SRS Distribution investing in front line employees
SRS Distribution has created a new employee incentive program aimed at benefiting employees on the front lines.
The equity growth incentive plan (EGIP) is a projected $20 million investment that provides employees not part of the company’s equity program with the opportunity to participate in SRS’s equity value. This includes drivers, loaders and inside sales personnel.
The McKinney, Texas-based company said that the program also complements the company’s existing stock option and direct equity investment plans. SRS has more than 5,000 employees.
“Broad equity ownership has always been a key part of our company’s strategy to align employee engagement level, focus, and drive for long term growth and shareholder value creation,” said Dan Tinker, president and CEO of SRS Distribution.
“Our board of directors and senior management team recognized the opportunity to do something bold and creative that would allow every single employee in the company to benefit from their hard work and efforts going forward,” Tinker explained. ”This program accomplishes that objective in a big way.”
The building and roofing products distributor operates more than 350 locations in 44 states.
Tinker said that the investment program represents the largest amount of equity capital allocated to front-line employees in the industry’s history,
“All team members of SRS now have the opportunity to take pride in ownership and help SRS exceed its goals and objectives - to be the strongest national network of independent building products distributors with the industry’s best products, service and people,” he said.
SRS Distribution is a portfolio company of Leonard Green & Partners, L.P. and Berkshire Partners LLC with over 1,000 employee investors.
The equity growth incentive plan (EGIP) is a projected $20 million investment that provides employees not part of the company’s equity program with the opportunity to participate in SRS’s equity value. This includes drivers, loaders and inside sales personnel.
The McKinney, Texas-based company said that the program also complements the company’s existing stock option and direct equity investment plans. SRS has more than 5,000 employees.“Broad equity ownership has always been a key part of our company’s strategy to align employee engagement level, focus, and drive for long term growth and shareholder value creation,” said Dan Tinker, president and CEO of SRS Distribution.
“Our board of directors and senior management team recognized the opportunity to do something bold and creative that would allow every single employee in the company to benefit from their hard work and efforts going forward,” Tinker explained. ”This program accomplishes that objective in a big way.”
The building and roofing products distributor operates more than 350 locations in 44 states.
Tinker said that the investment program represents the largest amount of equity capital allocated to front-line employees in the industry’s history,
“All team members of SRS now have the opportunity to take pride in ownership and help SRS exceed its goals and objectives - to be the strongest national network of independent building products distributors with the industry’s best products, service and people,” he said.
SRS Distribution is a portfolio company of Leonard Green & Partners, L.P. and Berkshire Partners LLC with over 1,000 employee investors.