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Every company should be owned by its employees (www.elysian.press)

submitted 4 months ago by Melvin_Ferd to c/general

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[–] ChillPenguin 6 points 4 months ago* (last edited 4 months ago)

Every year I get shares from my company. The vesting period is typically longer. For me it took 7 years to be fully vested. But I was accumulating every year. When I leave the company, the company will pay out my shares and I can tell them where to put the funds. But the higher base salary I have, the more shares I get. Also the people retiring or leaving the company, the shares get bought back by the company and redistribute to the employees. At least that's how it works at the ESOP I work at. Kinda a simplistic view of it.

When someone is hired, they don't get shares. They are enrolled into the ESOP program. Then after some time, they will eventually start accruing shares on a regular basis.