2022 ESOP Valuation Announcement & the 100% "Vested"
Despite the recent economic downturn, 2022 was a good year for Salem Fabrication Technologies Group, Inc. regarding ownership interest in the form of shares.
At our company “huddle” today, the share value of Salem’s employee-ownership stock was revealed by special guest, James Bonham, President of The ESOP Association.
Our stock share values increased 21% over 2021’s valuation. This was especially good news in this economy and considering the 19.4% drop in the valuation of S&P 500 companies in the same period.
Additionally, this year several of our colleagues became 100% vested in the ESOP (Employee Stock Ownership Plan). As is tradition to commemorate their milestones, each were awarded an embroidered vest by Salem CEO, Mike Willard.
Join us as we congratulate the following employee-owners:
Andrew Blakeley (pictured)
Leslie Ellis (pictured)
David Offredi (pictured)
Scott Poland (pictured)