Zephyr Environmental Corporation (Zephyr) became an Employee Stock Ownership Plan (ESOP) company in 2010. Our employees love what they do and why not? They are beneficial owners themselves, vested in the success of the company. Since its founding, Zephyr has been an environmental consulting firm dedicated to technical excellence and responsive service, and “consulting for fun and profit” for its employee-owners. We strive to attract, develop, and retain talented employees who are committed to doing their best with utmost integrity. Our ESOP emphasizes and rewards the contributions of the talented and dedicated people who are the driving force behind all that Zephyr is and will be.
What is an ESOP?
An Employee Stock Ownership Plan (“ESOP”) is an employee benefit plan in which qualified employees are beneficial owners of private stock in the company. In an ESOP, a company sets up a trust, into which it contributes new shares of its own stock or cash to buy existing shares.
How Does an ESOP Work?
At the end of every year, shares in the Zephyr ESOP trust are allocated to eligible employee accounts. As employees accumulate seniority with the company, they acquire an increasing right to the shares in their account, a process known as vesting.
Why an ESOP?
ESOPs can provide significant benefits to employees and the company:
- For employees, the ESOP provides a meaningful and personal equity stake in the success and growth of the company. This can translate into significant monetary benefits at retirement.
- For the company, the ESOP reinforces a strong corporate culture and enhances employee engagement. Further, it can be a source of important tax benefits that enhance cash flow and drive future growth.