RESA Power launches industry-first employee ownership plan
USA, Texas, Houston: RESA Power, LLC has announced the launch of the company’s Employee Ownership Plan (EOP) for its employees.
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USA, Texas, Houston: RESA Power, LLC has announced the launch of the company’s Employee Ownership Plan (EOP) for its employees.
All RESA Power full-time employees who are not already stockholders and who have logged one year of tenure received a one-time grant of 6,000 shares in the company at no cost. Under the Company’s 5-year growth business plan, those shares could be worth potentially several months of salary at the exit.
“RESA Power is proud to take a bold step within our industry and put a plan in place to reward all of our employees with a stake in the company,” said, Monte Roach, Chief Executive Officer at RESA Power. “RESA Power is committed to growing the business and market share by mobilizing employees to act as owners and embrace opportunities with the ‘One RESA’ mindset by driving performance and creating sustainable value for our employees, customers, and investors.”
Current and prospective full-time employees who reach one year of tenure in the future will also be granted the one-time stock grant, with a value recalculated based on the present-day value of the company at the time.
The company shares were issued with the financial support and backing of the owner, Investcorp, and in recognition of the employee’s service and contributions, regardless of location and salary level.
Investcorp partnered with RESA Power in December 2021 and has been supportive in accelerating the company’s growth ambitions both organically and through M&A with two acquisitions to date.
Source: RESA Power