National analysis from EOX’s Steve Storkan introduces cumulative ESOP distributions as a new way to measure the economic impact of employee ownership. The study finds that $141.8 Billion reached employee owners between 2009 and 2024, revealing a major part of the employee story that is rarely measured. The full study is available at no cost.

ARLINGTON, Va., Oct. 29, 2026 /PRNewswire-PRWeb/ — A new national study of Employee Stock Ownership Plans (ESOPs) has identified $141.8 billion in benefits paid to workers and beneficiaries from 2009 through 2024, revealing a major part of the employee ownership story that is rarely measured over time.

The report, More Than What Remains: Measuring the Wealth ESOPs Have Already Delivered, was authored by Steve Storkan, Executive Director of the Employee Ownership Expansion Network (EOX), with research and data analysis by Aaron Dean, Founder and CEO of Deanalytics. Dean developed the software and dashboard used to collect, organize, categorize, and analyze the annual Form 5500 filings of Employee Stock Ownership Plans (ESOPs).

An ESOP is a retirement plan that gives employees an ownership stake in the company where they work. In a traditional ESOP, employees generally do not use their wages or personal savings to buy the company stock allocated to their accounts. The study examined distributions, contributions, plan terminations, and new ESOP formations reported in Form 5500 filings over the sixteen-year period from 2009 through 2024.

To measure wealth created by ESOPs, national statistics have traditionally focused on assets currently held in plans and annual distribution amounts. To the researchers’ knowledge, this is the first study to calculate cumulative ESOP distributions over an extended period, requiring the collection, organization, and analysis of approximately 100,000 Form 5500 filings across sixteen years.

“For years we have talked about how much wealth exists inside ESOPs, but we have not celebrated the wealth that has already reached employees,” Storkan said. “This research gives us a powerful new way to tell that story. More importantly, it gives business owners, policy makers, community leaders, and employee ownership advocates evidence they can use to help create far more employee-owned companies.”

One of the study’s central themes is that ESOP wealth can become meaningful well before traditional retirement. Dean’s own experience illustrates that point. Before founding Deanalytics, Dean spent five years working for an employee-owned company. When he later received his ESOP distribution, he used part of that wealth to strengthen his personal finances and, most significantly, to help launch Deanalytics.

“I experienced firsthand what an ESOP distribution can mean in someone’s life,” Dean said. “My distribution helped me get my financial house in order, but more importantly, it gave me resources that helped make it possible to start Deanalytics. When Steve explained what he wanted to learn from the Form 5500 data, I immediately understood why the question mattered. The data behind this study represents billions of dollars, but every distribution ultimately represents a real person and an opportunity that employee ownership helped create.”

The study found that approximately $28.7 billion, or 20 percent, of measured distributions came from ESOPs that were winding down, often after a company sale or ownership change. As an example, in 2020 Leidos completed its acquisition of Dynetics, a Huntsville, Alabama, employee-owned company. As a result of the purchase, the Dynetics ESOP was terminated, and about $977 million in distributions across 2019 and 2020 was paid to roughly 2,260 participants in the ESOP. The report includes five additional company case studies showing how large ESOP payouts can occur when ownership changes.

The remaining approximately $113.1 billion came from ESOPs that were not winding down, showing that employee ownership wealth is also realized through retirement, leaving a job, diversification, and other events during the normal life of an ESOP. For Storkan, however, documenting the wealth already created is not the ultimate objective.

“The reason to measure and celebrate this wealth is to create more of it,” Storkan said. “Every retiring business owner should consider employee ownership as a succession option. Owners who are nowhere near retirement should consider it as well if they want to build a strong company and create meaningful wealth for the people helping them build it. Too few business owners seriously consider employee ownership, and too few of the people advising them understand how much wealth employee-owned companies have already created.”

The analysis also identified 3,943 new ESOPs and 3,839 ESOPs entering the termination process from 2009 through 2024. New ESOPs exceeded terminations in every year from 2016 through 2024. The findings show that relatively small changes in the national number of active ESOPs can conceal significant movement as companies enter and leave employee ownership.

The report also includes state-level data showing the distributions, contributions, new ESOP formations, and ESOPs entering termination by state from 2009 through 2024. The figures are based on the location reported by the plan sponsor, typically the company’s headquarters, and do not identify where individual participants receiving distributions live.

“The national number is powerful, but the state numbers make the story much more tangible,” Storkan said. “A state legislator can now see how much wealth ESOPs associated with their state have distributed. Community leaders can see what employee-owned companies in their area have already produced for workers. And business owners can see that employee ownership is not just a national idea. It is creating real wealth in communities across the country.”

Storkan and Dean welcome opportunities to work with state and local leaders, researchers, and employee ownership organizations to build on the published state data and provide more targeted analysis by community, industry, and other relevant measures.

Read the Executive Summary and Download the Full Report →

About the Employee Ownership Expansion Network (EOX)

Founded in 2018, EOX is the nation’s only 501(c)(3) non-profit focused on building awareness and engaging local communities around all forms of employee ownership at state and national levels via a network of 25 State Centers for Employee Ownership. The Employee Ownership Expansion Network works to expand employee ownership by building and strengthening a national network of State Centers for Employee Ownership. EOX helps states develop the infrastructure, partnerships, education, and resources needed to introduce more business owners and communities to employee ownership. Learn more at www.eoxnetwork.org

About Deanalytics, LLC

Founded by Aaron Dean, Deanalytics builds data tools for mission-driven companies, including ESOPs and the manufacturers that sell through distributors. Its ESOP work includes the ESOP Scanner, which makes Form 5500 data searchable and comparable across companies and years, and the free ESOP Almanac at deanalytics.llc.

Media Contact

Kyle Harshey, The Employee Ownership Expansion Network (EOX), 1 (205) 516-1601, marcom@eoxnetwork.org, https://www.eoxnetwork.org/

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SOURCE The Employee Ownership Expansion Network (EOX)

In the news release, AndX Global Unveils Manila One, a First-of-Its-Kind Tokenized Land Development With Global Access, issued 29-Oct-2026 by Andx Global over PR Newswire, we are advised by the company that changes have been made. The complete, corrected release follows, with additional details at the end:

AndX Global Unveils Manila One, a First-of-Its-Kind Tokenized Land Development With Global Access

$100 million USD-denominated offering brings a 54-hectare Metro Manila development on-chain, built for global distribution and secondary trading.

NEW YORK, Oct. 29, 2026 /PRNewswire/ — AndX Global today unveiled Manila One, a $100 million initiative that is the first to tokenize a large-scale, development-stage land project and open it to investors worldwide from day one.

Originated in the Philippines, structured through a U.S.-based investment framework and built for distribution to eligible investors globally, Manila One represents a new model for cross-border real estate investing. It combines a local asset, institutional structuring, global access and a path to liquidity.

Manila One applies tokenization where the most value is created, in the development of raw land, and opens it to investors around the world from the start.

“Tokenization without liquidity is simply digitized illiquidity,” said Viru Raparthi, CEO of AndX Global. “Manila One changes that model by giving global investors access at the development stage, while building toward real liquidity. This isn’t just about tokenizing real estate. It’s about creating a global market for real-world assets.”

Designed for global investors

Manila One is built to overcome the barriers that have kept private real estate closed to most investors: access, currency, minimums and exit.

Global access: open to eligible investors in more than 190 countries, subject to applicable lawUSD-denominated: priced and reported in U.S. dollarsLow minimum: tokens priced to ensure maximum participationDigital ownership: each token represents an economic interest in the development-stage project, with digital custody and blockchain-based recordkeepingBuilt for liquidity: designed for secondary trading on regulated AndX exchanges globally, so eligible holders can buy and sell their interests rather than stay locked into a multi-year private investment

Behind the offering is an end-to-end model that AndX intends to apply to other asset classes. It runs from origination through U.S. structuring, digital issuance, global distribution and custody to secondary trading. AndX Global provides the technology, tokenization, exchange, custody, payments and distribution infrastructure.

“The next generation of capital markets won’t be defined by geography,” Raparthi said. “It will be defined by access.”

The asset: 54 hectares, 5 km from Bonifacio Global City

The project centers on about 54 hectares of waterfront land roughly 5 kilometers from Bonifacio Global City (BGC), Metro Manila’s leading business district. Proceeds will fund horizontal development, including roads, utilities, drainage and other core infrastructure, to prepare the site for future residential, commercial and mixed-use construction. A later phase is planned to include affordable housing.

Manila One is sponsored by Jack Rodriguez, a Filipino entrepreneur and President of ARC Pacific Development, Inc., whose family story spans generations and two countries. His ancestry traces to passengers associated with the Mayflower and America’s earliest Pilgrim settlers, while his own roots remain deeply connected to the Philippines. Rodriguez sees the project as a bridge between the United States and the Philippines.

“Major development opportunities in the Philippines have mostly been available to a small circle of institutions, developers and wealthy families,” said Rodriguez. “Manila One opens that up, starting with Filipinos around the world and extending to investors everywhere who want a stake in transforming a major Philippine asset.”

The project is advised by Romel C. Cañete, widely regarded as one of the early visionaries behind Manhattan’s Hudson Yards transformation. Cañete evaluated developer bids for more than 40 million square feet of mixed-use development over the West Side rail yards — work that helped shape what became one of the most successful and consequential urban redevelopment projects in modern New York City.

“On Hudson Yards, the first question was whether the infrastructure could carry the vision,” said Cañete. “Manila One starts in the same place. What’s different is who gets in on the ground floor. It’s not just a handful of institutions anymore, but investors around the world.”

Offering at a glance

Offering size: $100 millionUnderlying asset: about 54 hectares of waterfront land near BGC, Metro ManilaIndicated land value: more than $200 million, per Cuervo Valuers & Advisory, Inc. (appraisal dated February 3, 2026)Term: three yearsPreferred return: 8% per year, simple and non-compounding (24% over the three-year term)Additional upside: 100% return on investment tied to appreciation of the underlying land, subject to offering termsEligible investors: retail and institutional, in more than 190 countriesOffering documents and eligibility: andx.ai/m1

About Manila One

Manila One is a tokenized real estate offering tied to the horizontal development of about 54 hectares of waterfront land near Bonifacio Global City in Metro Manila. ARC Pacific Development, Inc. is the sponsor, and AndX Global provides the tokenization and distribution infrastructure. Learn more at andx.ai/m1. 

About AndX Global

AndX Global is a financial technology company expanding global access to financial markets and real-world assets. Its infrastructure spans licensed digital-asset trading, payments, tokenization, custody and liquidity. Its mission is to let investors trade any asset, anywhere, anytime. Learn more at andx.ai. 

Important disclosure

This communication is for informational purposes only. It is not an offer to sell, or a solicitation of an offer to buy, any security or investment product. Any offering will be made only under applicable securities laws and through definitive offering documents containing material information about the investment, its risks and its terms. Investing involves risk, including possible loss of principal. The preferred return is not guaranteed. Statements about liquidity, secondary trading, returns, appreciation or future value are forward-looking and not guaranteed. Secondary trading, if available, will be subject to securities laws, regulatory approvals, transfer restrictions and the availability of an appropriate venue. Securities-related activities in the United States, where applicable, will be conducted through appropriately registered entities.

Media contacts

United States
Roxanne Rittberg
roxanne@andx.ai
+1 (561) 544-7172

Philippines
Mikel Cañete
mikel@andx.ai 

Correction: An earlier version of this release did not have the proper hyperlinks.

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SOURCE Andx Global

The technology company’s fast-growing premium cinema format has existing locations in the U.S., U.K., Germany, India, Italy, and the Netherlands.

KORTRIJK, Belgium, Oct. 29, 2026 /PRNewswire/ — Barco, a global leader in laser cinema projection, today announced plans to bring HDR by Barco, its groundbreaking premium cinema format, to Belgium for the first time. The new auditorium is set to open in Kinepolis Kortrijk, steps from Barco’s headquarters. The news comes as Barco continues the rapid expansion of HDR by Barco across the U.S. and European markets, including most recently with three new sites in Germany.

Construction is underway, with the new auditorium set to officially open on November 18. The long-awaited commercial debut of HDR by Barco in Belgium gives audiences in the company’s hometown a chance to experience one of cinema’s most talked about innovations.

First introduced to moviegoers in the fall of 2024, the premium format has enjoyed rapid deployment across major film markets following its commercial debut in early 2025.

“Bringing HDR by Barco to Belgium — and to Kortrijk in particular — makes this especially meaningful for us,” said Carl Rijsbrack, Barco Cinema Senior VP of Strategy and Product. “We developed this technology out of our ambition to take the cinema experience to the next level. HDR by Barco is now making its way into cinemas around the world. Being able to bring this experience to Belgian audiences together with Kinepolis marks another milestone for us.”

The upgraded screen at Kinepolis will feature premium HDR by Barco presentation, immersive audio, and premium seating; delivering an elevated experience for moviegoers.

Said Nicolas Hamon, Head of Projection and Sound at Kinepolis Group,

 “At Kinepolis, innovation serves one purpose: delivering the best possible cinema experience to our customers. HDR by Barco allows us to showcase more detail, colour and contrast on screen, allowing us to do even greater justice to filmmakers’ creative vision and deliver an exceptional viewing experience.”

Today’s announcement builds on the longstanding relationship between Barco and Kinepolis which dates back to the former’s foray into digital cinema. Kinepolis was also a trailblazer in the adoption of laser projection for cinema, leveraging Barco’s technology to power their premium brand, Laser ULTRA in 2014. Now the companies are once again setting a new bar for exceptional cinema quality in Belgium.

“HDR by Barco was invented here, so bringing it home to Kortrijk with Kinepolis closes a circle for us,” said Gerwin Damberg, EVP of Barco Cinema. “Every HDR by Barco title is a dedicated version of the film, graded and signed off by the original creative team. You won’t see that version on a standard screen. Lightsteering puts light exactly where the story needs it, with no extra power: better pixels, not more pixels. Exhibitors across Europe are reinvesting in premium cinema, and this is what makes the premium seat worth it. It’s just you and the movie, nothing in between.”

Based on the company’s patented Lightsteering technology, Barco’s approach to cinematic HDR produces images with highlights that are over 6x brighter than traditional projection, while retaining rich details in the darks for greater depth, clarity, and range. HDR by Barco delivers expansive creative possibilities for filmmakers, producing a wide color gamut with high-contrast images that captivate audiences.

For more information on HDR by Barco, including locations, upcoming releases, and showtimes, visit: www.HDRbyBarco.com 

About Barco

Barco, headquartered in Kortrijk (Belgium), is a global technology company leading in visualization, networking, and collaboration solutions. Its innovative technologies drive advancements in the healthcare, enterprise, and entertainment markets. At the heart of Barco’s success are over 3,000 dedicated ‘visioneers’, each passionately contributing to driving change through technology.

Listed on Euronext (BAR), Reuters (BARBt.BR), and Bloomberg (BAR BB), Barco realized sales of 964 million euro in 2025. For further insights, please visit www.barco.com or connect on LinkedIn, YouTube, Instagram, and Facebook.

Barco. Visioneering a bright tomorrow. © 2026

About Kinepolis

Kinepolis Group NV is a leading international cinema operator, active across Europe and North America and headquartered in Ghent, Belgium. The Group’s portfolio of premium cinema brands includes Kinepolis in Europe, Landmark Cinemas in Canada, and MJR Theatres, Emagine and Showcase Cinemas in the United States.

Founded in 1997 and publicly listed since 1998, Kinepolis builds on a cinema heritage dating back to the late 1960s and has grown into a reference in the cinema exhibition industry. The Group combines continuous operational optimization with a strong focus on customer experience. In addition to its core exhibition activities, Kinepolis is active in film distribution, B2B events, screen advertising and real estate management, supporting a diversified and integrated business model.

Kinepolis operates a network of 134 cinemas, representing 1,474 screens and approximately 230,000 seats, across Belgium, France, Luxembourg, the Netherlands, Spain, Switzerland, Poland, Canada and the United States. Supported by more than 5,000 employees, the Group delivers unforgettable entertainment experiences to millions of visitors each year. More information is available at www.kinepolis.com/corporate.

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SOURCE Barco, Inc.