Did you know that in 2014, Chuck & Don’s adopted and implemented an employee stock ownership plan (ESOP)?
An ESOP makes all eligible employees a shareholder of Chuck & Don’s. As Chuck & Don’s grows in value, our team members will benefit significantly. Every team member who meets the eligibility criteria is a member of the ESOP.
The ESOP is a qualified retirement plan (per the U.S. Department of Labor) which protects the employees and governs the plan. When team members retire or leave Chuck & Don’s for any reason, the value of their Chuck & Don’s stock, converted to cash, will go with them.
To build on our initiative, we created a team member ESOP committee. Our committee will be comprised of non-executive team members. They will keep team members engaged and informed regarding the ESOP, as well as train team members on the benefits of being part of an ESOP. In essence, the committee will help bring the ESOP to life!
Our goal is for Chuck & Don’s to continue to grow in value with all shareholders benefiting. The ESOP provides us yet another opportunity to attract, retain and reward the very best staff, which helps ensure, you, our customer receives the excellent service you deserve.