Employee Owned or Employee Stock Ownership Plan
ESOP is a type of wealth-building/retirement benefit plan that gives employees shares in the company. This unique ownership structure fosters a culture of collaboration, accountability, and shared success, driving innovation and excellence in everything we do. At our core, we believe that when employees are vested in the company's success, everyone benefits, creating a workplace environment where dedication and commitment are rewarded, and individuals are empowered to achieve their fullest potential.
- Provided at no cost to you
- A long-term benefit for all employees
- Stock value based on business performance
- The better we do, the more your stock is worth
Why?
- To secure our company’s future for both employees & clients
- To maintain our independence and local ownership
- To reward employees for their efforts in building our success
How do I qualify?
- Be at least 21 years of age
- Be employed for one year
- Work at least 1,000 hours during that year
What does vesting mean and how does it affect my account?
- Fully vested (100%) means the value of your ESOP is completely yours
- You become 100% vested over 6 years
| Years of Service | Vesting Percentage | Years |
| 1 | 0% | 1/1/2018 – 12/31/2018 |
| 2 | 20% | 1/1/2019 – 12/31/2019 |
| 3 | 40% | 1/1/2020 – 12/31/2020 |
| 4 | 60% | 1/1/2021 – 12/31/2021 |
| 5 | 80% | 1/1/2022 – 12/31/2022 |
| 6 | 100% | 1/1/2023 – 12/31/2023 |