WHAT IS ESOP?
ESOP stands for Employee Stock Ownership Plan. It’s a retirement benefit, regulated by federal law, that makes the people who work at a company its owners.
Here’s how it works at Stokes Trucking:
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A trust was set up to hold Stokes Trucking stock on behalf of our employees.
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Each year, shares are allocated to individual employee accounts
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Employees don’t buy shares, take a pay cut, or contribute from their paychecks. Stokes funds the plan.
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An independent third-party firm values the company every year, so the value of your account is set by a professional appraisal.
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When an employee retires or leaves, the company pays out the value of their vested shares according to the plan’s rules.
Val & Julie Stokes Message
THE RESULT?
Stokes Trucking is now 100% Emplpoyee owned
WHAT THIS MEANS FOR CURRENT EMPLOYEES
Costs You Nothing
Your ownership account is funded by the company, not by you.
You Grow With Stokes
When the company does well, the value of your stake can grow with it. Share value can also go down, so it isn’t a guarantee.
Earn Over Time
Shares vest on a schedule, and the longer you’re here, the more of your account is fully yours.
Everyone Included
Drivers, mechanics, dispatchers, and office staff are all eligible, not just management.
WHAT THIS MEANS FOR FUTURE EMPLOYEES
When you join Stokes, you’re joining a company owned by the people who work here.
You’ll become an owner too
New hires become eligible for the ESOP after
Same program, same opportunity
The plan is built for people who make a career here, so it rewards the time you put in.
A team that’s invested
When everyone has a stake in the results, safety, service, and equipment care are everyone’s business.