Congratulations on being an owner of Commonwealth Fire Protection! Once a year you’ll receive your annual statement. Your statement shows how many shares you have earned in your Employee Stock Ownership Plan (or ESOP) account and the dollar value of your account. Your statement covers the total value of your account as of the plan year-end.
The image below is only a sample and the numbers in your statement might be different.
Your Share of the Contribution 20xx
The amount added to your account by Commonwealth Fire Protection during the time period covered by this statement.
Your Total Account Balance 20xx
The total value of your account as of December 31st, 20xx.Current Market Value Per Share
Current Market Value of one share of Commonwealth Fire Protection stock.
The share price is determined annually by an independent third party that reviews our financial performance and projections. This process is called a
“valuation”. Everyone’s shares have the same share price.
Your Vested Percentage
The percentage of your ESOP account that will not be taken back if you leave Commonwealth Fire Protection. Commonwealth Fire Protection has a 6- year vesting schedule, so you keep 100% of your account after 6- years.
Your Vested Account Value
The value of your account balance that is yours and will not be taken back if you leave the company. Once you have 6 years of service with Commonwealth Fire Protection, you will be 100% vested. A year of service for vesting is defined as a year in which you work at least 1,000 hours.