Jasper Announces Record ESOP Value - Engine Builder Magazine

Jasper Announces Record ESOP Value

In just 15 years, Jasper has grown to be the 33rd largest ESOP in America.

Associate-Owner Shareholders of Jasper Holdings, Inc. Employee Stock Ownership Plan (ESOP) were presented on April 30th with some outstanding news. Jasper Holdings, Inc. Chairman/CEO Doug Bawel announced, “A new all-time record price of $1,123.90 per share based on their performance and market conditions. This is up $250.42 per share, a 28.7% increase in a very turbulent 2023, with inflation and increased interest rates.

“On average, our Associate-Owners added an additional 19.7% of their 2023 compensation into their ESOP accounts, through new share allocations and forfeitures,” Bawel continued. “This does not include the increase in their existing account balance of 28.7%. Our ESOP has truly been a game changer for our Associate-Owners in their retirement strategy.”

Bawel added, “Today, we have a total of 3,332 active Associate-Shareholders and have distributed over $609 million of stock in the past 15 years. Fifty-two percent of our Associate-Owners have greater than $50,000 in stock, and 37% of our Associate-Owners have greater than $100,000 in stock. This is in addition to our matching 401k retirement plan, which has over $315 million invested in a fully funded trust fund with a match of $6.9 million in 2023 – another all-time record.

“Today, our market capitalization is in excess of $1.6 billion, a $361 million increase over 2022. In just 15 years, we have grown to be the 33rd largest ESOP in America. Our Jasper family has been truly blessed by great customers who have been very patient through these material and labor shortages.

“Our success directly reflects our Associate-Owners and their commitment to do it right in these challenging times. We have been blessed with great Associate-Owners who have continued to stay focused on what is in our control, a never-ending commitment to improvements in safety, quality, productivity, customer service, and reduction of waste. We are extremely thankful and humbled with our success.”

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