Employee Stock Ownership Plan (ESOP)

We are now 100% EMPLOYEE OWNED!

What does that mean?

Employee Owned or Employee Stock Ownership Plan (ESOP) is a type of wealth building/retirement benefit plan that gives employees shares in the company.

  • 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 building our success

How do I qualify?

  • Be at least 21 years of age
  • Be employed for one year
  • Work at least a 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 a 6 year period
Years of ServiceVesting PercentageYears
10%1/1/2018 – 12/31/2018
220%1/1/2019 – 12/31/2019
340%1/1/2020 – 12/31/2020
460%1/1/2021 – 12/31/2021
580%1/1/2022 – 12/31/2022
6100%1/1/2023 – 12/31/2023

If you have you any questions, please contact the HR Department at (304) 291-9066.
You may also go to www.esopinfo.org

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