</image:caption><image:title>Healthcare</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Large%20ESOP.png</image:loc><image:caption>LargeESOP</image:caption><image:title>LargeESOP</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/HR-1.png</image:loc><image:caption>HR1</image:caption><image:title>HR1</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Rising%20Leaders.png</image:loc><image:caption>RisingLeaders</image:caption><image:title>RisingLeaders</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2026-03-10</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-legal-digest</loc><image:image><image:loc>https://www.nceo.org/hubfs/Chris-W.jpg</image:loc><image:caption>ChrisW</image:caption><image:title>ChrisW</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/profile%20pic%20aw.jpg</image:loc><image:caption>profilepicaw</image:caption><image:title>profilepicaw</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Screenshot%202026-0b%20david%20joffe3-06%20102739.png</image:loc><image:caption>Screenshot20260bdavidjoffe306102739</image:caption><image:title>Screenshot20260bdavidjoffe306102739</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/griffin-ogara-copy1_1728070923.png</image:loc><image:caption>griffinogaracopy11728070923</image:caption><image:title>griffinogaracopy11728070923</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Corey-Rosen-150x150.jpg</image:loc><image:caption>CoreyRosen150x150</image:caption><image:title>CoreyRosen150x150</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/uploaded-assets/images/NCEO-member-badge-(circle)-500x500-transp-bg.png</image:loc><image:caption>NCEOmemberbadgecircle500x500transpbg</image:caption><image:title>NCEOmemberbadgecircle500x500transpbg</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/kandel_alan_headshot_image_187872.png</image:loc><image:caption>kandelalanheadshotimage187872</image:caption><image:title>kandelalanheadshotimage187872</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2026-04-23</lastmod></url><url><loc>https://www.nceo.org/eot-ppt-best-practices-survey</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2025-07-07</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/when-s-corporation-distributions-are-used-to-repay-an-esop-debt</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/training/courses/esop-communications-sourcebook</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/training/courses/esop-regulatory-rulings-digital</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/cash-and-stock-portions-of-an-employees-esop-account-treated-differently</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/resource-toolkits</loc><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/hero/public/uploaded-assets/hero-bg-images/pexels-fauxels-3183150.jpg</image:loc><image:caption>pexelsfauxels3183150</image:caption><image:title>pexelsfauxels3183150</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2026-05-13</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-alternatives-are-there-to-basing-esop-allocations-on-relative-compensation</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/ac26member</loc><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/person-photos/Jaymie-Oviedo_10-15-2020_200x200.jpg</image:loc><image:caption>JaymieOviedo10152020200x200</image:caption><image:title>JaymieOviedo10152020200x200</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/join-header.jpg</image:loc><image:caption>joinheader</image:caption><image:title>joinheader</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/GD%20headshot%202024.png</image:loc><image:caption>GDheadshot2024</image:caption><image:title>GDheadshot2024</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/RRB%20headshot%202025.png</image:loc><image:caption>RRBheadshot2025</image:caption><image:title>RRBheadshot2025</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2026-03-23</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-a-company-true-up-esop-account-balances-for-employees-who</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-contributions-to-an-esop-for-a-tax-year-be-made</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-the-esop-trustee-pay-more-than-fair-market-value</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/publications/s-corporation-esops-digital</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/how-does-the-repurchase-obligation-affect-value</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/training/courses/esop-401k-plan-employer-stock-litigation-review</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-a-company-loan-money-to-an-employee-after-termination-esop</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/articles/freezing-terminating-esop</loc><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Blog_Banner.jpg</image:loc><image:caption>BlogBanner</image:caption><image:title>BlogBanner</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2024-12-16</lastmod></url><url><loc>https://www.nceo.org/research/data/warrants-esop-transactions-digital</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/publications/acquisition-strategies-esop-companies-digital</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-is-an-employee-ownership-trust-eot</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-is-in-the-summary-plan-description-esop</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/research/data/esop-repurchase-obligation-handbook-digital</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/being-acquired-esop-company-toolkit/case-study-clown-shoes-brewing</loc><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/hero/public/uploaded-assets/hero-bg-images/pexels-fauxels-3183150.jpg</image:loc><image:caption>pexelsfauxels3183150</image:caption><image:title>pexelsfauxels3183150</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2025-01-10</lastmod></url><url><loc>https://www.nceo.org/group-captive-insurance-plan-for-esop-employee-owned-companies</loc><image:image><image:loc>https://www.nceo.org/hubfs/OWNHealthMembership.png</image:loc><image:caption>OWNHealthMembership</image:caption><image:title>OWNHealthMembership</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Blog_Banner.jpg</image:loc><image:caption>BlogBanner</image:caption><image:title>BlogBanner</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Group%20Captive%20graphic.png</image:loc><image:caption>GroupCaptivegraphic</image:caption><image:title>GroupCaptivegraphic</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2026-07-09</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-preferred-shares-be-used-in-a-leveraged-esop</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/member/qa</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2024-12-20</lastmod></url><url><loc>https://www.nceo.org/research/data/using-employee-ownership-trust-business-transition</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/publications/esop-company-board-handbook</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/research/data/accounting-equity-compensation</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/what-is-employee-ownership/federal-legislation-on-employee-ownership</loc><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Blog_Banner.jpg</image:loc><image:caption>BlogBanner</image:caption><image:title>BlogBanner</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2025-11-19</lastmod></url><url><loc>https://www.nceo.org/training/courses/esop-executive-compensation-survey</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/how-can-companies-with-direct-employee-ownership-plans-provide-liquidity-for</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/research/data/selling-esop-financing-deal</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/exclusive-leadership-cohorts</loc><image:image><image:loc>https://www.nceo.org/hubfs/logos/Large%20ESOP%20Company%20Network_0.png</image:loc><image:caption>LargeESOPCompanyNetwork0</image:caption><image:title>LargeESOPCompanyNetwork0</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/logos/CEO%20Network.png</image:loc><image:caption>CEONetwork</image:caption><image:title>CEONetwork</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Leadership.jpg</image:loc><image:caption>Leadership</image:caption><image:title>Leadership</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/logos/Health%20Care%20ESOP%20Work%20Group_1.png</image:loc><image:caption>HealthCareESOPWorkGroup1</image:caption><image:title>HealthCareESOPWorkGroup1</image:title></image:image><lastmod>2025-06-11</lastmod></url><url><loc>https://www.nceo.org/member-peer-networking-opportunities/hr-peer-networking</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Readytalk%203.jpg</image:loc><image:caption>Readytalk3</image:caption><image:title>Readytalk3</image:title></image:image><lastmod>2026-01-07</lastmod></url><url><loc>https://www.nceo.org/research/data/s-corporation-esop-traps-unwary-digital</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-is-the-cost-basis-of-repurchased-shares</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-is-adequate-security-for-the-esop-repurchase-obligation</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/publications/esop-database-division-5</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/how-does-selling-to-an-esop-compare-to-selling-to-an</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-i-use-the-esop-for-safe-harbor-matching-contributions-to-401k</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/member/document-library/owners-manual-butler-till</loc><lastmod>2026-05-11</lastmod></url><url><loc>https://www.nceo.org/research/data/esop-database-division-2</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/research/data/esop-database-fire</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/training/courses/beyond-engagement</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-are-the-vesting-rules-for-esops</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/if-a-company-takes-on-new-debt-to-buy-additional-shares</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/publications/selling-esop-financing-deal-digital</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/research/data/beyond-engagement</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/publications/beyond-engagement-digital</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/member/document-library/interview-questions-for-prospective-board-members</loc><lastmod>2026-05-11</lastmod></url><url><loc>https://www.nceo.org/careers/research-intern</loc><image:image><image:loc>https://www.nceo.org/hubfs/Events/NCEO_cropped-min.jpg</image:loc><image:caption>NCEOcroppedmin</image:caption><image:title>NCEOcroppedmin</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2025-11-25</lastmod></url><url><loc>https://www.nceo.org/publications/accounting-equity-compensation</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-an-employee-ownership-trust-own-less-than-100-of-a</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/member/document-library/evaluating-an-appraisal-report</loc><lastmod>2026-05-11</lastmod></url><url><loc>https://www.nceo.org/publications/creating-sustainable-esop-distribution-policy-digital</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-happens-when-esop-qualified-replacement-property-goes-into-an-estate</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-are-typical-oversight-responsibilities-of-the-esop-administrative-committee</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-a-company-vary-its-esop-contribution-levels-to-each-employee</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/articles/duties-esop-committee</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/hero/public/uploaded-assets/hero-bg-images/pexels-fauxels-3183150.jpg</image:loc><image:caption>pexelsfauxels3183150</image:caption><image:title>pexelsfauxels3183150</image:title></image:image><lastmod>2026-03-31</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/do-sellers-to-an-employee-ownership-trust-eot-receive-any-tax</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/member/document-library/esop-communications-committee-charter</loc><lastmod>2026-05-11</lastmod></url><url><loc>https://www.nceo.org/training/courses/gps-4-in-1</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/training/courses/esop-regulatory-rulings</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-if-shares-are-distributed-under-an-esop-after-appraisal</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/training/courses/esop-database-fire</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/we-have-a-partial-s-corporation-esop.-can-we-gross-up</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/how-does-the-cost-of-setting-up-an-employee-ownership-trust</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-makes-an-esop-not-feasible</loc><lastmod>2026-06-25</lastmod></url><url><loc>https://www.nceo.org/research/data/dont-do-that-your-esop-digital</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-a-plan-require-that-employees-in-an-s-corporation-receive</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/research/data/ownership-tale-digital</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/training/courses/online-esop-training</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/research/data/creating-sustainable-esop-distribution-policy-digital</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/member/document-library/esop-company-board-handbook-excerpt</loc><lastmod>2026-05-11</lastmod></url><url><loc>https://www.nceo.org/training/courses/equity-compensation-limited-liability-companies-llcs-digital</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/does-an-esop-in-an-s-corporation-have-to-receive-its</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/financial-circumstances-against-c-s-conversion</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/training/courses/esop-repurchase-obligation-handbook-digital</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/research/data/dont-do-that-your-esop</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/publications/retention-and-recruitment-survey</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/publications/esop-database-fire</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/examples-of-fiduciary-decisions-the-esop-administrative-committee</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/eox-nceo</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/inline-images/Feasibility%20Toolkit_logo.jpg</image:loc><image:caption>FeasibilityToolkitlogo</image:caption><image:title>FeasibilityToolkitlogo</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/uploaded-assets/preview-images/WhoShouldOwn_392x152.png</image:loc><image:caption>WhoShouldOwn392x152</image:caption><image:title>WhoShouldOwn392x152</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Curvy%20road%20and%20view%20of%20downtown%20at%20sunrise%20from%20Twin%20Peaks%2c%20in%20San%20Francisco%2c%20California..jpeg</image:loc><image:caption>CurvyroadandviewofdowntownatsunrisefromTwinPeaksinSanFranciscoCalifornia</image:caption><image:title>CurvyroadandviewofdowntownatsunrisefromTwinPeaksinSanFranciscoCalifornia</image:title></image:image><lastmod>2025-09-10</lastmod></url><url><loc>https://www.nceo.org/training/courses/acquisition-strategies-esop-companies-digital</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/publications/esop-communications-sourcebook</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/esop-valuation-timing-distribution</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/training/courses/esop-communication-committee-guide</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/how-can-companies-deal-with-the-impact-of-additional-debt-from-new-esop-loan</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/research/data/esop-company-board-handbook-digital</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/publications/dont-do-that-your-esop-digital</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/are-standard-severance-and-or-change-of-control-payments-synthetic-equity</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/how-common-is-it-for-closely-held-companies-to-be-broadly</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/if-a-company-is-using-the-principal-only-method-for-releasing</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/member/document-library/sample-rfp-for-retirement-plan-audits</loc><lastmod>2026-05-11</lastmod></url><url><loc>https://www.nceo.org/training/courses/esop-corporate-governance-survey</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/member/document-library/form-for-trustees-to-evaluate-potential-appraisers</loc><lastmod>2026-05-11</lastmod></url><url><loc>https://www.nceo.org/training/courses/using-employee-ownership-trust-business-transition-digital</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/publications/decision-makers-guide-equity-compensation</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/member/document-library/bl-companies-sample-statement-of-participation</loc><lastmod>2026-05-11</lastmod></url><url><loc>https://www.nceo.org/research/data/best-practices-esop-401k-combinations</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-s-corporation-distributions-also-called-dividends-be-passed-through-to</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/training/courses/introduction-esops</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/what-is-employee-ownership/an-introduction-to-employee-ownership-trusts</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Blog_Banner.jpg</image:loc><image:caption>BlogBanner</image:caption><image:title>BlogBanner</image:title></image:image><lastmod>2026-05-12</lastmod></url><url><loc>https://www.nceo.org/publications/esop-repurchase-obligation-handbook</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/research/data/esop-database-division-1</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/member/document-library/trustee-annual-checklist</loc><lastmod>2026-05-11</lastmod></url><url><loc>https://www.nceo.org/research/employee-ownership-by-the-numbers</loc><image:image><image:loc>https://www.nceo.org/hubfs/table.webp</image:loc><image:caption>table</image:caption><image:title>table</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/slides.webp</image:loc><image:caption>slides</image:caption><image:title>slides</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/uploaded-assets/hero-bg-images/Stock-market-data-for-CEPI-page-1920x600.jpg</image:loc><image:caption>StockmarketdataforCEPIpage1920x600</image:caption><image:title>StockmarketdataforCEPIpage1920x600</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/eo-2026b.jpg</image:loc><image:caption>eo2026b</image:caption><image:title>eo2026b</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/economic-power-2025b.png</image:loc><image:caption>economicpower2025b</image:caption><image:title>economicpower2025b</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/research/esop-numbers.jpg</image:loc><image:caption>esopnumbers</image:caption><image:title>esopnumbers</image:title></image:image><lastmod>2026-06-01</lastmod></url><url><loc>https://www.nceo.org/training/courses/esop-database-division-8</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/training/esop-board-training</loc><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/uploaded-assets/hero-bg-images/Boardroom-with-sunlight-1920x600.jpg</image:loc><image:caption>Boardroomwithsunlight1920x600</image:caption><image:title>Boardroomwithsunlight1920x600</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/thumbnail/public/person-photos/Corey-Rosen-2_24_2017-100px.jpg</image:loc><image:caption>CoreyRosen2242017100px</image:caption><image:title>CoreyRosen2242017100px</image:title></image:image><lastmod>2026-01-26</lastmod></url><url><loc>https://www.nceo.org/research/data/innovative-esop-transaction-structures-digital</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/training/courses/esops-corporate-governance</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/publications/esop-database-pro-sci-tech-services</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/member/document-library/annual-board-and-trustee-checklists</loc><lastmod>2026-05-11</lastmod></url><url><loc>https://www.nceo.org/pre-publication-ordering-information-for-an-introduction-to-esops-22nd-ed</loc><image:image><image:loc>https://www.nceo.org/hubfs/An-Introduction-to-ESOPs-22nd-233x300-3D.png</image:loc><image:caption>AnIntroductiontoESOPs22ndEd</image:caption><image:title>AnIntroductiontoESOPs22nd233x3003D</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Intro-text-22nd-composite-image-617x267.png</image:loc><image:caption>AnIntroductiontoESOPs22ndEdexcerpts</image:caption><image:title>Introtext22ndcompositeimage617x267</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Introduction-to-ESOPs-22nd-cover-annotated-694x463-24bit.png</image:loc><image:caption>AnIntroductiontoESOPs22ndEdshowingwherethecovercanbecustomized</image:caption><image:title>IntroductiontoESOPs22ndcoverannotated694x46324bit</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Books-on-library-shelf-1920x723.webp</image:loc><image:caption>Booksonlibraryshelf1920x723</image:caption><image:title>Booksonlibraryshelf1920x723</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/An-Introduction-to-ESOPs-22nd-for-social-1200x627.jpg</image:loc><image:caption>AnIntroductiontoESOPs22ndEd</image:caption><image:title>AnIntroductiontoESOPs22ndforsocial1200x627</image:title></image:image><lastmod>2025-12-02</lastmod></url><url><loc>https://www.nceo.org/articles/esops-profit-sharing-stock-bonus-plans</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/hero/public/uploaded-assets/hero-bg-images/pexels-fauxels-3183150.jpg</image:loc><image:caption>pexelsfauxels3183150</image:caption><image:title>pexelsfauxels3183150</image:title></image:image><lastmod>2025-06-30</lastmod></url><url><loc>https://www.nceo.org/the-download-april-2026-english</loc><image:image><image:loc>https://www.nceo.org/hubfs/April%202026%20Download_Screenshot-1.png</image:loc><image:caption>April2026DownloadScreenshot1</image:caption><image:title>April2026DownloadScreenshot1</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Blog_Banner.jpg</image:loc><image:caption>BlogBanner</image:caption><image:title>BlogBanner</image:title></image:image><lastmod>2026-05-01</lastmod></url><url><loc>https://www.nceo.org/research/data/esop-communications-sourcebook</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/member/document-library/the-board-plan-workbook</loc><lastmod>2026-05-11</lastmod></url><url><loc>https://www.nceo.org/publications/esop-repurchase-obligation-handbook-digital</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/is-an-independent-appraisal-required-if-there-is-no-stock-contribution</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/member/affiliated-resources</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2024-11-15</lastmod></url><url><loc>https://www.nceo.org/publications/esop-executive-compensation-survey</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/research/data/best-practices-esop-401k-combinations-digital</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/research/data/banks-esop-sponsors</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-are-the-advantages-and-disadvantages-of-delaying-repurchase-obligations-after</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/how-do-employees-handle-assignment-of-their-esop-benefits-to-someone</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/training/courses/equity-compensation-limited-liability-companies-llcs</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/member/document-library/finding-and-keeping-employee-owners-transcript-resource-guid</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2024-11-06</lastmod></url><url><loc>https://www.nceo.org/publications/esop-database-division-1</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/training/courses/beyond-engagement-digital</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/training/courses/esop-database-division-7</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/research/research-findings-on-employee-ownership</loc><image:image><image:loc>https://www.nceo.org/hubfs/2018-nceo-esca-report-cover.png</image:loc><image:caption>2018nceoescareportcover</image:caption><image:title>2018nceoescareportcover</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/study-us-food-system-cover.png</image:loc><image:caption>studyusfoodsystemcover</image:caption><image:title>studyusfoodsystemcover</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/uploaded-assets/hero-bg-images/Research.jpg</image:loc><image:caption>Research</image:caption><image:title>Research</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/2020-eof-rutgers-study-cover.png</image:loc><image:caption>2020eofrutgersstudycover</image:caption><image:title>2020eofrutgersstudycover</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/2021-nceo-esca-study-cover.png</image:loc><image:caption>2021nceoescastudycover</image:caption><image:title>2021nceoescastudycover</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/image-png-1.png</image:loc><image:caption>imagepng1</image:caption><image:title>imagepng1</image:title></image:image><lastmod>2026-06-10</lastmod></url><url><loc>https://www.nceo.org/member/peer-networks</loc><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/hero/public/uploaded-assets/hero-bg-images/Readytalk%203.jpg</image:loc><image:caption>Readytalk3</image:caption><image:title>Readytalk3</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2026-04-21</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-a-company-avoid-the-section-409p-s-esop-anti-abuse</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/research/data/s-corporation-esop-traps-unwary</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/publications/executive-director-compensation-esop-companies-digital</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/if-a-private-company-becomes-publicly-traded-esop-distribution-policy</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/does-it-make-sense-for-companies-to-borrow-money-to-fund</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-counts-as-eligible-compensation-or-eligible-pay-esop</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/how-long-does-it-take-to-set-up-a-leveraged-esop</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/publications/understanding-esops</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/training/courses/banks-esop-sponsors</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/member/document-library/esop-trustee-checklist-setting-up-an-esop</loc><lastmod>2026-05-11</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/how-can-we-assess-how-much-the-repurchase-obligation-will-be</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-is-a-letter-of-determination-and-when-must-an-application</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/training/courses/selected-issues-equity-compensation</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/more-flexible-written-distribution-policy-than-esop-plan-document</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/articles/dividends-employee-ownership</loc><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/hero/public/uploaded-assets/hero-bg-images/pexels-fauxels-3183150.jpg</image:loc><image:caption>pexelsfauxels3183150</image:caption><image:title>pexelsfauxels3183150</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2024-12-17</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-is-the-employee-plans-compliance-resolution-system-epcrs</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/member/document-library/spreadsheet-form-for-allocation-reconciliation</loc><lastmod>2026-05-11</lastmod></url><url><loc>https://www.nceo.org/publications/selected-issues-equity-compensation</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/training/courses/using-employee-ownership-trust-business-transition</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/publications/banks-esop-sponsors-digital</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/do-multiple-esops-count-contribution-limit</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/resource-guide-ac26</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Events/NCEO_cropped-min.jpg</image:loc><image:caption>NCEOcroppedmin</image:caption><image:title>NCEOcroppedmin</image:title></image:image><lastmod>2026-02-27</lastmod></url><url><loc>https://www.nceo.org/what-is-employee-ownership/equity-compensation/equity-incentives-limited-liability-company-llc</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/hero/public/uploaded-assets/hero-bg-images/pexels-fauxels-3183150.jpg</image:loc><image:caption>pexelsfauxels3183150</image:caption><image:title>pexelsfauxels3183150</image:title></image:image><lastmod>2025-12-01</lastmod></url><url><loc>https://www.nceo.org/training/courses/banks-esop-sponsors-digital</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/publications/esops-corporate-governance</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-kind-of-employer-stock-must-an-esop-own</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-should-we-do-if-we-face-an-excess-contribution-under-section-415</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/what-is-employee-ownership/esop-employee-stock-ownership-plan</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/hero/public/uploaded-assets/hero-bg-images/Attendee%20using%20laptop%20&amp;%20phone.jpg</image:loc><image:caption>Attendeeusinglaptopphone</image:caption><image:title>Attendeeusinglaptopphone</image:title></image:image><lastmod>2026-07-02</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/who-qualifies-for-the-section-1042-tax-deferral-esop</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-a-company-use-its-esop-to-acquire-another-company-and</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/training/courses/ownership-tale</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/member/nceo-member-exclusive-research-and-data</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2026-06-02</lastmod></url><url><loc>https://www.nceo.org/member/document-library/board-of-directors-charter</loc><lastmod>2026-05-11</lastmod></url><url><loc>https://www.nceo.org/training/courses/inside-esop-fiduciary-handbook-digital</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/member/lender-directory</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2025-06-25</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/are-s-corporation-distributions-passed-through-to-employees-in-an-esop</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-defer-the-start-of-its-esop-distributions-death-retirement-disability</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/how-does-the-put-option-in-an-esop-affect-share-value</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/training/courses/esop-database-manufacturing</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/research/data/creating-sustainable-esop-distribution-policy</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-are-the-rules-for-taxation-of-built-in-gains-when-converting-c-to-s</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/military-leave-esop-allocations</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-kinds-of-securities-can-esop-seller-reinvest-in</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/who-decides-whether-to-sell-when-an-esop-company-has-an-offer</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/training/courses/repurchase-obligation-survey</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-an-independent-esop-trustee-be-designated-for-a-particular-issue</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/if-seller-forgives-all-or-part-of-an-esop-note-allocation</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/research/data/accounting-leveraged-esop-transactions-digital</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/training/inside-esop-fiduciary-training</loc><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Blog_Banner.jpg</image:loc><image:caption>BlogBanner</image:caption><image:title>BlogBanner</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/thumbnail/public/person-photos/Corey-Rosen-2_24_2017-100px.jpg</image:loc><image:caption>CoreyRosen2242017100px</image:caption><image:title>CoreyRosen2242017100px</image:title></image:image><lastmod>2025-06-12</lastmod></url><url><loc>https://www.nceo.org/research/data/introduction-esops</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/training/courses/esop-repurchase-obligation-handbook</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/how-is-net-unrealized-appreciation-computed-with-respect-to-s-esop</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/recommendations-dol-work-act</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2025-06-12</lastmod></url><url><loc>https://www.nceo.org/training/courses/terminating-esop-valuation-fiduciary-issues</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/member/document-library/sample-dol-questions-on-esop-appraisals</loc><lastmod>2026-05-11</lastmod></url><url><loc>https://www.nceo.org/training/courses/national-esop-database</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/publications/questions-answers-duties-esop-fiduciaries-digital</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/research/data/equity-alternatives-phantom-stock-sars-restricted-stock-performance-awards</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-booklet</loc><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Blog_Banner.jpg</image:loc><image:caption>BlogBanner</image:caption><image:title>BlogBanner</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2026-02-10</lastmod></url><url><loc>https://www.nceo.org/research/data/leadership-development-succession-digital</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/publications/sustainable-esops-digital</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/what-is-employee-ownership</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Hero%20Images/NCEO%20Day%202-033%20(2).jpg</image:loc><image:caption>NCEODay20332</image:caption><image:title>NCEODay20332</image:title></image:image><lastmod>2026-04-07</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-an-s-corporation-have-voting-and-non-voting-common-stock</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-a-company-prepay-an-esop-loan-excess-415</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/research/data/selected-issues-equity-compensation</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/what-is-employee-ownership/comparison-of-forms-of-employee-ownership</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/hero/public/uploaded-assets/hero-bg-images/pexels-fauxels-3183150.jpg</image:loc><image:caption>pexelsfauxels3183150</image:caption><image:title>pexelsfauxels3183150</image:title></image:image><lastmod>2026-07-09</lastmod></url><url><loc>https://www.nceo.org/bdr</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2025-12-19</lastmod></url><url><loc>https://www.nceo.org/member/document-library/board-of-directors-job-description</loc><lastmod>2026-05-11</lastmod></url><url><loc>https://www.nceo.org/research/data/esop-database-pro-sci-tech-services</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/esop-valuation-is-completed-after-the-required-90-day-period-diversification</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-employees-buy-stock-directly-in-a-closely-held-company</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/research/data/esop-regulatory-rulings-digital</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/is-there-a-way-to-correct-a-deficiency-in-an-esop</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-a-plan-participant-roll-an-esop-distribution-into-a-roth</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/research/data/direct-employee-ownership-digital</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-an-s-corporation-esop-be-used-primarily-to-benefit-just</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/research/data/equity-compensation-limited-liability-companies-llcs</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/publications/best-practices-esop-401k-combinations</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/memberbenefits</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/join-header.jpg</image:loc><image:caption>joinheader</image:caption><image:title>joinheader</image:title></image:image><lastmod>2026-07-17</lastmod></url><url><loc>https://www.nceo.org/publications/equity-alternatives-phantom-stock-sars-restricted-stock-performance-awards-digital</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/training/courses/esop-communication-committee-guide-digital</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/training/beyond-engagement-training</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/thumbnail/public/person-photos/Corey-Rosen-2_24_2017-100px.jpg</image:loc><image:caption>CoreyRosen2242017100px</image:caption><image:title>CoreyRosen2242017100px</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/1920x700/public/uploaded-assets/banners/owners-2.jpg</image:loc><image:caption>owners2</image:caption><image:title>owners2</image:title></image:image><lastmod>2025-06-12</lastmod></url><url><loc>https://www.nceo.org/research/data/acquisition-strategies-esop-companies-digital</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/how-does-the-anti-abuse-test-work</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/member/document-library/bl-companies-esop-statement-of-participation-powerpoint</loc><lastmod>2026-05-11</lastmod></url><url><loc>https://www.nceo.org/member/employee-ownership-month-toolkit</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2025-09-26</lastmod></url><url><loc>https://www.nceo.org/publications/ownership-tale-digital</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/training/courses/accounting-equity-compensation</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/member/document-library/board-evaluation-form</loc><lastmod>2026-05-11</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/how-does-a-leveraged-esop-work</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/articles/where-did-employee-ownership-month-come</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Events/NCEO_cropped-min.jpg</image:loc><image:caption>NCEOcroppedmin</image:caption><image:title>NCEOcroppedmin</image:title></image:image><lastmod>2025-10-02</lastmod></url><url><loc>https://www.nceo.org/publications/acquisition-strategies-esop-companies</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/articles/rights-esop-participants</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/hero/public/uploaded-assets/hero-bg-images/pexels-fauxels-3183150.jpg</image:loc><image:caption>pexelsfauxels3183150</image:caption><image:title>pexelsfauxels3183150</image:title></image:image><lastmod>2025-06-11</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-a-seller-finance-an-esop-loan</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/in-an-s-corporation-can-companies-combine-distributions-and-contributions-to</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/training/courses/dol-fiduciary-process-agreements-esop-transactions</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/member-peer-networking-opportunities/health-care-esop-work-group</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Leadership.jpg</image:loc><image:caption>Leadership</image:caption><image:title>Leadership</image:title></image:image><lastmod>2025-12-16</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/if-on-the-date-of-termination-a-participants-vested-account-balance</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/member/document-library/finding-and-keeping-employee-owners-transcript-resource-guide</loc><lastmod>2026-05-11</lastmod></url><url><loc>https://www.nceo.org/training/courses/esop-database-division-6</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/training/cep-institute-cepi-exam-prep-course</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Screenshot-of-CEPI--L1-quiz-screen-2-769x470.png</image:loc><image:caption>ScreenshotofCEPIL1quizscreen2769x470</image:caption><image:title>ScreenshotofCEPIL1quizscreen2769x470</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Screenshot-of-CEPI-Prep-Course-supplemental-document-769x515.png</image:loc><image:caption>ScreenshotofCEPIPrepCoursesupplementaldocument769x515</image:caption><image:title>ScreenshotofCEPIPrepCoursesupplementaldocument769x515</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Screenshot-of-CEPI-Prep-Course-webinar-679x704.webp</image:loc><image:caption>CEPIPrepCoursewebinarscreenshot</image:caption><image:title>ScreenshotofCEPIPrepCoursewebinar679x704</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Screenshot-of-CEPI--L3-quiz-screen-completed_0.png</image:loc><image:caption>ScreenshotofCEPIL3quizscreencompleted0</image:caption><image:title>ScreenshotofCEPIL3quizscreencompleted0</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Screenshot-of-CEPI--L1-quiz-screen-1-769x331.png</image:loc><image:caption>ScreenshotofCEPIL1quizscreen1769x331</image:caption><image:title>ScreenshotofCEPIL1quizscreen1769x331</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Screenshot-of-Thinkific-student-dashboard-769x586.jpeg</image:loc><image:caption>ScreenshotofThinkificstudentdashboard769x586</image:caption><image:title>ScreenshotofThinkificstudentdashboard769x586</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/banner-thinking-people-nceo.jpg</image:loc><image:caption>bannerthinkingpeoplenceo</image:caption><image:title>bannerthinkingpeoplenceo</image:title></image:image><lastmod>2026-05-09</lastmod></url><url><loc>https://www.nceo.org/research/data/retention-and-recruitment-survey</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/research/data/selling-esop-financing-deal-digital</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-is-the-discount-for-lack-of-marketability-esop</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/when-do-esop-companies-typically-distribute-account-balances-to-employees</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-happens-if-an-employee-in-an-s-corporation-esop-accumulates</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/training/courses/warrants-esop-transactions-digital</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-constitutes-publicly-traded-for-the-repurchase-obligation</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/member/newsletter</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2025-06-10</lastmod></url><url><loc>https://www.nceo.org/inclusivity-fund</loc><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Play_Btn.png</image:loc><image:caption>PlayBtn</image:caption><image:title>PlayBtn</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/hero/public/uploaded-assets/hero-bg-images/2013_OGC_Tomato_Wars_0742.jpg</image:loc><image:caption>2013OGCTomatoWars0742</image:caption><image:title>2013OGCTomatoWars0742</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/NCEOX%20Logo_High%20Quality%20PNG%20(1).png</image:loc><image:caption>NCEOXLogoHighQualityPNG1</image:caption><image:title>NCEOXLogoHighQualityPNG1</image:title></image:image><lastmod>2025-12-05</lastmod></url><url><loc>https://www.nceo.org/publications/fiduciarys-guide-esop-valuation-digital</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/research/data/terminating-esop-valuation-fiduciary-issues</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/join</loc><image:image><image:loc>https://www.nceo.org/hubfs/FAQ%20Background%202.png</image:loc><image:caption>FAQBackground2</image:caption><image:title>FAQBackground2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Testimonial%20Section%20Background.png</image:loc><image:caption>TestimonialSectionBackground</image:caption><image:title>TestimonialSectionBackground</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Play_Btn.png</image:loc><image:caption>PlayBtn</image:caption><image:title>PlayBtn</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/join-header.jpg</image:loc><image:caption>joinheader</image:caption><image:title>joinheader</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/dmr_1966_52848347504_o-1-1.jpeg</image:loc><image:caption>dmr196652848347504o11</image:caption><image:title>dmr196652848347504o11</image:title></image:image><lastmod>2026-05-26</lastmod></url><url><loc>https://www.nceo.org/research/data/esop-database-manufacturing</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/what-is-employee-ownership/selling-to-an-esop-versus-conventional-sale</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Blog_Banner.jpg</image:loc><image:caption>BlogBanner</image:caption><image:title>BlogBanner</image:title></image:image><lastmod>2026-07-02</lastmod></url><url><loc>https://www.nceo.org/member/document-library/text-describing-esop-company-response-to-acquisition-offer</loc><lastmod>2026-05-11</lastmod></url><url><loc>https://www.nceo.org/training/courses/selected-issues-equity-compensation-digital</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/research/data/equity-compensation-limited-liability-companies-llcs-digital</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/training/courses/esop-database-division-5</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/member/document-library/sample-company-acquisition-policy</loc><lastmod>2026-05-11</lastmod></url><url><loc>https://www.nceo.org/member/recruitment-and-retention-toolkit</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2026-07-07</lastmod></url><url><loc>https://www.nceo.org/training/courses/inside-esop-fiduciary-handbook</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/training/courses/direct-employee-ownership</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/do-general-family-attribution-rules-apply-to-the-anti-abuse-testing</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-a-company-true-up-esop-account-balances-for-employees</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/publications/stock-options-book</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/research/data/banks-esop-sponsors-digital</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/research/data/esop-database-division-9</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-is-floor-price-protection-esop</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/definition-of-non-publicly-traded-securities-for-esop</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/is-the-esop-administrative-committee-the-same-as-the-plan-fiduciary</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/research</loc><image:image><image:loc>https://www.nceo.org/hubfs/nceo_survey_icons_2X_teal.png</image:loc><image:caption>nceosurveyicons2Xteal</image:caption><image:title>nceosurveyicons2Xteal</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/slides-icon.svg</image:loc><image:caption>slidesicon</image:caption><image:title>slidesicon</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/nceo_survey_icons_2X_orange.png</image:loc><image:caption>nceosurveyicons2Xorange</image:caption><image:title>nceosurveyicons2Xorange</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Blog_Left_Shape.png</image:loc><image:caption>BlogLeftShape</image:caption><image:title>BlogLeftShape</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Play_Btn.png</image:loc><image:caption>PlayBtn</image:caption><image:title>PlayBtn</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/database-icon.svg</image:loc><image:caption>databaseicon</image:caption><image:title>databaseicon</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/08e7281cc8deea365bff8ef2709afed9-1.jpg</image:loc><image:caption>08e7281cc8deea365bff8ef2709afed91</image:caption><image:title>08e7281cc8deea365bff8ef2709afed91</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Nancy%20Wiefek%20portrait.webp</image:loc><image:caption>NancyWiefekportrait</image:caption><image:title>NancyWiefekportrait</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Liza%20Shifrin-0012.jpg</image:loc><image:caption>LizaShifrin0012</image:caption><image:title>LizaShifrin0012</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/nceo_survey_icons_2X_green.png</image:loc><image:caption>nceosurveyicons2Xgreen</image:caption><image:title>nceosurveyicons2Xgreen</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/d0c763256d20d55f76d0d178aee01379-min.jpeg</image:loc><image:caption>d0c763256d20d55f76d0d178aee01379min</image:caption><image:title>d0c763256d20d55f76d0d178aee01379min</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/table%20(1).png</image:loc><image:caption>table1</image:caption><image:title>table1</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/vumbnail.jpg</image:loc><image:caption>vumbnail</image:caption><image:title>vumbnail</image:title></image:image><lastmod>2026-06-10</lastmod></url><url><loc>https://www.nceo.org/about/careers</loc><image:image><image:loc>https://www.nceo.org/hubfs/Events/NCEO_cropped-min.jpg</image:loc><image:caption>NCEOcroppedmin</image:caption><image:title>NCEOcroppedmin</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2026-07-06</lastmod></url><url><loc>https://www.nceo.org/what-is-employee-ownership/employee-ownership-small-businesses-under-20-employees</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Blog_Banner.jpg</image:loc><image:caption>BlogBanner</image:caption><image:title>BlogBanner</image:title></image:image><lastmod>2025-06-12</lastmod></url><url><loc>https://www.nceo.org/publications/esop-database-construction</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/publications/esop-database-manufacturing</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/publications/esop-company-board-handbook-digital</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/member/document-library/esop-market-research-december-2019</loc><lastmod>2026-05-11</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-sort-of-information-will-an-esop-valuation-require</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/the-download-february-2026-english</loc><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Blog_Banner.jpg</image:loc><image:caption>BlogBanner</image:caption><image:title>BlogBanner</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Feb%202026%20Download_Screenshot-1.png</image:loc><image:caption>Feb2026DownloadScreenshot1</image:caption><image:title>Feb2026DownloadScreenshot1</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2026-02-27</lastmod></url><url><loc>https://www.nceo.org/publications/esop-database-division-2</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/publications/dont-do-that-your-esop</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/resource-toolkits/esop-pre-feasibility-toolkit/esop-tax-advantage-calculator</loc><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/hero/public/uploaded-assets/hero-bg-images/pexels-fauxels-3183150.jpg</image:loc><image:caption>pexelsfauxels3183150</image:caption><image:title>pexelsfauxels3183150</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2025-06-12</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-is-the-measurement-date-for-determining-the-value-of-equity</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/research/data/leadership-development-succession</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-is-an-esop</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/if-a-company-has-insurance-on-its-key-people-can-it</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/articles/esops-preferred-status-certification</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Blog_Banner.jpg</image:loc><image:caption>BlogBanner</image:caption><image:title>BlogBanner</image:title></image:image><lastmod>2026-06-16</lastmod></url><url><loc>https://www.nceo.org/the-download-january-2026-english</loc><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Blog_Banner.jpg</image:loc><image:caption>BlogBanner</image:caption><image:title>BlogBanner</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2026-01-28</lastmod></url><url><loc>https://www.nceo.org/esop-education-at-uc-san-diego</loc><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Blog_Banner.jpg</image:loc><image:caption>BlogBanner</image:caption><image:title>BlogBanner</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2026-05-06</lastmod></url><url><loc>https://www.nceo.org/research/data/esop-regulatory-rulings</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/publications/using-employee-ownership-trust-business-transition</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/under-what-circumstances-is-the-company-permitted-to-distribute-esop-account-balances</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/training/courses/responding-acquisition-offers-esop-companies</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/research/the-retirement-savings-crisis-and-the-role-of-esops</loc><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Blog_Banner.jpg</image:loc><image:caption>BlogBanner</image:caption><image:title>BlogBanner</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Cover%20page%20-%20Retirement%20Savings%20Crisis%20and%20the%20Role%20of%20ESOps.png</image:loc><image:caption>CoverpageRetirementSavingsCrisisandtheRoleofESOps</image:caption><image:title>CoverpageRetirementSavingsCrisisandtheRoleofESOps</image:title></image:image><lastmod>2025-09-29</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/how-long-does-it-take-to-set-up-a-non-leveraged-esop</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/training/courses/stock-options-book-digital</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/publications/esop-communication-committee-guide-digital</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/community-standards-member-conversations</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2025-04-25</lastmod></url><url><loc>https://www.nceo.org/policy-use-nceo-content</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2025-06-12</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/how-is-the-sale-price-set-in-an-employee-ownership-trust</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/login</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2024-09-25</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-esop-loans-be-refinanced</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/research/data/esop-executive-compensation-survey</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-the-esop-repurchase-of-shares-be-delayed-until-after-loan</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/member/document-library/sample-employee-covid-19-survey-issues-at-work</loc><lastmod>2026-05-11</lastmod></url><url><loc>https://www.nceo.org/publications/understanding-esops-digital</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/training/courses/decision-makers-guide-equity-compensation-digital</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/publications/stock-options-book-digital</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/resource-toolkits/resources-for-new-esops</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Multicolored%20geometric%20mosaic%20of%20solid%20squares%20(some%20with%20dividers)%20and%20random%20gaps%2c%20with%20a%20scattering%20of%20small%20black%20dots%2c%20on%20dark%20blue%20background%2c%20for%20tiled%20art%20deco%20effect.jpeg</image:loc><image:caption>Multicoloredgeometricmosaicofsolidsquaressomewithdividersandrandomgapswithascatteringofsmallblackdotsondarkbluebackgroundfortiledartdecoeffect</image:caption><image:title>Multicoloredgeometricmosaicofsolidsquaressomewithdividersandrandomgapswithascatteringofsmallblackdotsondarkbluebackgroundfortiledartdecoeffect</image:title></image:image><lastmod>2026-06-22</lastmod></url><url><loc>https://www.nceo.org/publications/repurchase-obligation-survey</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/about/donate</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/hero/public/uploaded-assets/hero-bg-images/2013_OGC_Tomato_Wars_0742.jpg</image:loc><image:caption>2013OGCTomatoWars0742</image:caption><image:title>2013OGCTomatoWars0742</image:title></image:image><lastmod>2025-12-05</lastmod></url><url><loc>https://www.nceo.org/training/courses/s-corporation-esops</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-is-the-voluntary-correction-program-vcp</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/member-peer-networking-opportunities/innovative-communication-coalition</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Readytalk%203.jpg</image:loc><image:caption>Readytalk3</image:caption><image:title>Readytalk3</image:title></image:image><lastmod>2026-04-08</lastmod></url><url><loc>https://www.nceo.org/publications/selected-issues-equity-compensation-digital</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/member/document-library/sample-ceo-evaluation-survey</loc><lastmod>2026-05-11</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/does-every-esop-company-have-to-have-an-esop-administrative-committee</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/member/document-library/interview-questions-for-potential-leadership-candidates</loc><lastmod>2026-05-11</lastmod></url><url><loc>https://www.nceo.org/research/data/s-corporation-esops</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/research/data/dol-fiduciary-process-agreements-esop-transactions-digital</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/articles/working-at-an-esop-company</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/2013_OGC_Tomato_Wars_0742.jpg</image:loc><image:caption>2013OGCTomatoWars0742</image:caption><image:title>2013OGCTomatoWars0742</image:title></image:image><lastmod>2025-08-21</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-sort-of-collateral-do-esop-lenders-require</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/training/courses/esop-company-board-handbook-digital</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/the-download-march-2026-english</loc><image:image><image:loc>https://www.nceo.org/hubfs/March%202026%20Download%20Screenshot_English.png</image:loc><image:caption>March2026DownloadScreenshotEnglish</image:caption><image:title>March2026DownloadScreenshotEnglish</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Blog_Banner.jpg</image:loc><image:caption>BlogBanner</image:caption><image:title>BlogBanner</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2026-04-02</lastmod></url><url><loc>https://www.nceo.org/training/courses</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-an-earnout-be-included-in-a-sale-of-an-esop</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/publications/gps-4-in-1</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/when-participants-leave-the-esop-what-happens-to-the-unvested-shares</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/research/data/decision-makers-guide-equity-compensation-digital</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/training/courses/equity-alternatives-phantom-stock-sars-restricted-stock-performance-awards-digital</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/training/courses/buyers-guide-insurance-fiduciaries-esops-other-benefit-plans-digital</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/publications</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/member/document-library/board-of-directors-guidelines-and-committee-charters</loc><lastmod>2026-05-11</lastmod></url><url><loc>https://www.nceo.org/what-is-employee-ownership/stock-options-restricted-phantom-sars-espps</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/uploaded-assets/hero-bg-images/Stock-market-data-for-CEPI-page-1920x600.jpg</image:loc><image:caption>StockmarketdataforCEPIpage1920x600</image:caption><image:title>StockmarketdataforCEPIpage1920x600</image:title></image:image><lastmod>2026-03-10</lastmod></url><url><loc>https://www.nceo.org/research/data/esop-database-division-8</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-an-employee-ownership-trust-company-be-sold</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/publications/accounting-equity-compensation-digital</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/publications/esop-database-division-9</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/publications/using-employee-ownership-trust-business-transition-digital</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/research/data/esop-401k-plan-employer-stock-litigation-review-digital</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/how-should-distributions-be-allocated-in-an-s-esop</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/training/courses/esop-database-wholesale-retail</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/resource-toolkits/esop-pre-feasibility-toolkit</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/hero/public/uploaded-assets/hero-bg-images/pexels-fauxels-3183150.jpg</image:loc><image:caption>pexelsfauxels3183150</image:caption><image:title>pexelsfauxels3183150</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/inline-images/Feasibility%20Toolkit_logo_0.jpg</image:loc><image:caption>FeasibilityToolkitlogo0</image:caption><image:title>FeasibilityToolkitlogo0</image:title></image:image><lastmod>2026-07-02</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/leveraged-esop-company-needs-to-refinance-a-loan</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/is-government-approval-needed-before-an-esop-can-be-started</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/member/document-library/esop-faq-calibre-systems</loc><lastmod>2026-05-11</lastmod></url><url><loc>https://www.nceo.org/publications/s-corporation-esop-traps-unwary</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/privacy-policy</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Blog_Banner.jpg</image:loc><image:caption>BlogBanner</image:caption><image:title>BlogBanner</image:title></image:image><lastmod>2026-07-01</lastmod></url><url><loc>https://www.nceo.org/publications/esop-database-division-8</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-are-the-limits-for-the-deductibility-of-contributions-to-esops</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/training/courses/esop-database-pro-sci-tech-services</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/publications/terminating-esop-valuation-fiduciary-issues-digital</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/about/donate/nceo-legacy-fund</loc><image:image><image:loc>https://www.nceo.org/hubfs/Legacy%20Fund%20transparent%20background.svg</image:loc><image:caption>LegacyFundtransparentbackground</image:caption><image:title>LegacyFundtransparentbackground</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/inline-images/Greg%20HEadshot%20from%20Joy%20cropped.jpg</image:loc><image:caption>GregHEadshotfromJoycropped</image:caption><image:title>GregHEadshotfromJoycropped</image:title></image:image><lastmod>2025-12-05</lastmod></url><url><loc>https://www.nceo.org/articles/how-esop-distributions-work-for-esop-participants-rules-and-guidance</loc><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/hero/public/uploaded-assets/hero-bg-images/pexels-fauxels-3183150.jpg</image:loc><image:caption>pexelsfauxels3183150</image:caption><image:title>pexelsfauxels3183150</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2025-06-30</lastmod></url><url><loc>https://www.nceo.org/publications/selling-esop-financing-deal</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/training/courses/selling-esop-financing-deal-digital</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/publications/leadership-development-succession-digital</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/research/data/gps-4-in-1</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/training/courses/esop-database-division-4</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/research/data/stock-options-book-digital</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/publications/beyond-engagement</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/training/courses/esop-401k-plan-employer-stock-litigation-review-digital</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/publications/national-esop-database</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/training/courses/retention-and-recruitment-survey</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-companies-sell-employees-non-voting-shares</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/how-will-s-corporation-distributions-be-allocated-in-an-s-corporation</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/articles/policy-options-state-employee-ownership-legislation</loc><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Blog_Banner.jpg</image:loc><image:caption>BlogBanner</image:caption><image:title>BlogBanner</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2026-06-16</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-legal-digest/author</loc><image:image><image:loc>https://www.nceo.org/hubfs/jara_jose_bio_new-default-headshot-photo-91765.jpg</image:loc><image:caption>jarajosebionewdefaultheadshotphoto91765</image:caption><image:title>jarajosebionewdefaultheadshotphoto91765</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/RP%20headshot.jpg</image:loc><image:caption>RPheadshot</image:caption><image:title>RPheadshot</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/25H4183-Lauren-Wood-Headshot.jpg</image:loc><image:caption>25H4183LaurenWoodHeadshot</image:caption><image:title>25H4183LaurenWoodHeadshot</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Corey-Rosen-150x150.jpg</image:loc><image:caption>CoreyRosen150x150</image:caption><image:title>CoreyRosen150x150</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Screenshot%202026-0b%20david%20joffe3-06%20102739.png</image:loc><image:caption>Screenshot20260bdavidjoffe306102739</image:caption><image:title>Screenshot20260bdavidjoffe306102739</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Tabitha-Croscut.webp</image:loc><image:caption>TabithaCroscut</image:caption><image:title>TabithaCroscut</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/wendy%20headshot.webp</image:loc><image:caption>wendyheadshot</image:caption><image:title>wendyheadshot</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Chris-W.jpg</image:loc><image:caption>ChrisW</image:caption><image:title>ChrisW</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Steiker_Jim.jpg</image:loc><image:caption>SteikerJim</image:caption><image:title>SteikerJim</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/kandel_alan_headshot_image_187872.png</image:loc><image:caption>kandelalanheadshotimage187872</image:caption><image:title>kandelalanheadshotimage187872</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Picture1.png</image:loc><image:caption>Picture1</image:caption><image:title>Picture1</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/griffin-ogara-copy1_1728070923.png</image:loc><image:caption>griffinogaracopy11728070923</image:caption><image:title>griffinogaracopy11728070923</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/profile%20pic%20aw.jpg</image:loc><image:caption>profilepicaw</image:caption><image:title>profilepicaw</image:title></image:image><lastmod>2025-11-03</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/how-much-is-enough-to-contribute-to-an-esop</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/member/document-library/sample-rfp-for-esop-trustee</loc><lastmod>2026-05-11</lastmod></url><url><loc>https://www.nceo.org/training/courses/s-corporation-esop-traps-unwary</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/are-s-corporation-distributions-passed-through-to-employees-in-an-s</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/research/data/repurchase-obligation-survey</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/research/employee-ownership-100-largest-employee-owned-companies</loc><image:image><image:loc>https://www.nceo.org/hubfs/2013_OGC_Tomato_Wars_0742.jpg</image:loc><image:caption>2013OGCTomatoWars0742</image:caption><image:title>2013OGCTomatoWars0742</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/EO%20100.png</image:loc><image:caption>EO100</image:caption><image:title>EO100</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2025-11-25</lastmod></url><url><loc>https://www.nceo.org/research/data/esops-corporate-governance-digital</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/articles/esop-vesting-distribution-diversification</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Blog_Banner.jpg</image:loc><image:caption>BlogBanner</image:caption><image:title>BlogBanner</image:title></image:image><lastmod>2024-12-16</lastmod></url><url><loc>https://www.nceo.org/publications/equity-compensation-limited-liability-companies-llcs</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/publications/decision-makers-guide-equity-compensation-digital</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/why-would-a-company-choose-preferred-stock-for-the-esop</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/training/courses/esop-database-division-3</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/research/data/terminating-esop-valuation-fiduciary-issues-digital</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/about/donate/bob-smiley-memorial-fund</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/hero/public/uploaded-assets/hero-bg-images/2013_OGC_Tomato_Wars_0742.jpg</image:loc><image:caption>2013OGCTomatoWars0742</image:caption><image:title>2013OGCTomatoWars0742</image:title></image:image><lastmod>2025-01-15</lastmod></url><url><loc>https://www.nceo.org/training/courses/s-corporation-esop-traps-unwary-digital</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/training/courses/sustainable-esops-digital</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/who-is-an-esop-fiduciary</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/member/directories</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/hero/public/uploaded-assets/hero-bg-images/ESOP%20map_0.jpg</image:loc><image:caption>ESOPmap0</image:caption><image:title>ESOPmap0</image:title></image:image><lastmod>2026-02-13</lastmod></url><url><loc>https://www.nceo.org/publications/s-corporation-esops</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-a-subchapter-s-corporation-have-an-esop-or-other-qualified</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/member/board-excellence-toolkit-and-candidate-directory</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2026-02-23</lastmod></url><url><loc>https://www.nceo.org/publications/accounting-leveraged-esop-transactions-digital</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/publications/s-corporation-esop-traps-unwary-digital</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/ownership-culture/ownership-culture-survey</loc><image:image><image:loc>https://www.nceo.org/hubfs/Clock-icon.png</image:loc><image:caption>Clockicon</image:caption><image:title>Clockicon</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/send-icon.png</image:loc><image:caption>sendicon</image:caption><image:title>sendicon</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/OCS%20report%20screenshot.png</image:loc><image:caption>OCSreportscreenshot</image:caption><image:title>OCSreportscreenshot</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/2013_OGC_Tomato_Wars_0742.jpg</image:loc><image:caption>2013OGCTomatoWars0742</image:caption><image:title>2013OGCTomatoWars0742</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Pricing%20icon.png</image:loc><image:caption>Pricingicon</image:caption><image:title>Pricingicon</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Pencil-paper-icon-1.png</image:loc><image:caption>Pencilpapericon1</image:caption><image:title>Pencilpapericon1</image:title></image:image><lastmod>2026-03-09</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/when-an-s-corporation-makes-distributions-to-an-esop-what-can</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/research/data/esop-database-division-7</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/do-closely-held-companies-that-allow-employees-to-buy-stock-in</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-employees-demand-stock-in-the-employer-when-an-esop-is</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/publications/introduction-esops</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/events</loc><image:image><image:loc>https://www.nceo.org/hubfs/SP%20Webinar%20Hubspot%20Featured%20Image%20Graphic%20(2)-1.png</image:loc><image:caption>SPWebinarHubspotFeaturedImageGraphic21</image:caption><image:title>SPWebinarHubspotFeaturedImageGraphic21</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Hubspot%20Featured%20Image%20Graphic%20(2)-1.jpg</image:loc><image:caption>HubspotFeaturedImageGraphic21</image:caption><image:title>HubspotFeaturedImageGraphic21</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Hubspot%20Featured%20Image%20Graphic-Jan-15-2026-08-41-21-7799-PM.png</image:loc><image:caption>HubspotFeaturedImageGraphicJan1520260841217799PM</image:caption><image:title>HubspotFeaturedImageGraphicJan1520260841217799PM</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Live%20Events.svg</image:loc><image:caption>LiveEvents</image:caption><image:title>LiveEvents</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/forum-og-2.jpg</image:loc><image:caption>forumog2</image:caption><image:title>forumog2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Past%20Webinars.svg</image:loc><image:caption>PastWebinars</image:caption><image:title>PastWebinars</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Hubspot%20Featured%20Image%20Graphic%20(1)-1.jpg</image:loc><image:caption>HubspotFeaturedImageGraphic11</image:caption><image:title>HubspotFeaturedImageGraphic11</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Upcoming_event.svg</image:loc><image:caption>Upcomingevent</image:caption><image:title>Upcomingevent</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Weekly%20Webinar%20Hubspot%20Featured%20Image%20Graphic%20(3).png</image:loc><image:caption>WeeklyWebinarHubspotFeaturedImageGraphic3</image:caption><image:title>WeeklyWebinarHubspotFeaturedImageGraphic3</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/skyline-salt-lake-city-utah-VISITSLC0917-23e5c1b45f25400e942180dba63abc1f-1.jpg</image:loc><image:caption>skylinesaltlakecityutahVISITSLC091723e5c1b45f25400e942180dba63abc1f1</image:caption><image:title>skylinesaltlakecityutahVISITSLC091723e5c1b45f25400e942180dba63abc1f1</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Light_Bulb.svg</image:loc><image:caption>LightBulb</image:caption><image:title>LightBulb</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/OIA.png</image:loc><image:caption>OIA</image:caption><image:title>OIA</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Hubspot%20Featured%20Image%20Graphic-3.jpg</image:loc><image:caption>HubspotFeaturedImageGraphic3</image:caption><image:title>HubspotFeaturedImageGraphic3</image:title></image:image><lastmod>2025-06-10</lastmod></url><url><loc>https://www.nceo.org/articles/ownership-edge-esop-company</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2024-10-24</lastmod></url><url><loc>https://www.nceo.org/articles/open-book-management</loc><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Blog_Banner.jpg</image:loc><image:caption>BlogBanner</image:caption><image:title>BlogBanner</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2024-12-19</lastmod></url><url><loc>https://www.nceo.org/research/data/selected-issues-equity-compensation-digital</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/research/data/sustainable-esops</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/training/courses/sustainable-esops</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/when-companies-have-multiple-plans-do-allocation-limit-procedures-have-to</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/articles/esop-tax-incentives-contribution-limits</loc><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/hero/public/uploaded-assets/hero-bg-images/pexels-fauxels-3183150.jpg</image:loc><image:caption>pexelsfauxels3183150</image:caption><image:title>pexelsfauxels3183150</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2025-06-30</lastmod></url><url><loc>https://www.nceo.org/research/data/esop-communications-sourcebook-digital</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/events/all-upcoming-events</loc><image:image><image:loc>https://www.nceo.org/hubfs/SP%20Webinar%20Hubspot%20Featured%20Image%20Graphic%20(2)-1.png</image:loc><image:caption>SPWebinarHubspotFeaturedImageGraphic21</image:caption><image:title>SPWebinarHubspotFeaturedImageGraphic21</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/skyline-salt-lake-city-utah-VISITSLC0917-23e5c1b45f25400e942180dba63abc1f-1.jpg</image:loc><image:caption>skylinesaltlakecityutahVISITSLC091723e5c1b45f25400e942180dba63abc1f1</image:caption><image:title>skylinesaltlakecityutahVISITSLC091723e5c1b45f25400e942180dba63abc1f1</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Weekly%20Webinar%20Hubspot%20Featured%20Image%20Graphic%20(3).png</image:loc><image:caption>WeeklyWebinarHubspotFeaturedImageGraphic3</image:caption><image:title>WeeklyWebinarHubspotFeaturedImageGraphic3</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Upcoming_event.svg</image:loc><image:caption>Upcomingevent</image:caption><image:title>Upcomingevent</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Hubspot%20Featured%20Image%20Graphic-Jan-15-2026-08-41-21-7799-PM.png</image:loc><image:caption>HubspotFeaturedImageGraphicJan1520260841217799PM</image:caption><image:title>HubspotFeaturedImageGraphicJan1520260841217799PM</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2026-07-14</lastmod></url><url><loc>https://www.nceo.org</loc><image:image><image:loc>https://www.nceo.org/hubfs/2026%20ESOP%20Recruitment%20and%20Retention%20Survey%20Repor%20cover-1.png</image:loc><image:caption>2026ESOPRecruitmentandRetentionSurveyReporcover1</image:caption><image:title>2026ESOPRecruitmentandRetentionSurveyReporcover1</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Overlay_Image.png</image:loc><image:caption>OverlayImage</image:caption><image:title>OverlayImage</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Upcoming_event.svg</image:loc><image:caption>Upcomingevent</image:caption><image:title>Upcomingevent</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/si-phxgp-downtown-phoenix-arizona-20142_Classic-Hor.jpg</image:loc><image:caption>siphxgpdowntownphoenixarizona20142ClassicHor</image:caption><image:title>siphxgpdowntownphoenixarizona20142ClassicHor</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/State%20Center%20Reps-1.jpg</image:loc><image:caption>StateCenterReps1</image:caption><image:title>StateCenterReps1</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Hero.jpg</image:loc><image:caption>Hero</image:caption><image:title>Hero</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/CTA%20Background%201.png</image:loc><image:caption>CTABackground1</image:caption><image:title>CTABackground1</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/SP%20Webinar%20Hubspot%20Featured%20Image%20Graphic%20(2)-1.png</image:loc><image:caption>SPWebinarHubspotFeaturedImageGraphic21</image:caption><image:title>SPWebinarHubspotFeaturedImageGraphic21</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Trending.svg</image:loc><image:caption>Trending</image:caption><image:title>Trending</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Weekly%20Webinar%20Hubspot%20Featured%20Image%20Graphic%20(3).png</image:loc><image:caption>WeeklyWebinarHubspotFeaturedImageGraphic3</image:caption><image:title>WeeklyWebinarHubspotFeaturedImageGraphic3</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/RResources.svg</image:loc><image:caption>RResources</image:caption><image:title>RResources</image:title></image:image><lastmod>2026-06-16</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/if-options-to-acquire-shares-with-additional-or-extra-voting-rights</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/research/data/acquisition-strategies-esop-companies</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/member/add-or-update-your-service-provider-directory-listing</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2026-02-12</lastmod></url><url><loc>https://www.nceo.org/publications/sustainable-esops</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/training/courses/esop-company-board-handbook</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/training/courses/direct-employee-ownership-digital</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/training/courses/leadership-development-succession-digital</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/member-peer-networking-opportunities/large-workforce-esop-company-network</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Leadership.jpg</image:loc><image:caption>Leadership</image:caption><image:title>Leadership</image:title></image:image><lastmod>2026-01-07</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/if-a-seller-has-some-basis-in-the-stock-that-is</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/esop-ceo-program-at-university-of-pennsylvania</loc><image:image><image:loc>https://www.nceo.org/hubfs/_DSC3485.jpg</image:loc><image:caption>DSC3485</image:caption><image:title>DSC3485</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/_DSC3977.jpg</image:loc><image:caption>DSC3977</image:caption><image:title>DSC3977</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/_DSC3089.jpg</image:loc><image:caption>DSC3089</image:caption><image:title>DSC3089</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2026-04-28</lastmod></url><url><loc>https://www.nceo.org/research/data/responding-acquisition-offers-esop-companies-digital</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-should-a-plan-sponsor-do-when-it-cannot-find-a-former-participant</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/publications/online-esop-training</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-is-meant-by-synthetic-equity-for-purposes-of-s-corporation</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/the-download-april-2026-spanish</loc><image:image><image:loc>https://www.nceo.org/hubfs/April%202026%20Download_Screenshot%20Spanish.png</image:loc><image:caption>April2026DownloadScreenshotSpanish</image:caption><image:title>April2026DownloadScreenshotSpanish</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Blog_Banner.jpg</image:loc><image:caption>BlogBanner</image:caption><image:title>BlogBanner</image:title></image:image><lastmod>2026-04-30</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-voting-rights-do-esop-participants-have</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/how-much-does-setting-up-an-esop-cost</loc><lastmod>2026-06-25</lastmod></url><url><loc>https://www.nceo.org/training/courses/accounting-leveraged-esop-transactions-digital</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/resource-toolkits/being-acquired-esop-company-toolkit</loc><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Blog_Banner.jpg</image:loc><image:caption>BlogBanner</image:caption><image:title>BlogBanner</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2025-07-18</lastmod></url><url><loc>https://www.nceo.org/research/data/beyond-engagement-digital</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/articles/red-flags-esop-transactions</loc><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/hero/public/uploaded-assets/hero-bg-images/pexels-fauxels-3183150.jpg</image:loc><image:caption>pexelsfauxels3183150</image:caption><image:title>pexelsfauxels3183150</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2026-06-16</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/how-does-stock-get-released-from-an-esop-suspense-account</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/research/data/decision-makers-guide-equity-compensation</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/training/courses/best-practices-esop-401k-combinations-digital</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/publications/executive-director-compensation-esop-companies</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-funds-from-other-retirement-funds-be-used-for-an-esop</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/tax-benefits-available-to-an-s-vs-c-corp-esop</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/who-is-required-to-be-eligible-to-diversify-holdings-in-an</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/research/sign-up-to-receive-nceo-research-survey-invitations</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/hero/public/uploaded-assets/hero-bg-images/Research.jpg</image:loc><image:caption>Research</image:caption><image:title>Research</image:title></image:image><lastmod>2025-06-12</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/how-would-a-sale-to-an-employee-ownership-trust-be-financed</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/member/document-library/sample-data-request-for-repurchase-study</loc><lastmod>2026-05-11</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/how-is-stock-allocated-in-an-esop</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/research/data/esop-database-division-6</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/publications/esop-401k-plan-employer-stock-litigation-review</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/publications/inside-esop-fiduciary-handbook-digital</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/member/esop-finance-toolkit-and-lender-directory</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2025-09-25</lastmod></url><url><loc>https://www.nceo.org/publications/esop-regulatory-rulings</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/research/data/executive-director-compensation-esop-companies</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/research/data/ownership-tale</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/research/data/esop-database-construction</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/member/document-library/communicating-the-now-of-employee-ownership</loc><lastmod>2026-05-11</lastmod></url><url><loc>https://www.nceo.org/research/data/esop-401k-plan-employer-stock-litigation-review</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/when-an-esop-repurchases-shares-from-departing-employees-does-this-have</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/about/advice-and-speaking-services</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Hero%20Images/NCEO%20Day%202-033%20(2).jpg</image:loc><image:caption>NCEODay20332</image:caption><image:title>NCEODay20332</image:title></image:image><lastmod>2025-01-07</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-if-the-department-of-labor-dol-finds-a-problem-with</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/for-allocations-deductions-distributions-and-esop-purchases-when-stock-valued</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/acquisitive-esop-directory</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Multicolored%20geometric%20mosaic%20of%20solid%20squares%20(some%20with%20dividers)%20and%20random%20gaps%2c%20with%20a%20scattering%20of%20small%20black%20dots%2c%20on%20dark%20blue%20background%2c%20for%20tiled%20art%20deco%20effect.jpeg</image:loc><image:caption>Multicoloredgeometricmosaicofsolidsquaressomewithdividersandrandomgapswithascatteringofsmallblackdotsondarkbluebackgroundfortiledartdecoeffect</image:caption><image:title>Multicoloredgeometricmosaicofsolidsquaressomewithdividersandrandomgapswithascatteringofsmallblackdotsondarkbluebackgroundfortiledartdecoeffect</image:title></image:image><lastmod>2026-06-16</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-funds-from-a-defined-benefit-plan-be-used-to-fund</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq</loc><image:image><image:loc>https://www.nceo.org/hubfs/Close-up%20dark%20keyboard%20with%20cyber%20security%20concept.jpeg</image:loc><image:caption>Closeupdarkkeyboardwithcybersecurityconcept</image:caption><image:title>Closeupdarkkeyboardwithcybersecurityconcept</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/articles/beyond-rainbows-and-unicorns-case-talking-about-esop-companies-businesses</loc><image:image><image:loc>https://www.nceo.org/hubfs/Walking%20Thumbs%20Up.jpg</image:loc><image:caption>WalkingThumbsUp</image:caption><image:title>WalkingThumbsUp</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2025-09-10</lastmod></url><url><loc>https://www.nceo.org/research/data/esop-communication-committee-guide</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/publications/esop-corporate-governance-survey</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/training/courses/executive-director-compensation-esop-companies</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/training/courses/executive-director-compensation-esop-companies-digital</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/publications/equity-alternatives-phantom-stock-sars-restricted-stock-performance-awards</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/how-do-most-companies-handle-esop-repurchase-obligations</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/publications/best-practices-esop-401k-combinations-digital</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/what-is-employee-ownership/start-here-using-esop-buy-out-owners</loc><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/hero/public/uploaded-assets/hero-bg-images/pexels-fauxels-3183150.jpg</image:loc><image:caption>pexelsfauxels3183150</image:caption><image:title>pexelsfauxels3183150</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2025-06-12</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/esop-refinance-reallocate-shares</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-an-esop-be-financed-by-a-line-of-credit</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/difference-between-valuation-and-fairness-opinion-esop</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/training/courses/esop-database-division-2</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-an-s-esop-company-make-distributions-just-to-people-over</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/what-is-employee-ownership/state-legislation-esops-employee-ownership</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/hero/public/uploaded-assets/hero-bg-images/pexels-fauxels-3183150.jpg</image:loc><image:caption>pexelsfauxels3183150</image:caption><image:title>pexelsfauxels3183150</image:title></image:image><lastmod>2026-06-09</lastmod></url><url><loc>https://www.nceo.org/research/data/esops-corporate-governance</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-the-esop-distribution-rules-be-changed-later</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/training</loc><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/uploaded-assets/hero-bg-images/Sessions_Engaged.jpg</image:loc><image:caption>SessionsEngaged</image:caption><image:title>SessionsEngaged</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/An-Interactive-Introduction-composite-for-training-page-2706x1204-24bit-1-2026.png</image:loc><image:caption>AnInteractiveIntroductiontoESOPs2026</image:caption><image:title>AnInteractiveIntroductioncompositefortrainingpage2706x120424bit12026</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Equity_Compensation.jpg</image:loc><image:caption>EquityCompensation</image:caption><image:title>EquityCompensation</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/PDA_NCEO_Corporate_Governance_training.jpg</image:loc><image:caption>PDANCEOCorporateGovernancetraining</image:caption><image:title>PDANCEOCorporateGovernancetraining</image:title></image:image><lastmod>2026-06-17</lastmod></url><url><loc>https://www.nceo.org/researchfund</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Blog_Banner.jpg</image:loc><image:caption>BlogBanner</image:caption><image:title>BlogBanner</image:title></image:image><lastmod>2024-12-24</lastmod></url><url><loc>https://www.nceo.org/research/data/esop-corporate-governance-survey</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/is-there-a-way-to-contribute-more-than-25-of-pay-leveraged-esop</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/training/courses/dol-fiduciary-process-agreements-esop-transactions-digital</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/resource-toolkits/being-acquired-esop-company-toolkit/structuring-sale-existing-esop</loc><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/hero/public/uploaded-assets/hero-bg-images/pexels-fauxels-3183150.jpg</image:loc><image:caption>pexelsfauxels3183150</image:caption><image:title>pexelsfauxels3183150</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2025-06-12</lastmod></url><url><loc>https://www.nceo.org/assistant-secretary-lisa-m-gomez-and-steve-storkan-conversation</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2025-06-11</lastmod></url><url><loc>https://www.nceo.org/publications/dol-fiduciary-process-agreements-esop-transactions-digital</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/move-segregated-esop-accounts-into-a-401k-plan</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/what-is-employee-ownership/esops/esops-s-corporations</loc><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/hero/public/uploaded-assets/hero-bg-images/pexels-fauxels-3183150.jpg</image:loc><image:caption>pexelsfauxels3183150</image:caption><image:title>pexelsfauxels3183150</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2026-06-25</lastmod></url><url><loc>https://www.nceo.org/about/donate/greg-brown-memorial-fund</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/hero/public/uploaded-assets/hero-bg-images/2013_OGC_Tomato_Wars_0742.jpg</image:loc><image:caption>2013OGCTomatoWars0742</image:caption><image:title>2013OGCTomatoWars0742</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/inline-images/Greg%20HEadshot%20from%20Joy%20cropped.jpg</image:loc><image:caption>GregHEadshotfromJoycropped</image:caption><image:title>GregHEadshotfromJoycropped</image:title></image:image><lastmod>2025-01-15</lastmod></url><url><loc>https://www.nceo.org/research/data/esop-repurchase-obligation-handbook</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/cepi-books-exam-prep</loc><image:image><image:loc>https://www.nceo.org/hubfs/CEPI-book-collage-2026-for-social-1200x627.jpg</image:loc><image:caption>2026CEPItexts</image:caption><image:title>CEPIbookcollage2026forsocial1200x627</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/uploaded-assets/hero-bg-images/Stock-market-data-for-CEPI-page-1920x1280.jpg</image:loc><image:caption>StockmarketdataforCEPIpage1920x1280</image:caption><image:title>StockmarketdataforCEPIpage1920x1280</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2026-03-19</lastmod></url><url><loc>https://www.nceo.org/member-peer-networking-opportunities/eo-board-directors-peer-network</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Readytalk%203.jpg</image:loc><image:caption>Readytalk3</image:caption><image:title>Readytalk3</image:title></image:image><lastmod>2026-03-31</lastmod></url><url><loc>https://www.nceo.org/training/courses/esop-database-division-1</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/publications/terminating-esop-valuation-fiduciary-issues</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/research/data/inside-esop-fiduciary-handbook</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/research/data/s-corporation-esops-digital</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-contributions-to-another-plan-be-used-to-offset-esop</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/training/courses/innovative-esop-transaction-structures-digital</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/about/whos-who-in-esops-and-employee-ownership</loc><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/uploaded-assets/hero-bg-images/esop-filings-nceo.jpg</image:loc><image:caption>esopfilingsnceo</image:caption><image:title>esopfilingsnceo</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2026-01-13</lastmod></url><url><loc>https://www.nceo.org/member/document-library/esop-fiduciary-administrative-committee-workbook</loc><lastmod>2026-05-11</lastmod></url><url><loc>https://www.nceo.org/articles/restricted-stock-direct-stock-purchase-plans</loc><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Blog_Banner.jpg</image:loc><image:caption>BlogBanner</image:caption><image:title>BlogBanner</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2024-12-19</lastmod></url><url><loc>https://www.nceo.org/research/data/national-esop-database</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/research/data/esop-communication-committee-guide-digital</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/articles/case-study-cimarron-trailers</loc><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Blog_Banner.jpg</image:loc><image:caption>BlogBanner</image:caption><image:title>BlogBanner</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2025-06-30</lastmod></url><url><loc>https://www.nceo.org/about/staff</loc><image:image><image:loc>https://www.nceo.org/hubfs/Nate_Nickolson.jpg</image:loc><image:caption>NateNickolson</image:caption><image:title>NateNickolson</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Rodgers%2c%20Loren_400%20px%20wide-1.jpg</image:loc><image:caption>RodgersLoren400pxwide1</image:caption><image:title>RodgersLoren400pxwide1</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Kimberly%20McCourtney_crop.jpg</image:loc><image:caption>KimberlyMcCourtneycrop</image:caption><image:title>KimberlyMcCourtneycrop</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/drea%20headshot.png</image:loc><image:caption>dreaheadshot</image:caption><image:title>dreaheadshot</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/inline-images/Scott-Rodrick-7_28_2015-closeup-100px.jpg</image:loc><image:caption>ScottRodrick7282015closeup100px</image:caption><image:title>ScottRodrick7282015closeup100px</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/image.png</image:loc><image:caption>image</image:caption><image:title>image</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Eva%20Updated%20Headshot.jpeg</image:loc><image:caption>EvaUpdatedHeadshot</image:caption><image:title>EvaUpdatedHeadshot</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/thumbnail/public/person-photos/Corey-Rosen-2_24_2017-100px.jpg</image:loc><image:caption>CoreyRosen2242017100px</image:caption><image:title>CoreyRosen2242017100px</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/person-photos/Michelle-Cronin.png</image:loc><image:caption>MichelleCronin</image:caption><image:title>MichelleCronin</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/IMG_4475%20(1).jpg</image:loc><image:caption>IMG44751</image:caption><image:title>IMG44751</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/person-photos/Jaymie-Oviedo_10-15-2020_200x200.jpg</image:loc><image:caption>JaymieOviedo10152020200x200</image:caption><image:title>JaymieOviedo10152020200x200</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Jennifer%20Lopez-0006%20cropped.jpg</image:loc><image:caption>JenniferLopez0006cropped</image:caption><image:title>JenniferLopez0006cropped</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/thumbnail/public/person-photos/Maddy%20Hammack.jpg</image:loc><image:caption>MaddyHammack</image:caption><image:title>MaddyHammack</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/thumbnail/public/person-photos/Suzanne-Vinson-headshot-3-2023-600x888.jpg</image:loc><image:caption>SuzanneVinsonheadshot32023600x888</image:caption><image:title>SuzanneVinsonheadshot32023600x888</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/MariaLianosHeadshot-1.jpg</image:loc><image:caption>MariaLianosHeadshot1</image:caption><image:title>MariaLianosHeadshot1</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/RRB%20headshot%202025.png</image:loc><image:caption>RRBheadshot2025</image:caption><image:title>RRBheadshot2025</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/person-photos/Jessica-Castro-200x200.jpg</image:loc><image:caption>JessicaCastro200x200</image:caption><image:title>JessicaCastro200x200</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Nancy%20Wiefek%20portrait.webp</image:loc><image:caption>NancyWiefekportrait</image:caption><image:title>NancyWiefekportrait</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/thumbnail/public/person-photos/Nan%20pic%205.jpg</image:loc><image:caption>Nanpic5</image:caption><image:title>Nanpic5</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/thumbnail/public/person-photos/MB%20Headshot.jpg</image:loc><image:caption>MBHeadshot</image:caption><image:title>MBHeadshot</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/person-photos/nick-gehring%20(1).png</image:loc><image:caption>nickgehring1</image:caption><image:title>nickgehring1</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Graeme%20Nuttall%20headshot.jpg</image:loc><image:caption>GraemeNuttallheadshot</image:caption><image:title>GraemeNuttallheadshot</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Matt%20copy%20cropped%204.jpeg</image:loc><image:caption>Mattcopycropped4</image:caption><image:title>Mattcopycropped4</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Liza%20Shifrin-0012.jpg</image:loc><image:caption>LizaShifrin0012</image:caption><image:title>LizaShifrin0012</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/thumbnail/public/person-photos/Tim%202022%20Headshot.png</image:loc><image:caption>Tim2022Headshot</image:caption><image:title>Tim2022Headshot</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/GD%20headshot%202024.png</image:loc><image:caption>GDheadshot2024</image:caption><image:title>GDheadshot2024</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/person-photos/LI%20Webinar%20Headshot.jpg</image:loc><image:caption>LIWebinarHeadshot</image:caption><image:title>LIWebinarHeadshot</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/person-photos/Francesca%20Santos%20headshot.jpeg</image:loc><image:caption>FrancescaSantosheadshot</image:caption><image:title>FrancescaSantosheadshot</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Richmond_Headshot.jpg</image:loc><image:caption>RichmondHeadshot</image:caption><image:title>RichmondHeadshot</image:title></image:image><lastmod>2025-06-11</lastmod></url><url><loc>https://www.nceo.org/publications/inside-esop-fiduciary-handbook</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/training/courses/stock-options-book</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/training/courses/terminating-esop-valuation-fiduciary-issues-digital</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-are-the-pros-and-cons-of-a-self-financed-esop</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/research/data/direct-employee-ownership</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/publications/esop-communications-sourcebook-digital</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/is-the-trust-a-taxable-entity-in-an-employee-ownership-trust</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/member/document-library/questions-for-potential-acquirers</loc><lastmod>2026-05-11</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-is-corporate-owned-life-insurance-coli-and-is-it-a</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/publications/responding-acquisition-offers-esop-companies-digital</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/publications/esop-database-division-6</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/research/data/understanding-esops-digital</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/employee-has-a-put-option-with-two-windows</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-is-a-cap-closing-agreement-program</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/the-download-february-2026-spanish</loc><image:image><image:loc>https://www.nceo.org/hubfs/Feb%202026%20Download_Screenshot%20Spanish.png</image:loc><image:caption>Feb2026DownloadScreenshotSpanish</image:caption><image:title>Feb2026DownloadScreenshotSpanish</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Blog_Banner.jpg</image:loc><image:caption>BlogBanner</image:caption><image:title>BlogBanner</image:title></image:image><lastmod>2026-02-27</lastmod></url><url><loc>https://www.nceo.org/research/data/esop-database-division-5</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/research/data/accounting-equity-compensation-digital</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/contact-us</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/hero/public/uploaded-assets/hero-bg-images/Attendee%20using%20laptop%20&amp;%20phone.jpg</image:loc><image:caption>Attendeeusinglaptopphone</image:caption><image:title>Attendeeusinglaptopphone</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/NCEO-LOGO_Horz_color%20(2).png</image:loc><image:caption>NCEOLOGOHorzcolor2</image:caption><image:title>NCEOLOGOHorzcolor2</image:title></image:image><lastmod>2026-01-02</lastmod></url><url><loc>https://www.nceo.org/publications/esops-corporate-governance-digital</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/publications/leadership-development-succession</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-are-the-options-for-esop-companies-for-shares-repurchased-from</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/training/courses/accounting-equity-compensation-digital</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/does-the-esop-fiduciary-have-a-role-with-respect-to-normal-business-operations</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/are-standard-severance-and-or-change-of-control-payments-in-an-employment</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-distributions-paid-on-s-corporation-esop-shares-be-directly-rolled</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-company-sell-shares-in-the-esop-to-repay-esop-loan</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/publications/warrants-esop-transactions-digital</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/publications/esop-regulatory-rulings-digital</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/service-provider-directory</loc><image:image><image:loc>https://www.nceo.org/hubfs/Multicolored%20geometric%20mosaic%20of%20solid%20squares%20(some%20with%20dividers)%20and%20random%20gaps%2c%20with%20a%20scattering%20of%20small%20black%20dots%2c%20on%20dark%20blue%20background%2c%20for%20tiled%20art%20deco%20effect.jpeg</image:loc><image:caption>Multicoloredgeometricmosaicofsolidsquaressomewithdividersandrandomgapswithascatteringofsmallblackdotsondarkbluebackgroundfortiledartdecoeffect</image:caption><image:title>Multicoloredgeometricmosaicofsolidsquaressomewithdividersandrandomgapswithascatteringofsmallblackdotsondarkbluebackgroundfortiledartdecoeffect</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2026-07-07</lastmod></url><url><loc>https://www.nceo.org/research/data/using-employee-ownership-trust-business-transition-digital</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-can-be-done-to-repair-plan-operational-errors-subject-to</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-is-the-effect-of-other-equity-investors-on-an-esop</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/training/courses/best-practices-esop-401k-combinations</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-reports-must-be-filed-with-esop-participants</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/the-download-january-2026-spanish</loc><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Blog_Banner.jpg</image:loc><image:caption>BlogBanner</image:caption><image:title>BlogBanner</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2026-01-28</lastmod></url><url><loc>https://www.nceo.org/articles/should-esop-trusts-hold-cash</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Blog_Banner.jpg</image:loc><image:caption>BlogBanner</image:caption><image:title>BlogBanner</image:title></image:image><lastmod>2024-12-19</lastmod></url><url><loc>https://www.nceo.org/training/courses/selling-esop-financing-deal</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/research/data/fiduciarys-guide-esop-valuation-digital</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/training/courses/fiduciarys-guide-esop-valuation-digital</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-an-employee-ownership-trust-eot-be-set-up-in-an</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/publications/direct-employee-ownership-digital</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/options-for-distributions-of-an-esop-account</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/research/data/understanding-esops</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/publications/buyers-guide-insurance-fiduciaries-esops-other-benefit-plans-digital</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/research/data/dol-fiduciary-process-agreements-esop-transactions</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/exceptions-to-1042-excise-esop</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-sellers-use-their-qualified-replacement-property-investments-as-collateral</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/research/data/buyers-guide-insurance-fiduciaries-esops-other-benefit-plans-digital</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/articles/how-to-choose-an-employee-stock-plan</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/hero/public/uploaded-assets/hero-bg-images/pexels-fauxels-3183150.jpg</image:loc><image:caption>pexelsfauxels3183150</image:caption><image:title>pexelsfauxels3183150</image:title></image:image><lastmod>2026-06-16</lastmod></url><url><loc>https://www.nceo.org/publications/responding-acquisition-offers-esop-companies</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/publications/banks-esop-sponsors</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-blog</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2025-06-06</lastmod></url><url><loc>https://www.nceo.org/publications/equity-compensation-limited-liability-companies-llcs-digital</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-counts-as-eligible-pay-or-eligible-compensation-esop</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/member/board-candidate-directory-application</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2026-02-12</lastmod></url><url><loc>https://www.nceo.org/careers/job-opening-marketing-director</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Blog_Banner.jpg</image:loc><image:caption>BlogBanner</image:caption><image:title>BlogBanner</image:title></image:image><lastmod>2026-07-08</lastmod></url><url><loc>https://www.nceo.org/research/data/responding-acquisition-offers-esop-companies</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/continuing-education-credits-meeting-webinar</loc><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/inline-images/NASBA_CPERegistry_logo_color_transparent.png</image:loc><image:caption>NASBACPERegistrylogocolortransparent</image:caption><image:title>NASBACPERegistrylogocolortransparent</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/SHRM%20recertification%20provider%20logo.png</image:loc><image:caption>SHRMrecertificationproviderlogo</image:caption><image:title>SHRMrecertificationproviderlogo</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/inline-images/IRS_CE_Provider_Logo_Color%202018.jpg</image:loc><image:caption>IRSCEProviderLogoColor2018</image:caption><image:title>IRSCEProviderLogoColor2018</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Blog_Banner.jpg</image:loc><image:caption>BlogBanner</image:caption><image:title>BlogBanner</image:title></image:image><lastmod>2025-09-22</lastmod></url><url><loc>https://www.nceo.org/member/document-library/board-of-directors-onboarding-checklist</loc><lastmod>2026-05-11</lastmod></url><url><loc>https://www.nceo.org/training/courses/decision-makers-guide-equity-compensation</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/publications/ownership-tale</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-librarian</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/ESOP%20Librarian%20logo-2.svg</image:loc><image:caption>ESOPLibrarianlogo2</image:caption><image:title>ESOPLibrarianlogo2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Research_Banner.png</image:loc><image:caption>ResearchBanner</image:caption><image:title>ResearchBanner</image:title></image:image><lastmod>2025-06-26</lastmod></url><url><loc>https://www.nceo.org/training/courses/understanding-esops</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/training/courses/creating-sustainable-esop-distribution-policy</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/training/courses/dont-do-that-your-esop-digital</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/articles/multiple-bottom-lines-employee-ownership-and-benefit-corporations</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Hero%20Images/People%20Walking.jpg</image:loc><image:caption>PeopleWalking</image:caption><image:title>PeopleWalking</image:title></image:image><lastmod>2024-12-19</lastmod></url><url><loc>https://www.nceo.org/research/data/esop-company-board-handbook</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/member/document-library/sample-board-policy-responding-to-acquisition-offers</loc><lastmod>2026-06-08</lastmod></url><url><loc>https://www.nceo.org/training/courses/esop-database-construction</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/member/the-download</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2026-04-30</lastmod></url><url><loc>https://www.nceo.org/articles/reasons-esop</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/hero/public/uploaded-assets/hero-bg-images/pexels-fauxels-3183150.jpg</image:loc><image:caption>pexelsfauxels3183150</image:caption><image:title>pexelsfauxels3183150</image:title></image:image><lastmod>2026-06-30</lastmod></url><url><loc>https://www.nceo.org/resource-toolkits/being-acquired-esop-company-toolkit/integrating-two-companies-case-study-firstar-precision</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/hero/public/uploaded-assets/hero-bg-images/pexels-fauxels-3183150.jpg</image:loc><image:caption>pexelsfauxels3183150</image:caption><image:title>pexelsfauxels3183150</image:title></image:image><lastmod>2025-09-09</lastmod></url><url><loc>https://www.nceo.org/articles/supreme-court-dudenhoeffer-esops</loc><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Blog_Banner.jpg</image:loc><image:caption>BlogBanner</image:caption><image:title>BlogBanner</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2025-05-05</lastmod></url><url><loc>https://www.nceo.org/research/data/stock-options-book</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-are-the-dol-greatbanc-agreement-other-process-s-agreements-and</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/training/courses/acquisition-strategies-esop-companies</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/member/board-candidate-directory</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2025-10-02</lastmod></url><url><loc>https://www.nceo.org/ownership-culture</loc><image:image><image:loc>https://www.nceo.org/hubfs/maxresdefault.jpg</image:loc><image:caption>maxresdefault</image:caption><image:title>maxresdefault</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Play_Btn.png</image:loc><image:caption>PlayBtn</image:caption><image:title>PlayBtn</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Image_Underlay.png</image:loc><image:caption>ImageUnderlay</image:caption><image:title>ImageUnderlay</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Effective%20ESOP%20Culture.png</image:loc><image:caption>EffectiveESOPCulture</image:caption><image:title>EffectiveESOPCulture</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/2013_OGC_Tomato_Wars_0742.jpg</image:loc><image:caption>2013OGCTomatoWars0742</image:caption><image:title>2013OGCTomatoWars0742</image:title></image:image><lastmod>2025-09-12</lastmod></url><url><loc>https://www.nceo.org/what-is-employee-ownership/esops-employee-owners</loc><image:image><image:loc>https://www.nceo.org/hubfs/NCEO_August2022/Images/Blog_Banner.jpg</image:loc><image:caption>BlogBanner</image:caption><image:title>BlogBanner</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2026-06-26</lastmod></url><url><loc>https://www.nceo.org/member-peer-networking-opportunities/esop-ceo-network</loc><image:image><image:loc>https://www.nceo.org/hubfs/Leadership.jpg</image:loc><image:caption>Leadership</image:caption><image:title>Leadership</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/CEO%20Network%20image.png</image:loc><image:caption>CEONetworkimage</image:caption><image:title>CEONetworkimage</image:title></image:image><lastmod>2026-06-26</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/if-an-s-esop-owns-less-than-100-of-the-shares</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/training/courses/leadership-development-succession</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/publications/esop-database-wholesale-retail</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/what-is-employee-ownership/creating-new-esop-vs-selling-existing-esop</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/hero/public/uploaded-assets/hero-bg-images/pexels-fauxels-3183150.jpg</image:loc><image:caption>pexelsfauxels3183150</image:caption><image:title>pexelsfauxels3183150</image:title></image:image><lastmod>2025-06-12</lastmod></url><url><loc>https://www.nceo.org/publications/esop-database-division-7</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/acquisitive-esop-directory-intake</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2025-07-07</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-an-employee-get-net-unrealized-appreciation-tax-treatment-on-distributions</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/research/data/esop-database-division-4</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/articles/401k-plans-employee-ownership-esops</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/hero/public/uploaded-assets/hero-bg-images/pexels-fauxels-3183150.jpg</image:loc><image:caption>pexelsfauxels3183150</image:caption><image:title>pexelsfauxels3183150</image:title></image:image><lastmod>2025-09-10</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/how-do-employees-benefit-from-an-employee-ownership-trust</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-a-company-have-a-longer-term-for-its-inside-esop</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/articles/valuation-discounts-esops</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/hero/public/uploaded-assets/hero-bg-images/pexels-fauxels-3183150.jpg</image:loc><image:caption>pexelsfauxels3183150</image:caption><image:title>pexelsfauxels3183150</image:title></image:image><lastmod>2024-12-17</lastmod></url><url><loc>https://www.nceo.org/about/board</loc><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/person-photos/Briggs_Jennifer_135_012320061650.jpg</image:loc><image:caption>BriggsJennifer135012320061650</image:caption><image:title>BriggsJennifer135012320061650</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/thumbnail/public/person-photos/Donald%20Romine.jpg</image:loc><image:caption>DonaldRomine</image:caption><image:title>DonaldRomine</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Corey-Rosen-2_24_2017-100px.jpg</image:loc><image:caption>CoreyRosen2242017100px</image:caption><image:title>CoreyRosen2242017100px</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/person-photos/Markowitz-Dan.jpg</image:loc><image:caption>MarkowitzDan</image:caption><image:title>MarkowitzDan</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/person-photos/Michelle-Cronin.png</image:loc><image:caption>MichelleCronin</image:caption><image:title>MichelleCronin</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/person-photos/Tim%202022%20Headshot.png</image:loc><image:caption>Tim2022Headshot</image:caption><image:title>Tim2022Headshot</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Terry%20Leahy.jpg</image:loc><image:caption>TerryLeahy</image:caption><image:title>TerryLeahy</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/C%20Adee.jpg</image:loc><image:caption>CAdee</image:caption><image:title>CAdee</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/person-photos/Linshuang-Lu-3_14_2018-100px.jpg</image:loc><image:caption>LinshuangLu3142018100px</image:caption><image:title>LinshuangLu3142018100px</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/thumbnail/public/person-photos/Haydee%20Caldero%20headshot%20174x174.jpg</image:loc><image:caption>HaydeeCalderoheadshot174x174</image:caption><image:title>HaydeeCalderoheadshot174x174</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/person-photos/Kaplan-Howard.jpg</image:loc><image:caption>KaplanHoward</image:caption><image:title>KaplanHoward</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Wendy%20Guilles.jpg</image:loc><image:caption>WendyGuilles</image:caption><image:title>WendyGuilles</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/thumbnail/public/person-photos/Loren-Rodgers-1_18_2018-100px.jpg</image:loc><image:caption>LorenRodgers1182018100px</image:caption><image:title>LorenRodgers1182018100px</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/thumbnail/public/person-photos/Daniel-Goldstein.jpg</image:loc><image:caption>DanielGoldstein</image:caption><image:title>DanielGoldstein</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/sites/default/files/styles/thumbnail/public/person-photos/Susan-Kildahl-200x200.jpg</image:loc><image:caption>SusanKildahl200x200</image:caption><image:title>SusanKildahl200x200</image:title></image:image><image:image><image:loc>https://www.nceo.org/hubfs/Mike%20Frommelt.png</image:loc><image:caption>MikeFrommelt</image:caption><image:title>MikeFrommelt</image:title></image:image><lastmod>2025-06-30</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-is-the-employees-tax-liability-for-esop-distributions</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/training/courses/s-corporation-esops-digital</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-a-company-transfer-segregate-an-employees-stock-balance-into-cash</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/publications/creating-sustainable-esop-distribution-policy</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/training/courses/ownership-tale-digital</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/publications/direct-employee-ownership</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/publications/esop-401k-plan-employer-stock-litigation-review-digital</loc><lastmod>2026-03-24</lastmod></url><url><loc>https://www.nceo.org/member/repurchase-obligation-toolkit</loc><image:image><image:loc>https://www.nceo.org/hubfs/calnonprofit2.png</image:loc><image:caption>calnonprofit2</image:caption><image:title>calnonprofit2</image:title></image:image><lastmod>2024-12-19</lastmod></url><url><loc>https://www.nceo.org/training/courses/dont-do-that-your-esop</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/research/data/esop-database-wholesale-retail</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/training/courses/equity-alternatives-phantom-stock-sars-restricted-stock-performance-awards</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/what-is-an-esop-trustee</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/research/data/executive-director-compensation-esop-companies-digital</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/member/document-library/sample-esop-plan-administration-committee-charter</loc><lastmod>2026-05-11</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/are-the-earnings-of-the-eot-taxable</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/research/data</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/can-employees-have-an-equity-interest-in-an-employee-ownership-trust</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/training/courses/understanding-esops-digital</loc><lastmod>2025-09-16</lastmod></url><url><loc>https://www.nceo.org/research/data/equity-alternatives-phantom-stock-sars-restricted-stock-performance-awards-digital</loc><lastmod>2025-06-17</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/if-someone-is-hired-during-the-year-and-the-esops-participation</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/how-does-governance-work-in-an-employee-ownership-trust</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/does-converting-from-a-c-corporation-to-an-s-corporation-require</loc><lastmod>2026-05-08</lastmod></url><url><loc>https://www.nceo.org/employee-ownership-faq/if-an-employee-exercises-a-stock-option-in-an-s-esop</loc><lastmod>2026-05-08</lastmod></url></urlset>