the esop builder

we are employee owners.
Spring Edition
April 2026

Welcome

Welcome back to The ESOP Builder, a publication for JE Dunn employees designed to keep you updated on our Employee Stock Ownership Plan (ESOP) and highlight how the program directly impacts our employee owners. 

This Spring 2026 edition overviews the many impacts JE Dunn’s Quality department has on our projects and, ultimately, our ESOP. We also go in depth on what exactly contributes to an ESOP, why it matters, and how it contributes toward your future.  

We welcome your feedback and ideas to help improve The ESOP Builder. Please send your suggestions to Ben Hobbs. 

For more information on our ESOP, visit Connect. Contact Anne Wright with any ESOP questions.  

From the CFO

By Bethany Ropa

Between the continued data center boom and expedited project starts, this year will be busier than ever for JE Dunn. We anticipate a 45% year-over-year revenue increase — translating to a forecasted $11.7 billion in revenue for 2026. As we plan for and execute on this work, our continued focus on operational excellence remains vital. Margins are so thin in construction that even slight fee erosion can have a big impact on our bottom line.

We are proud to celebrate the 15 full years of JE Dunn’s employee stock ownership program (ESOP). It’s exciting to see the growing number of employee owners with impressive ESOP gains.  Today we have over 4,100 employee owners in the ESOP, including over 1,300 whose balances are greater than $100,000.

April marks my one-year anniversary with JE Dunn.  Between a record-breaking share price, exceptional sales, and impressive project completions, it’s been an exciting year to join JE Dunn. As both an employee owner and a new mom, I appreciate the strong value that our ESOP provides more than ever, knowing that my work is building a strong future for my son.

Balancing work with a young family is challenging, and I am grateful for the strong support and encouragement I have received leading up to and after maternity leave from colleagues — many of whom are parents themselves. As the first member of the ELT to have a baby in company history and the Executive Sponsor for our women-focused Employee Resource Group, Moment Connection, I hope that sharing my story can encourage my many fellow employees juggling the demands of their personal and professional lives.

While these experiences are deeply personal, they reflect JE Dunn’s families-first values and commitment to long-term value. The ELT continues to focus on how JE Dunn can build a resilient and diversified business for the next 100+ years. Recognizing that the data center surge won’t last forever, we continue investing in various business lines and exploring ways to ensure that our pipeline remains robust. By staying grounded in our values and focused on operational excellence, we are positioning JE Dunn for sustainable success going forward.

ESOP Calendar

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January
New Stock Price Announcement
New stock price is shared with all employees.
April
Statements Mailed to Participants
New employee-owners are recognized and accounts are created with Principal. Vested participant balances are updated with Fidelity.
May
Diversification
Employees over age 55 with more than 10 years of service are able to diversify a portion of their ESOP balance, should they choose.
October
ESOP Month
Celebrate our ESOP with ESOP breakfasts, lunch and learns, and more.
December
Valuation
JE Dunn stock is valued once a year by an independent valuation firm.

How Do You Act Like An Owner?

"

“When we’re able to prevent a quality issue on a job, not only does it reduce fee erosion, but what is incalculable is the fact that our owner may not use us again if we have a significant quality issue.”

Jason Wright
National Quality Director
Kansas City
"

Frequently Asked Questions

I am a new hire and don’t know how to access my ESOP account online. How do I view my account details?
JE Dunn creates the ESOP accounts on behalf of employees at Principal Financial. You do not need to complete a formal enrollment into the ESOP plan. JE Dunn’s stock is valued annually on Dec. 31, then during the first quarter each year JE Dunn’s accounting team works to finalize the distribution of stock to all employee accounts. Annual statements are mailed to employee homes and available online in mid-April, at which time you can view your account details online and name your beneficiary. If you were hired or began contributing to the Dunn 401(k) Retirement Plan in 2024, then you will be able to view your account in mid-April of 2025. If you were either hired or began contributing to the Dunn 401(k) Retirement Plan in 2026 then you must wait until JE Dunn’s 2026 stock price is first determined (end of 2026), and then you will access your account details in mid-April of 2027. It’s important to note that as soon as you begin participating in the Dunn 401(k) Retirement Plan, you start earning JE Dunn stock (ESOP). Your matching allocation from JE Dunn on the 401(k) plan accrues and will be used to purchase shares of stock for you and is allocated to your account with the above-mentioned timeline.
How do I know if I am putting the full value into my 401(k) to receive the max match? Is it pretax or Roth that needs to be a certain percentage? Is the match calculated on each paycheck, a monthly amount, or a total year end amount? For example, do I need to put 6% toward pre-tax 401k every paycheck or could it be 3% for a few months and 9% for a few months to receive the same total?
It can be pretax or Roth, or a combination of the two. The match is calculated on a year-end amount. In the example above, it could be a combination of different amounts that would get you to the same total.
What questions do you have about je dunn's esop?

Did You Know? Fast Facts

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#1

91% of ESOP workers feel they can live comfortably in retirement compared to only 49% of non-ESOP retirees.

#2

Employees at ESOP companies tend to earn higher wages and have greater savings than their peers in non-ESOP companies.

#3

There are over 6,400 ESOP companies in the United States, covering around 15 million participants.