The ESOP Story

As we move through October, we continue to celebrate the company’s Employee Stock Ownership Plan (ESOP). The St. Louis Business Journal dug into the past and found the backstory of our ESOP, check out the below excerpt from the article:

October 12, 2018

As we move through October, we continue to celebrate the company’s Employee Stock Ownership Plan (ESOP). The St. Louis Business Journal dug into the past and found the backstory of our ESOP, check out the below excerpt from the article:

The solution he eventually came up with was unveiled this February: an employee stock ownership plan, or ESOP. Employees immediately received stock in DAS Acquisition, USA Mortgage’s parent company, worth an average of more than $8,000 apiece. They can earn more each year, and its value will depend on how the company performs.
Besides solving the issue of ownership continuity, the ESOP changed how employees approached their jobs. “It not only benefits your people, it’s empowering them,” Schukar says. “It’s changing their mindset.”

To read the full article, please visit: https://www.stltoday.com/business/columns/david-nicklaus/wake-up-call-le...