Threaded Fasteners Becomes Member of Certified Employee-Owned

May 14, 2020

Threaded Fasteners is Certified Employee Owned

Threaded Fasteners has become a member of Certified Employee-Owned (Certified EO), the leading certification program for employee-owned companies in America. To become a member of Certified EO, companies must pass a rigorous certification process to demonstrate that their employees
own at least 30% of the business (exclusive of company founders), access to ownership is open to every employee, and the concentration of ownership is
limited. Fewer than 1 in 200 American companies are eligible to join
 Certified EO.

Certified EO is an organization that strives to create an employee-owned economy. Their certification program is combining the reach of employee-owned companies to create national recognition for this new approach to business. Certified EO works directly with members to help them make their employee ownership more visible to their workers, their clients, and their communities. Certified EO was founded in 2017 by Thomas Dudley and Kramer Sharp. The current membership includes over 175 companies and more than 120,000 employee-owners. To learn more about Certified EO, please visit www.certifiedeo.com.

EMPLOYEE OWNERSHIP ADVOCATE PROGRAM

The Threaded Fasteners ESOP Advocate program is a team of employee owners from each branch that will represent and promote employee ownership for their team. Advocates will travel to the home office for an all day training session that will give them the tools and information they need to be outstanding advocates for what it means to be employee owners. Part of their duties will be to provide tools and information to their local team on what employee ownership means to every level of owner. This new program is an exciting new way to grow our teams ownership participation! 

THREADED FASTENERS OWNERSHIP

On April 1, 2007,  employee owners of Threaded Fasteners Inc. purchased the shares of the majority shareholder Frank Martin. In 2012, the purchase was complete when the second owner, Steve Sholtis, sold his stock making TFI 100% Employee Owned.

The Threaded Fasteners Employee Stock Ownership Plan is a trust established for the exclusive benefit of the employees. Shares of stock are owned by the trust, and the trustees manage the trust. Each vested employee is a beneficial shareholder of the trust. The TFI ESOP is set up primarily as a retirement plan. 

 

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