Employee Ownership

We believe that our employees should share in our company’s success in a real and tangible way. In 2006, Coborn’s, Inc. established an Employee Stock Ownership Plan (ESOP) so that the people who help make the company profitable, get to share in the profit. Being an ESOP participant means that employees are part owners of the company and that they benefit financially from a job well done. This is a powerful incentive for employees to work hard and take pride in their work. Coborn’s, Inc. employees drive our stores to perform at a high level because that’s what our customers deserve. Our stores are clean, shelves are well-stocked, prices are low, and employees are friendly. Holding ourselves to high standards creates long-term financial stability for our employee-owned company and our employee owners. Since our ESOP was created, our stock value has increased an average of 16 percent every year. This growth is planned and deliberate. It is the result of a strong, dedicated team working hard, and taking pride in serving their hometown community.  How the ESOP works Employees become a participant in the ESOP after meeting the following criteria:
  1. Completion of one year of employment
  2. Reaching 21 years of age
  3. Accumulating 1,000 hours per year of employment
Once the employee fulfills the eligibility criteria, they enter the ESOP and become a participant. Each year thereafter that the employee works 1,000 hours or more in a calendar year, they are eligible to receive shares of Coborn’s, Inc. stock in the ESOP. The Coborn’s, Inc. ESOP is comprised entirely of company contributions. It does not involve employee contributions.