Page 39 - Q2_2022_Rosendin_Corp_Newsletter

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Congratulations to Rosendin's Q2, 2022

EMPLOYEE-OWNERS

With more employees joining Rosendin each year, here are answers
to some of the most frequently asked ESOP questions.

What does ESOP stand for? How do you know what’s going on with your
account?
ESOP stands for Employee Stock Ownership Plan.
Each July/August, you will receive a statement of
your account in the mail. You can also check your
What does it mean to be an ESOP? account anytime at prinicipal.com.

Being an ESOP means that the employees are
owners of the company at no cost to them. How does vesting work? CA AZ OR
Employees get equity in the company and
retirement benefits. An ESOP is not a 401K. Vesting means that employees have to work for Ally B. Matthew W. Rebecca F.
a company for a certain period of time before
they become the owner of the stocks offered
When does my ESOP begin? through the ESOP program. To start vesting in your Bobby M. Salina B.

ESOP starts on January first of every calendar year. account you must participate for two (2) years. The Cody R. Thomas D.
You are an employee-owner on the day you are percentage of vesting is based on your years with
hired. Rosendin: Cyd M.
• 2 years = 20% vested VA
Jason Y.
How do I become eligible for ESOP? • 3 years = 40% vested HI

To be eligible, you must be 21 years old and work • 4 years = 60% vested Jess U. Trang V.
1,000 hours in the year you were hired.
• 5 years = 80% vested Jose C. Alissa B.

• 6 years = 100% vested
How much does the ESOP cost me? Maria G-E.
This means if you leave Rosendin you would get
Unlike publicly traded stock, you do not have to
pay for Rosendin stock. The amount of contribution the percent of money in your account equal to the Michael K. NC TX
is based partly on how much profit the company number of years of service.
makes. So, if the company does well, you do well. Rob M. Jacob M. Mai N.
For each Plan Year, Rosendin Electric, Inc. Who do I contact if I have questions?
contributes cash or shares of Company Stock to
the ESOP. Shares of Company Stock are credited to Contact Human Resources at hr@rosendin.com
your account based on a formula related to annual or visit the ESOP page on Rosendin's intranet and
pay. reach out to any Rosendin ESOP Trustee.
Visit rosendin.com/company/employee-stock-ownership-esop

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