Building products distributor SRS Distribution announced that two-thirds of its employees will share a distribution of over $250 million as part of the company’s equity programs. The distribution is part of the company’s goal to provide broad-based equity incentives and ownership opportunities for its employees.
“We are committed to changing our employees’ lives for the better,” SRS president and CEO Dan Tinker said in a prepared statement. “Throughout our history, we have focused on providing unique and substantial benefits to our employees, including broad equity participation that drives engagement and loyalty. We are excited to announce this distribution of over $250 million to more than 4,300 truly deserving SRS employees for all that they do to drive value for our customers and that we believe is unprecedented in our industry’s history.”
SRS also grants stock options tomahy of its employees, including its branch managers, and the distributor recently expanded its equity incentive programs by creating the Equity Growth Incentive Plan. The plan provides front-line employees not already part of the company’s stock option program, such as drivers, loaders, and inside sales representatives, with the opportunity to participate in the growth of SRS’s equity value. According to the company, SRS has grown its employee base by approximately 50% over the past three years.
McKinney, Texas-based SRS Distribution is a portfolio company of Leonard Green & Partners and Berkshire Partners. SRS operates a family of local brands encompassing more than 450 locations across 45 states.
