ECS has joined the
legion of approximate 11,000 firms that have established an Employee Stock
Ownership Plan (ESOP). "The timing is right to continue our growth
trajectory and to maintain the strong commitment of our dedicated and
passionate employees," said Mark Hellstein, Founder. "The employees have
made this company what it is and they deserve the opportunity to control their
destinies."
Through an established ESOP, employees are allocated stock that
is placed in an ESOP account for each employee. Over time, the employees
develop full, non-forfeitable rights to the assets in their account.
After this vesting process and when employees leave the company, they receive
the cash value of the stock in their accounts (usually at retirement).
Currently celebrating its twenty-fifth year in business, the
ownership of ECS recognized the timing was perfect to move to an ESOP.
Riding the wave of growth and expansion that was founded on employee commitment
and ingenuity, the ESOP will sustain the core values the company was founded on
well into the next several decades.
By sharing the commitment and the common goal to succeed, ECS
considers the ESOP just one of the assets on our journey to continued growth.
|