IT’S YOUR TURN TO SHARE HOW YOU ESOP!
We know you’re out there every day, taking ownership, and making it happen! When you consistently show up for yourself and your team, work hard, focus on improving efficiency, cut expenses, work safely, and adhere to our core values – you are bringing value to our ESOP.
2024 All Hands Meeting!
The 2024 All Hands Meeting was all about how, as Employee Owners, We Own This!
This year’s meeting showcased our unwavering commitment to delivering exceptional service, quality, and value to our customers. The deep employee engagement evident throughout the meeting underscores our strong ownership culture and our collective dedication to the success of our ESOP!
Hundreds of Employee Owners joined the All Hands Meeting from across the country! In addition to everyone who tuned in for the All Hands Meeting, we would like to say thank you to all the EO’s who starred in or helped create the video. We are so proud to see the growing participation of Employee Owners in these communications throughout the years and enjoy collaborating with you!
Frequently Asked Questions
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When do I enter into the ESOP plan?
Entry dates into the ESOP are January 1st and July 1st each year. To participate in the plan for that year, at the enrollment times you must meet the following requirements at the time:
- Be 21 years old
- Be a W2 employee and work a minimum of 1,000 hours per year
- Have completed 1 year of continual service prior to the entry date
- Be employed on the last date of the plan year to receive allocation for the year
When will I be able to log into my ESOP CONNECTION account?
Your first year: After you meet the requirements above to enter your first plan year, you must wait for that plan year’s disbursement (see next question for disbursement schedule information). When disbursement happens for your first year of participation, you will receive a physical certificate in the mail and an online account will be created for you on the ESOP Connection Portal.
Not your first rodeo: Once you receive your first statement you can log in at any time to keep an eye on your account. Your account won’t have the opportunity to change until the next statement issuance but there are other resources within the portal that you might find helpful.
When are shares allocated?
The plan year ends at the end of the calendar year and allocation of shares for that year is typically completed by October of the following year.
EXAMPLE: If you met the requirements to be enrolled in the 2021 plan year, allocation of shares for the 2021 plan year will happen in October of 2022.
NOTE: Now that 2021 has passed, our 2021 valuation process is underway. Allocation of shares for the 2021 plan year, along with the announcement of our 2021 reset share value, will take place once the process is complete in October of 2022.
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Is the ESOP free?
Span Construction & Engineering, Inc. ESOP participants will not put any of their own money into the ESOP, BUT:
- ESOP participants now have a shared responsibility to help the Company grow
- Participants’ retirement accounts depend upon the value of the Company’s shares
- The ESOP increases participants’ stake in the Company and the Company’s stake in them
Where do I sign up for the ESOP?
You already did! If you were an active employee when we became an ESOP in 2018 you were already enrolled. For all new hires since, all the paperwork was included in your new hire paperwork!
When you are elligible to enter, you simply do!
Past ESOP Videos & News
MCN Hall of Fame Induction: King Husein
METAL CONSTRUCTION NEWS; October 31, 2014; By Mark Robins (Full Article) King Husein: On the back of a simple concept, Husein has built a business that has transformed an industry King Husein has built Madera, Calif.- based Span Construction and Engineering into the...