ESOP
Definition
Noun: 1. Employee Stock Ownership Plan: A type of employee benefit plan that allows employees to become owners of stock in the company they work for. Under this program, shares are regularly allocated to employees, often at no direct cost to them, with the potential for employees to gain a significant ownership stake over time.
Usage Examples
- Noun:
- The company introduced an ESOP to align employee interests with those of the shareholders.
- Participation in the ESOP helped her build substantial savings for retirement.
- After ten years in the ESOP, the employees collectively owned a large portion of the firm.
Advanced Usage
- "to be vested in an ESOP": To have earned the right to the full ownership of the ESOP shares allocated to you, typically after a certain period of employment.
- Once you are fully vested in the ESOP, you can keep the shares even if you leave the company.
Variants and Related Words
- ESOPs (n): The standard plural form of ESOP.
- Many tech startups use ESOPs to attract top talent.
Synonyms
- Employee ownership plan: A general term for any plan facilitating employee ownership.
- Stock bonus plan: A similar type of deferred compensation plan where a company contributes its own stock to a trust for employees.
Noun
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a program under which employees regularly accumulate shares and may ultimately assume control of the company
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