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YOUR WEAL TH Quick Contact Details:
Gray’s Benefits team in the
Employee Stock Ownership Plan (ESOP) Human Resources department

Who can participate? Why did Gray create an ESOP?

All full or part-time team members are eligible to Provides a vehicle for Gray to remain
participate once the following criteria are met: independent should the Gray Family
wish to sell all of its interest.
• Must have completed one full year of
service, with no break in employment. Offers tax advantages that
• Must have worked at least 1,000 benefit all owners.
hours in the one-year period.

Fosters a common focus on growing
After all criteria has been satisfied, you will enter stock value through enhanced team
member alignment and focus.
the plan on either January 1 or July 1 (whichever
date comes first after you become eligible).
Helps recruit and retain talented
people with an additional
valuable retirement plan.

STOCK V ALUE 101

Stock value is determined by an independent valuation firm hired by the
Trustee. In Gray’s case that is Stout, a leading firm serving companies 01
with ESOP ownership.

02 The valuation firm uses a number of valuation methodologies,
including real-world market data, to determine a value for the stock.
The Trustee reviews and approves the valuation before it becomes final.

Consistently growing profits is the most important determinant of value.
General and industry-specific economic trends are also factors.Gray’s 03
specific financial performance is by far the most influential.

Gray Benefits 38