by: The National Center for Employee Ownership
Source: The National Center for Employee Ownership
Green Mountain Coffee would have to rank high among publicly traded companies in its commitment to employee ownership. In 2002, the company borrowed $2 million to fund an ESOP for its 500 employees, but it also has a stock purchase plan in which 45% of the employees participate and a stock option plan. There is a 15% discount on stock in the purchase, with the price based on the price on the first day or last day of the quarter in which the employee enrolls in the program, whichever is lower. In addition, all fulltime employees who have been with the company for at least a year get 100 options as well as additional option grants based on merit. Managers also are heavily invested in company stock through options and stock purchases. At of the beginning of this year, management owned just over 50% of the company, mostly through ownership by Green Mountain's founder and CEO, Robert Stiller. The company's 401(k) retirement plan, given the other ownership vehicles for employees, does not include company stock. The company matches employee contributions into the plan.
Link: Green Mountain Coffee
Publication Date: 2004-01-01