An ESOP, or Employee Stock Ownership Plan, is a plan designed to enable each eligible employee to share in the ownership of our Company. The ESOP has allowed stock to be distributed broadly at no financial sacrifice to either the Company or the Employee-Owners. This establishes a stable, long-term ownership transition plan which is vital to our kind of professional organization.
Employees pay nothing.
These contributions are distributed in the form of Company stock, cash or other assets held in the ESOP trust. The amount of the ESOP contribution in a given year is decided by the Board of Directors and is dependent on a number of factors, the primary one being profitability. Our ESOP can help create financial resources and opportunities which will enhance our success. Since the daily efforts our employees make are the biggest factors in our company's success, nothing is more important than providing an incentive to do the best job possible. Our ESOP provides us with tax advantages which will increase our ability to grow and prosper.