Feinmann’s Employee Stock Ownership Plan (ESOP) enables our employees to become co-owners of our company. As of December 1st, 2022, we transitioned ownership to our employees. This program offers employees a long-term benefit that pays out when one retires or leaves the company. Our ESOP’s value is tied to our company’s performance, which means our employees directly benefit from their contributions. ESOPs are rare, with only 6,500 in the US, out of 32 million small businesses. We’re confident that our new ESOP will help our business and employees thrive. Research shows that employee ownership and collaboration result in a happier team and clients.
What Is Our ESOP?
Our Employee Stock Ownership Plan is a long-term, wealth-building benefit. It’s similar to our 401(k) plan, but different in some significant ways.
You earn ownership in Feinmann.
By design, our ESOP holds stock in Feinmann, Inc. Through it, you’ll build an equity (ownership) stake in our company.
Provided at no cost to you.
Our ESOP plan is an additional employee benefit. You receive it because you provide premier services that help our business succeed every day. It costs you nothing out of pocket to participate in our ESOP. In fact, you can’t contribute your own money to it. Feinmann, Inc. makes all the ESOP contributions, funding the plan for the benefit of all eligible employees.
Designed as a long-term benefit.
Our ESOP pays out benefits when you retire or otherwise leave the company. It’s a long-term benefit that enables you to build wealth during your career with us. Expect the value of your account to start small and grow over time. The longer you stay with our company, the more contributions your account can receive and the more it can be worth.
A unique opportunity.
The National Center for Employee Ownership, a not-for-profit research organization, estimates that there are only about 6,500 ESOPs in the U.S. The Small Business Administration (SBA) in Washington, D.C., notes that there are over 32 million small businesses in the U.S. That means there aren’t a lot of ESOP companies.
You benefit directly from your efforts.
Your work matters! How you serve customers, manage expenses, and work efficiently influences our company’s success. We’ve connected the ESOP stock to our performance, which means your efforts directly impact its value. Let’s maximize our ownership opportunities together!
Why Do We Have an ESOP?
Feinmann, Inc. Employee Stock Ownership Plan provides you with a unique opportunity. We implemented our ESOP because it:
Supports our culture.
We want a company where employees work together to provide exceptional, quality craftsmanship and innovative designs that continues our history of success. We want everyone, no matter their job, to strive to have a positive impact and think and act like a business person. Our ESOP supports Feinmann’s most valuable asset, its employees.
Shares the rewards.
Everyone’s dedication to our customers and communities makes our business successful. While you receive a paycheck for your hard work, we want you to share in the long-term benefits of your efforts too.
Provides a business transition strategy.
The ESOP enables Feinmann, Inc. to transition ownership of the company to all employees without selling it to another person or entity. If someone else had purchased our company, they likely would have changed it, sold off parts of it, or discontinued services. Employee ownership enables us to continue operating the business without any changes to our company values. This will allow us to sustain our company for the long haul in our community.
Makes long-term wealth building possible.
Our ESOP provides you with additional retirement benefits that can be substantial. Its value is based on our company’s performance. So, the better Feinmann, Inc. does, the more all ESOP participants will benefit. Studies have found that ESOP companies surpass other businesses when employees comprehend and participate in the ESOP. By owning a piece of the company, we work together to serve our customers and outperform the competition. That’s why Feinmann, Inc. has an ESOP.
We succeed together as employee owners.
America is the land of economic freedom. The highest title someone can achieve is to be an owner. Our ESOP enables us to be employee owners of Feinmann, Inc. where we take pride in our hard work and respect our clients.