Destination: Excellence | Summer 2022

And the 2021 ESOP Share Price is...

In a year when TMC is celebrating its 50th anniversary, more exciting news was announced to drivers and staff this week. During the company’s 9th year under the Employee Stock Ownership Plan (ESOP), TMC saw its most significant growth yet. TMC became employee-owned in October 2013. CEO and Founder, Harrold Annett, had a desire to establish a succession plan that maintained the culture of TMC while rewarding employees for their dedication. All eligible employees are part owners at no cost to them through ESOP.

Over the last 9 years, TMC has shown growth each year. While the smallest growth TMC has shown was 11% in 2018, TMC has had multiple years where the growth per share staggered, including 2017 with a growth of 30% and 2014 with a growth of 44%. While the death of CEO, Harrold Annett, in 2021 lead to shares being redistributed among employees, it is not uncommon for TMC to see drastic growth year in and year out.

In 2021, it was revealed that TMC had a 60% growth per share ($6,516 per share), which is the largest increase yet. This was extremely exciting for TMC employees to see. From where the share price started in 2013, the company has seen over 500% in growth. TMC often refers to this as “free money.” The ESOP balances many employees have been able to accumulate over the last 9 years reach in the hundreds of thousands of dollars.