GLDT ESOP

Terminology

100

This is what ESOP stands for..

What is Employee Stock Ownership Plan?

200

This is an employee's right to all or part of their account balance..

What is Vesting?

300

This is an individual unit of ownership in the company..

What is a share?

400

This is the party that acts on behalf of the ESOP as a shareholder..

Who is the Trustee?

500

This is the ESOP Valuation Advisor..

Who is STOUT?

Important Dates

100

This is the date when year end work and valuation is completed..

What is March 30th?

200

This is the date when account updates are completed..

What is April 30?

300

This is the end of the ESOP plan year..

What is December 31?

400

This is Employee Ownership Month..

What is October?

500

This is the amount of time before an employee becomes fully vested..

What is 6 years?

Eligibility

100

This is the length of the employee waiting period before plan entry..

What is 1 year?

200

This is the age an employee must be to be eligible to participate in the ESOP..

What is 18?

300

These are the dates that employees are entered into the ESOP Plan..

What is January 1 and July 1?

400

This is the number of hours per year an employee must work to receive a distribution for that year..

What is 1,000 hours?

500

This is the employee out of pocket payment to participate in the ESOP..

What is $0?

Distribution

100

Any of these four events allow for distribution…

What is termination, disability, death, or retirement?

200

This is the amount of funds an employee can take as a distribution upon retirement or separation from the company..

What is the vested balance?

300

This is when your ESOP value is considered income and is taxed..

What is after distribution?

400

These are the two options for cash distribution of balances over $5,000..

What is lump sum or 5 year tiered?

500

This is when I will receive my distribution upon separation from the company..

What is the Fourth Quarter of the year after separation?

ESOP Facts

100

This is when the Company started the ESOP..

What is 1990?

200

That is how often our company is valued..

What is annually?

300

This is the ESOP Administrator for our plan and the website you would log into to view account information..

What is Principal?

400

This is the current percentage of Employee Ownership as indicated in the ESOP 101 Presentations and the ESOP Overview and FAQs..

What is 35.6%

500

This is who can impact the value of Company stock..

Who are  all employees?