ESOP
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100% JOMA

JOMA is 100% Employee Owned

We're thrilled to announce our transition to an Employee Stock Ownership Plan (ESOP) structure. This means our dedicated team members are now co-owners, fostering an even stronger commitment to excellence and collaboration. This innovative structure further reinforces the company's 4 core values of Continuous Improvement, Teamwork, WOW Customer Service, and Do the Right Thing. JOMA remains committed to maintaining its high standards of quality and service. The team is excited about their continued role as the go-to remodeler in Athens and to grow and evolve alongside the community they serve. Thank you for being part of this exciting journey!

What is an ESOP?

An Employee Stock Ownership Plan (ESOP) is a retirement benefit that transforms employees into partial owners of the company. Through ESOPs, employees not only contribute to their own financial future but also share in the company's profits, aligning their interests with overall business performance. This innovative approach to ownership cultivates a collaborative culture, propelling the company forward while enhancing employees' financial well-being. Join us in embracing the power of ESOPs and collectively shaping a prosperous future.

  1. Ownership Opportunity: ESOPs (Employee Stock Ownership Plans) offer employees the chance to become partial owners of their company, sharing in its success and growth.
  2. No Cost to Employees: Employees don't have to buy shares in the company; ESOPs provide them with ownership without any personal financial investment.
  3. Retirement Benefits: ESOPs complement existing retirement plans like 401(k)s, helping employees build wealth for their post-working years.
  4. Profit Sharing: ESOPs can distribute profits to employees as an additional bonus, rewarding their contributions to the company's prosperity.
  5. Alignment of Interests: ESOPs align employees' interests with the company's long-term success, fostering a strong sense of teamwork and dedication.



Meet the Board of Directors

Our 2023 Board of Directors includes our own John Newland and Jeff Squier as well as two outside directors, Fred Reikowsky and Susan Kirkland. Our Trustee is Steve Martin of Argent Trust Company and we couldn't have done this without the help of an amazing group of professionals, most notably, Stephen Smith.
Stephen D. Smith,
ESOP Consultant
Mr. Smith was a member of the Indianapolis-based law firm of Krieg DeVault LLP from 1983 through 2017 where he dedicated his practice primarily to structuring ESOP transactions and designing equity and non-equity-based executive compensation programs. During that period, he structured over 350 ESOP transactions for public and private companies throughout the country. Mr. Smith was the founding Chairman of his firm’s ESOP Practice Group and served as Chair of the ESOP Association Interdisciplinary Advisory Committee on Fiduciary Issues. Click below if you would like to contact Mr. Smith to see if an ESOP is right for you.
Contact

2023 JOMA ESOP Kickoff Party

How To: Remodeler - 100% Employee Owned


Watch our ESOP discussion to discover how we got to the point of employee ownership and how it impacts our business and ourselves. HTR is our remodeler-to-remodeler business series that helps us accomplish our mission statement: To improve ourselves, our community, and our industry, one project at a time.

LISTEN ON ATHCAST: Matthew Pulver's new podcast featuring local stories that matter to you. JOMA ESOP starts at 4:00.

Photo of Chris K.

The ESOP Association
Members since 2023
Picture of Chris P.
National Centers for Employee Ownership

We're Listening

Let us know if you have questions about JOMA ESOP.
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