100% Employee Owned
Penn Line began the journey to employee ownership in 1979/1984 with the initiation of a stock bonus plan. It was reinforced in 2004 when Penn Line became an ESOP company. In 2010, the process to employee ownership was completed as the company became 100% employee owned through the ESOP.
What is an ESOP?
An ESOP (Employee Stock Ownership Plan) is a retirement benefit plan that provides shareholder value to employees, at no cost to the employee.
Why It Matters
Penn Line prides itself on the value it assigns to its people and recognizes that the people are what make the Penn Line culture what it is today. It makes sense that a company so focused on its people would want to give back and help provide for their future. The company contributes to the ESOP on a yearly basis while employees contribute nothing. With an ESOP, everyone has a stake in the success of the company. Employees understand that a win for the company is a win for themselves, and will provide the necessary knowledge and support to each other to guarantee goals are achieved. Team effort at its finest!