St. Louis, MO — Employee-owned Experitec, Inc. celebrated its first official ESOP Share Price on Tuesday, March 31, 2020 since becoming 100% employee-owned last year. Experitec announced its transition to an ESOP (Employee Stock Ownership Plan) and employee ownership on January 28, 2019. Since then, employee owners have anxiously awaited the company’s first official share price to better understand the value of being an employee owner. An article published by the Employee Ownership Foundation explains why being employee-owned is a benefit,
"Employee-owners have a different attitude about their company, their job, and their responsibilities that make them work more effectively and increases the likelihood that their company will be successful. Fundamentally, employee-owners are more accountable for their job performance and their fellow workers' job performance simply because they have a common stake in the success of their company."
Experitec revealed the ESOP share price as part of Experitec’s Annual Employee Appreciation Day Extraordinary Workplace Celebration. Experitec Leadership recognizes as a sales and services company, Experitec’s true value is its employee owners. The result of employees’ high performance, hard work, and dedication to serving our customers is truly the source of and drives Experitec’s overall value, which is reflected by the share price. By revealing the share price on Employee Appreciation Day, Experitec recognized the employee owners’ direct and continuous contribution to the value of Experitec overall.
As part of the share price reveal, Experitec Leadership Team member Brad Fischer (VP of Sales) first educated employees on the process and details used to determine the value including the valuation company, the factors considered, and the method used to calculate the valuation. Next, Leadership Team member Jessica Tietjen (VP of Shared Services) provided the details to employees on how to access and understand their participant statements. Finally, Zac Scott (CEO & President) shared how employees can continue to impact the value of Experitec and revealed the share price in a special video. The video, produced by Experitec’s own Inside Sales Engineer, Wes Walker, garnered many laughs as a play on the TV Show “The Office”.
Experitec considers this first share price to be a great starting point for the company and can’t wait to see how much employee owners will grow the stock price in the years to come!