RETOOLING THE TRADES
THROUGH EMPLOYEE OWNERSHIP
OWNERSHIP
WE ARE PROUD TO BE EMPLOYEE OWNED
Since becoming an employee-owned company (ESOP), our company has unlocked our ability to tap into our team’s commitment to a greater vision, helping us to achieve smarter, more efficient growth, with a focus on each other and not just the bottom line alone. Together, with our employee-owners, we have experienced greater success as a family of partners. As we look ahead, we see our commitment to be THE employer of choice – dedicated to creating sustainable retirement for every employee – the key to our future.
hb global ceo, BOB WHALEN, EXPLAINS WHY ARE WE AN ESOP
BOB WHALEN'S PODCAST ON EMPLOYEE OWNERSHIP
WHAT IS AN EMPLOYEE STOCK OWNERSHIP PLAN?
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An Employee Stock Ownership Plan (ESOP) is an employee-ownership program that provides a company’s workforce with an ownership interest in the company.
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In some ways, an ESOP is similar to a retirement plan due to it being governed by the same laws and regulations as a 401(k). Unlike the typical retirement plans.
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ESOPs:
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Are required by law to invest primarily in the shares of stock of the sponsoring employer.
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Are trusts that hold shares of the business for employees, making them beneficial owners of the company that employs them.
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Can provide tax benefits to the company and to the existing owner(s).
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Can borrow money from related parties to finance company projects — including the tax-advantaged purchase of the company’s shares of stock.
FREQUENTLY ASKED QUESTIONS
