ETC is now and always has been a privately held company. This allows the company to make decisions on a local level about everything that happens – manufacturing, distribution, wage scale, and the generous quarterly bonus program. In December of 2015, ETC announced that it was implementing an
ESOP, or employee stock ownership plan.
In December of 2023, ETC expanded that plan to make the company 100% employee owned.
What does the ESOP mean
for our employees?
The ESOP helps to preserve ETC as an independent company for the future and allows employees to have a voice on certain company issues and share in the financial growth of ETC.
Every year for the next 50 years, individual shares will be allotted to the employees.
ESOP is in addition to company contributions to the 401(k) retirement plan, a company-wide bonus plan, and other benefits employees already receive. Employees don’t have a say on pay issues, but if there’s ever a question of the company getting liquidated or
sold, everyone gets a vote.
“We see this being a protection adding to the longevity of the company as an independent company,” Founding CEO, Fred Foster.