What does ESOP stand for?
Employee Stock Ownership Plan
How many years to become fully vested in the ESOP?
Six
Name one benefit of being part of an ESOP.
Financial security, motivation, teamwork, transparency, or loyalty
What year did Team Kline (Electric) open?
2004
True or False: ESOPs are a retirement benefit.
True
True or False: Team Kline became an ESOP in 2009.
False – it was 2016
How do employees get ESOP shares?
They are awarded by the company at no cost
ESOPs are considered what type of benefit?
(A)Health Insurance (B)Profit-Sharing Plan, (C)Retirement Plan (D) Bonus Program
Retirement Plan
What event each year announces the new stock price?
Annual Stock Price Reveal or Stock Price is Right
The stock price increases when what happens?
Company performance improves
How does one qualify for the ESOP?
12 months and 1,000 hours worked
What does “vested” mean in the ESOP?
You own the shares allocated to you
What’s one responsibility of being an employee-owner?
Acceptable Answers: Work safely, take care of customers, help the team, support growth
What year did Team Kline become Employee Owned?
2016
How long does it take to become fully vested: 3, 4, 5, or 6 years?
6 Years
Employees must be 18 to be enrolled. True or False?
True
The ESOP is the same as a 401(k). True or False
False
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
What year did Kline Electric launch Kline University?
2021
What is one way employees can increase ESOP value?
Winning projects, happy clients, cost savings, productivity, retaining employees
True or False: Leaving the company means you lose all your ESOP shares immediately.
False – vested shares remain yours
Who determines the ESOP stock price each year?
An independent, third-party valuation firm
True or False, employees must purchase their ESOP shares out of pocket.
False (Shares are awarded at no cost)
What year was Wirecore added to Team Kline?
2023
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