Chantilly, VA – Integrity Applications Incorporated (IAI) announced today that it has implemented a new Employee Stock Ownership Plan (ESOP) benefit. The ESOP, which is in addition to current Company health, welfare and retirement benefits, will allow employees to earn stock in the company over time. The ESOP is designed as a long-term retirement benefit. The ESOP can reward employees for their innovation and strong performance and will help IAI to continue to attract and retain experienced and dedicated employees nationwide. No one has a stronger interest in caring for and promoting the success of a business and its customers than the people who benefit from that success.
“For a number of years now, IAI has looked for ways to allow employees to share more in the company’s success,” said Joe Brickey, Chairman and CEO. “An ESOP seemed like a perfect solution that would allow IAI to provide a path to ownership for all employees while, at the same time, giving employees an additional way to save for their future retirement. The benefit to an ESOP is the longer you stay with the company, the longer you’ll have to accumulate stock. If we are able to continue to do the right things for our customers and for the company, there is a much greater opportunity for all to prosper.”
The ESOP Plan has an effective date of January 1, 2015. All employees who are active with IAI or its wholly owned subsidiary, Pacific Defense Solutions, as of July 31, 2015, became ESOP participants on July 31, 2015. Otherwise, employees hired after this date will enter the ESOP on June 30 or December 31 after completing 12 months of service with at least 1,000 hours of credited time. Eligible employees will earn a yearly allocation of stock based on their relative percentage of total eligible compensation. Available ESOP shares will be allocated over the next five years. Initially, the ESOP will own only a small percentage of the company with the potential to grow over time.
By offering IAI employees an ESOP benefit, IAI continues to demonstrate that it is an employer of choice willing to invest in the long term security of its employees and their families and in building a legacy for its customers. IAI is currently hiring and is always looking for high quality people dedicated to our customers’ mission success. IAI careers are as diverse as the customers we support and the people who make up IAI. To apply for open positions at all IAI locations, visit IAI’s Careers website.
IAI is an engineering and software services and solutions company with a nationwide presence primarily supporting the intelligence community and other civil, defense and intelligence customers, with a focus on government space and intelligence surveillance reconnaissance systems activities. IAI’s headquarters is in Chantilly, Virginia. IAI also has offices in California, Colorado, Hawaii, Maryland, Massachusetts, Michigan, New Mexico, Ohio and Pennsylvania. IAI employees work on customer sites nationwide.
Founded in 1999, IAI is a veteran-owned business with a well-deserved reputation for quality, responsiveness and excellence. Our success is a direct result of superior performance, timely results, and the high-quality of IAI’s people, many of whom enjoy well-established reputations within the defense intelligence community and with the commercial customers that we support. IAI offers our government and commercial customers breakthrough products, services and end-to-end solutions designed to provide our customers with competitive advantage. We dedicate ourselves to exceeding our customers’ expectations and demands. Simply put, we live by our name.