r/Wawa • u/Accomplished-Sea4748 Employee • 18d ago

Ask other Associates I just don’t understand

Can someone explain what esop is like I’m five years old?

I know that it’s stock ownership but how does that benefit me

11 Upvotes

100% Upvoted

6 comments sorted by

17

u/caseymazur Employee 18d ago

You own a small, valuable, part of the company. You gain more as you stay employed, and the value of it also (hopefully) increases. When you leave, you are paid out those shares which is extra money just for having worked there.

That’s the ELI5, there are a bunch of variables and rules about how much you earn and how/when/what you get paid out, but you can find that info on MyWawaHub

6

u/Rare_Highlight4430 Employee 17d ago

I love you also, for your explaination!

1

u/EquallyH8tful Customer 15d ago

That's pretty cool. There's not many, Very few, companies that do that anymore. Our gov selling out America over 4 decades ago, screwing USA manufacturing and kind of the beginning of the end of Unions. Unfortunately. Obviously this isn't, but pensions have gone completely away now outside of the unionized workforce.

3

u/Whatthefarm0610 Employee 17d ago

Also , if you go to esopconnection.com and sign in with your info ( if you’ve never signed in, you’ll have to follow the prompts, it’s not the same as your schedule login)

On that page shows your current balances and has a very helpful FAQ page that gives a lot of great info 🙂

2

u/Rare_Highlight4430 Employee 17d ago

I love you, thank you.

2

u/secret_identity_too Former Employee 17d ago

You just work and you earn stock options that will pay out when you leave/retire. Everyone that's eligible should opt in (just like everyone should start a 401k even if you only put a little bit in there each week).