Phacil Becomes an Employee-Owned Company< Back to news
Phacil, a leading provider of mission-focused technology solutions to the Federal Government, announced that effective December 28, 2016, Phacil is an Employee-Owned company. A new benefit program called the “Phacil Employee Stock Ownership Plan” (“ESOP”) will now become available to employees.
An ESOP is a benefit plan designed to provide employees with an ownership stake in the Company. It is a long-term plan, which rewards employees for remaining with the Company and growing it over time. “Nearly 9,000 successful companies across the United States are substantially or entirely owned by their employees,” said Tom Shoemaker, Phacil Executive Chairman and Chief Executive Officer. “The ESOP success formula is simple: Employee-owners make great employees. Employee-owners know that their efforts can help them gain a benefit that is greater than just their salary.”
Mehdi Cherqaoui, Phacil Executive Vice President and Chief Financial Officer added, “Becoming an employee-owned company will not change Phacil’s day-to-day operations or management. The executive and senior management team will continue to run the Company. With the ESOP, Phacil remains the same. The primary difference is that the Company stock is now held by a trust on behalf of Phacil employees.”
Mark Cabrey, Phacil President and Chief Operating Officer added, “It is a very exciting time for Phacil and our employees as we begin our 16th year of existence as a firm. We are proud of the past and well-positioned to move forward as a company given the continuity of operations an ESOP provides.”
Phacil is a leading employee-owned provider of mission-focused, results-driven technology solutions to the Federal Government. With consistent focus on technical excellence, exceptional contract performance, and quality results, customers have come to trust Phacil to solve their most complex challenges. Phacil’s diverse range of mission-focused solutions in Software Services, Systems Engineering, Integration & Operations (SEI&O), Cybersecurity, and Service Desk operations enables our team of over 800 technical professionals to effectively serve our customers throughout the U.S. and overseas.
Learn more about Phacil at www.phacil.com.