ESOP Basics
Ownership Rules
Benefits of Ownership
Team Kline Knowledge
Fast Facts
100

What does ESOP stand for?

Employee Stock Ownership Plan

100

How many years to become fully vested in the ESOP?

Six

100

Name one benefit of being part of an ESOP.

Financial security, motivation, teamwork, transparency, or loyalty

100

What year did Team Kline (Electric) open?

2004

100

True or False: ESOPs are a retirement benefit.

True

200

True or False: Team Kline became an ESOP in 2009.

False – it was 2016

200

How do employees get ESOP shares?

They are awarded by the company at no cost

200

ESOPs are considered what type of benefit?
(A)Health Insurance (B)Profit-Sharing Plan, (C)Retirement Plan (D) Bonus Program

Retirement Plan

200

What event each year announces the new stock price?

Annual Stock Price Reveal or Stock Price is Right

200

The stock price increases when what happens?

Company performance improves

300

How does one qualify for the ESOP?

12 months and 1,000 hours worked

300

What does “vested” mean in the ESOP?

You own the shares allocated to you

300

What’s one responsibility of being an employee-owner?

Acceptable Answers: Work safely, take care of customers, help the team, support growth

300

What year did Team Kline become Employee Owned?

2016

300

How long does it take to become fully vested: 3, 4, 5, or 6 years?

6 Years

400

Employees must be 18 to be enrolled. True or False?

True

400

The ESOP is the same as a 401(k). True or False

False

400

How much does it cost employees to receive ESOP shares? (A) A payroll deduction (B) A one-time investment (C) Nothing – shares are awarded by the company (D) Half the cost is covered by the employee

Nothing – shares are awarded by the company

400

What year did Kline Electric launch Kline University?

2021

400

What is one way employees can increase ESOP value?

Winning projects, happy clients, cost savings, productivity, retaining employees

500

True or False: Leaving the company means you lose all your ESOP shares immediately.

False – vested shares remain yours

500

Who determines the ESOP stock price each year?

An independent, third-party valuation firm

500

True or False, employees must purchase their ESOP shares out of pocket.

False (Shares are awarded at no cost)

500

What year was Wirecore added to Team Kline?

2023

500

In order, list when each of our branches were established with the year...

Des Moines, 2004 > Waterloo, 2018 > Cedar Rapids, 2021 > Omaha, 2021 >  Kansas City, 2024

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