Employee Stock Ownership Program

Midwest Drywall is a 100% employee-owned company. An Employee Stock Ownership Plan is a long-term retirement plan funded by the company. It’s a way to reward all of you who help grow Midwest Drywall, and it provides an incentive to enhance the great work we do.

Who is Eligible And When?
To participate in the ESOP, you need to be 19 and employed for 1 year (with at least 1,000 hours in 12 consecutive months).

Entry Date
Once the requirements for eligibility are met, you are automatically in the plan at the next January 1 or July 1 entry dates).

Vesting
Starting January 1, 2018, each plan year that you have 1,000 hours of service, you receive 1 year of vesting (20%). After credit for 5 yeas of vesting, you are 100% vested.

Investments
The ESOP is invested in Midwest Drywall private stock (not on the public stock market).

Valuations
The ESOP trustee determines the price with the help of an independent appraiser (valuation firm), who follows Department of Labor guidelines. It’s generally based on how well we do and our financial projections. The public market and other factors may also be considered.

Trustee
Michael E. New, Trustee, who is principal of Invictus ESOP Fiduciary Services, Memphis, TN
www.invictusfiduciary.com
Phone: 901-260-1444

Record Keeping & Web Portal
Forvis
Contact: Cara Benningfield or Angela Fisher (270)781-0111
Any questions may be directed to our employee ESOP representative, currently Stephanie Johnson 316-729-3237.