SRS Distribution Inc. has created a new incentive program known as the Equity Growth Incentive Plan (EGIP), providing additional employees with the opportunity to take part in investment options.
The projected $20-million investment provides each employee not already part of the company’s equity program, such as loaders, drivers and inside sales, with the opportunity to participate in the growth of SRS’s equity value. The program complements the company’s existing stock option and direct equity investment plans.
Dan Tinker, president and CEO of SRS Distribution, said SRS' 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.
“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. This program accomplishes that objective in a big way," Tinker said.
Tinker said SRS aims to create a people-first culture and employ the most engaged teams of people in each market it serves. He said the investment in this program represents the largest amount of equity capital allocated to front-line employees in the industry’s history.
"Our mission statement of 'Make Money, Have Fun, and Give Back' and our new EGIP program propels our mutually beneficial approach to partnership, commitment, and universal engagement." Tinker said. "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.”