SRS Distribution created a new incentive plan, the Equity Growth Incentive Plan (EGIP), designed to benefit employees on the front line. The EGIP is a projected $20 million investment that will provide employees not part of the company’s equity program to participate in SRS’s equity value. The EGIP will benefit drivers, loaders, and inside sales personnel. According to SRS, the EGIP complements the company’s existing stock option and direct equity investment plans.
“Broad equity ownership has always been a key part of our company’s strategy to align employee engagement level, focus, and drive for long-term growth and shareholder value creation,” CEO and president Dan Tinker said in a news release. “Our board of directors and senior management team recognized the opportunity to do something bold and creative that would allow every single employee in the company to benefit from their hard work and efforts going forward.”
Tinker said the investment in the EGIP represents the largest amount of equity capital allocated to front-line employees in the history of the industry.
McKinney, Texas-based SRS Distribution is a distributor of building products. The company, a portfolio company of Leonard Green & Partners and Berkshire Partners, ranked 7th on the 2019 ProSales 100 list. The distributor operates a family of distinct local brands encompassing more than 350 locations across 44 states.
