Hannah Sandmeyer
Founder, Steward Market
Hannah Sandmeyer is the founder of Steward Market. She writes on ownership transitions, ethical exits, and the design choices that determine whether deals hold up after close.
Articles by Hannah Sandmeyer
May 1, 2026
Employee Ownership Models 101
Employee ownership isn't one structure but a set of approaches — ESOPs, co-ops, EOTs, steward-ownership, perpetual trusts — each making different tradeoffs between economic share and decision-making power.
May 1, 2026
Valuing Your Values: How Purpose Shows Up in Deal Structure and Deal Price
Values aren't a tax on a transaction — they shape who shows up, how risk is priced, and what survives the close. The only question is whether they're explicit or default.
May 1, 2026
Navigating the Dip: Why Ownership Structure Matters More in a Down Market
Down markets reveal weak ownership structures that abundant capital had been hiding. In moments like this, structure becomes the difference between continuity and collapse.
May 1, 2026
After the Close: What Actually Determines Whether a Deal Was Good
Whether a deal was good is rarely determined at signing. The factors that decide post-close outcomes are quieter, harder to measure, and almost never prioritized.
May 1, 2026
Stewardship Is a Design Choice, Not a Personality Trait
Outcomes from ownership transitions rarely fail because of bad people. They fail because systems reward speed and extraction. Stewardship has to be designed, not assumed.
May 1, 2026
What Alignment Actually Looks Like in a Good Deal
Alignment is one of dealmaking's most overused and least defined words. It's not a feeling — it's a structural outcome that protects what matters under stress.
May 1, 2026
What Founders Are Really Afraid Of When They Sell
Founders rarely admit fear when selling. The deepest concerns aren't financial — they're about erasure, identity, betrayal, and how a legacy will be judged.
May 1, 2026
Ethical Exits Are Not Neutral
Exits aren't neutral technical events — they're purposeful inflection points whose design choices shape the fate of employees, communities, and the broader economy long after closing.