100% Employee owned
As of January 1st, 2021, PSPI implemented an ESOP (Employee Stock Ownership Plan) where 100% of PSPI’s stock was put in a trust to be distributed over time to team members meeting the general criteria below. Each qualified team member becomes a partial owner of the company, with stock being distributed each pay period based on time of service and rate of pay. This benefit is geared to reward owners for their hard, work as seen in the growth of the company’s bottom line. The program is completely funded by the company and no employee contributions are required or allowed.
The requirements for our program are:
- Complete 12 months of continuous service prior to being admitted to the plan.
- Work a minimum of 1,000 hours per year.
- Be at least 21 years old.
Our ESOP was designed to reward employees who believe in the Company, its leadership, and its mission. Over the past 20+ years, the voices and contributions of our team members have created a dynamic and inclusive work environment, with every member fully invested in the process. With the ESOP, employees (owners) can now take even more pride in what they do as we all work to continue being California’s on-site fueling and propane leader.
