ESOP Basics
What does ESOP stand for?
Employee Stock Ownership Plan?
What does it mean to be "vested"?
You fully own your ESOP shares.
What makes the value of ESOP shares go up?
Company performance
What was the theme of the last stock price reveal party?
The Stock Price is Right!
What's your favorite part about being an employee-owner?
Up to you!
When do you qualify for the ESOP?
After 1 year and 1,000 hours.
When do we become fully vested at Team Kline?
After 6 years.
Can employees influence the value of the ESOP? How?
By helping Team Kline succeed!
What is a personal benefit of being an ESOP?
Building retirement savings!
What is the biggest expense Team Kline has every day?
Labor!
When did Team Kline become an ESOP?
2016
How often are ESOP shares distributed to employee-owners?
Once a year
What's the most recent stock price?
$25.17
How do ESOPs affect employee retention?
ESOPs have a higher retention rate
What are the top ways to add profitability to the company?
Clocking in correctly
Fewers extra trips while on the clock
Using resources wisely
How much do YOU contribute to your ESOP?
$0
What factors affect the number of shares each employee receives?
1. Salary
2. Number of years with the company
3. Stock price
How is the value of ESOP stock determined?
An independent financial advisor assesses the value once a year.
What are some team benefits of having an ESOP?
Possible answers:
1. Motivation
2. Retirement savings
3. Shared success
What is an ownership mindset?
Thinking and acting like business owners. At Team Kline, you are an owner!
Name one way an ESOP is different from a 401k.
An ESOP is 100% EMPLOYER Funded
401k is made up of employer & employee contributions
What happens to your shares if you leave the company before you're fully vested?
You'll only keep the vested portion. Anything else is forfeited back to the employer.
How much has Team Kline's ESOP value grown each year?
Around 25%.
How many ESOPs are in the US?
About 6,500
How is Team Kline's ESOP different from others?
1. We're 100% employee-owned and other companies aren't
2. We provide a 401k with a match in addition to the ESOP