An Employee Stock Ownership Plan (ESOP) is a government-sanctioned employee benefit program under U.S. law, governed by the Employee Retirement Income Security Act of 1974 (ERISA). It allows employees to become company owners through a trust that holds company stock on their behalf. Employees can earn shares each year they work for the company. When they retire or leave, the company repurchases their shares at fair market value. 

At Papich Construction, the ESOP aims to strengthen employee commitment and engagement, leading to benefits such as enhanced safety, reduced turnover, better workforce retention, and improved productivity. The company prioritizes education on ESOP benefits for new and existing employees, ensuring they understand how the ESOP works and what it means to be an employee owner.

Long-term, the ESOP fosters a culture of safety, quality, efficiency, and innovation, contributing to company growth and employee financial security. At Papich Construction, we are more than just a team—we are owners working together to build something great. Our ESOP is one way we reward the dedication and hard work of our employees, ensuring they share in the success they help create.

For more information about our ESOP and how it benefits our employees, contact us.