ACT1 Federal has transitioned to a 100% employee-owned company under a program called the ACT1 Federal Employee Stock Ownership Plan.
“It is a very exciting time for ACT1 and for our new employee-owners and customers as we enter our 26th year as a company,” said ACT1 President and CEO Mehdi Cherqaoui. “We are proud of our legacy, and with this ESOP we are well-positioned to continue to grow and delight our customers. It’s both a way to reward our hardworking employees, and to build on our business continuity. In addition, employee-owners are highly motivated since they know that their effort directly impacts their benefits.”
ACT1 Chief Financial Officer Andrew Hill said the transition won’t change ACT1’s day-to-day operations, management or “continued focus on exceptional service to our customers.”
“The ACT1 leadership team will continue to run the company,” he said. “The primary difference is that the company stock is now held by a trust on behalf of ACT1 employees.”