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Our Employee Stock Ownership Plan Acadian Companies became an Employee Stock Ownership Plan (ESOP) in 1993. The company's owners chose to shift away from a regular 401(k) to ESOP because of their desire to diversify holdings and share the success of the company with the employees. Because of this plan, we all work to align our actions and attitudes with the principles of ownership as opposed to those of only an employee of a company.
An ESOP is an employee benefit plan in which employees of a company own stock in that company. An ESOP is unique among qualified employee benefit plans in that it is required by law to invest primarily in the securities of the sponsoring employer, and its ability to borrow money. As a result, "leveraged ESOPs" may be used as a technique of corporate finance. Since becoming an ESOP company, Acadian instills pride, wealth building, and trust in employees. All ESOP companies are dependent on the employee-owners to survive and grow. Ownership is not just about running things; real ownership is building value for all. |
2010 ESOP Employee of the Year
The ESOP Employee-Owner of the Year Award was created to recognize individuals that embrace the ESOP philosophy, are an ESOP advocate and support efforts to make the ESOP grow through their actions and promotions of the ownership culture.
This year’s recipient joined Acadian Ambulance in May of 2004 as a welder in Fleet Maintenance body Shop. He has an infectiously positive attitude and is a fantastic team player that is willing to go the extra mile to get tasks completed. His primary duty is to repair wrecked modules. That is an ESOP savings in itself, but his talents go beyond that. He has installed privacy gates at Hopkins, built oxygen racks, weight racks, parts that are mounted on the ambulance, and the list goes on and on. We are proud to announce the 2010 ESOP Employee of the Year, Mr. Kendall Castille. |
What is an ESOP? 
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