McLean is a 100% Employee Stock Ownership Plan (ESOP) Company. Rather than ownership by one or a few members of the management team or outside investors, the company is entirely owned by employees by virtue of their employment by the Company.
The plan is managed by an outside third party administrator who ensures the plan complies with Federal regulations. Each employee has an account that includes a number of shares of company stock.
- The amount in each account is determined annually by a formula that includes the number of employees, valuation of the Company and other variables.
- All contributions to employee account are made by McLean, and employees receive annual notification of the value of their accounts.
- Employees are not required to contribute anything towards ownership of Company stock, nor are they able to voluntarily buy or sell shares of stock.
- Employees receive a taxable payout of their account only upon termination or retirement from McLean.
Because every employee is an owner of the Company, employees are motivated to work to work together towards producing excellent results. This pride of ownership is what make McLean successful.