The Pinske Edge announced it is now a 100 percent employee-owned company. This announcement of the Employee Stock Ownership Plan & Trust (ESOP) was made to The Pinske Edge employees at a special meeting held at the company’s headquarters in Plato, MN. An ESOP is an employee benefit plan, which provides company stock to employees as part of their retirement benefits. As a 100 percent ESOP owned company, all of The Pinske Edge, Inc. stock is now held in trust by the ESOP exclusively for the benefit of The Pinske Edge employees. “I’ve been thinking about an ESOP for the last few years and I’m very happy that this has finally become a reality,” said CEO Tom Pinske. Establishing an ESOP achieves a couple of Tom’s goals for the company. First, he wants to reward his employees, many of whom have been with the company for more than 20 years; second, he wants to ensure that the company headquarters remains in Plato, MN, where his family has deep roots. “We are excited to become an employee owned company,” said Scott Nelson, President of The Pinske Edge. “We believe providing ownership to employees as a company benefit will lead to greater employee satisfaction, reduced turnover, and a more rewarding work experience. As a 100 percent employee owned company, we are able to create a companywide culture of employee empowerment and responsibility.”
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