Employee Owned Big G Express Celebrates Ten Years of Employee Ownership and Announces a 10% Stock Price Increase

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Aug 07, 2019, 10:22 ET

NASHVILLE, Tenn., Aug. 7, 2019 /PRNewswire/ -- Big G Express announced a stock price increase of 10%--from $44.76 to $49.40 a share—at their tenth Annual ESOP meeting. Over four hundred employee owners and family members attended the milestone celebration of employee ownership.

Big G Express celebrated their 10th year of being employee owned at their Annual ESOP Meeting and Family event at the Nashville Zoo on July 13, 2019. Employee owners and their family members enjoyed a catered lunch, face painting, animal encounters and a meeting that announced the 2018 stock price increase. In 2009, the Big G Express stock price was $5.88 a share and the 2017 stock price was $44.76. President, Randy Vernon, announced the 2018 stock price of $49.40. Employee Owners received their stock statements and shared their excitement with their co-workers and family members! One professional driver showed his balance increase from $82,000 to $103,000. Retiree, Wayne Shockey, and his wife joined us for the event. He retired from Big G after 15 years in 2015 and received his ESOP balance of $89,000 at the end of 2016. Big G had a driver retire at the end of 2018 after 20 years of service. His ESOP balance is the highest driver retiree balance to date. His 2017 ESOP Balance was around $112,000 and his final 2018 balance was up to $137,000!

The company became an employee owned in 2009 when the ownership group sold 100% of the stock in Big G to the Employee Stock Ownership Plan (ESOP) instead of selling to a larger carrier or an investment group. This decision allowed the people that had built the company, those who were the backbone and involved in the day to day operations, to reap the benefits.

The ESOP benefit has grown significantly since 2009 with increases in stock price each year and contributions to active employee accounts based on their compensation and years of service. With no money required out of their pocket, the only investment Big G Employee Owners make is their time. As of the end of 2018, over $3.5 Million in ESOP distributions had been made to those who retired or separated from Big G.

"Driver account balances increased 39% on average from 2017 to 2018 with the average balance being $38,800, and thirty three driver balances over $100,000," said Randy Vernon, President. "Big G's ESOP is a great investment in our most important asset—OUR PEOPLE!"

"It is exciting to see the increases in our retirement accounts," said Jodi Lamb, Manager of Marketing. "The ESOP is more than just sharing the wealth. Employee ownership makes our company better because every employee has a real stake in the company's success!"

About Big G Express, Inc.:

Big G Express is a 100% employee owned, asset based carrier providing truckload services to customers nationwide. Founded in 1995 by Pat and Jack Marsh, Big G Express became 100% employee owned through an Employee Stock Ownership Plan in 2009. An ESOP is a tax qualified employee benefit plan that gives the employees of Big G Express a beneficial ownership in the company. Big G has grown to over $110 million in annual revenues and has over 750 employee owners. Big G Express, Inc. is headquartered in Shelbyville, Tenn. with terminals in Mt Juliet, Tenn., Russellville, Tenn. and Jeffersonville, Ind. www.biggexpress.com

SOURCE Big G Express, Inc.