Securityhunter, Inc. Announces Its Employee Stock Ownership Plan (ESOP)
Baltimore, MD: December, 2021
Securityhunter, Inc. located in Baltimore, Maryland, is now 30% Employee Owned
After 33 years in business, Securityhunter, Inc. has made an exciting ownership change and is now 30% employee owned. Vested employees will share beneficial ownership in the growth of the company and will be credited with shares of Company stock within the ESOP trust each year at no cost, allowing them to earn ownership and accumulate tax-deferred retirement wealth through their service.
Founded in 1988, by Michael S. Rogers, Securityhunter grew from a one-man burglar alarm company to being one of the nation's top federal security integrators. The Baltimore-based company targets security solutions which support a wide range of government security initiatives. They manufacture, design, install and maintain electronic and information security countermeasure systems for government facilities. Securityhunter offers professional security support services, and assists U.S. federal, state and local agencies with assessments and management of security tasks for mission critical operations.
According to Rogers, “I’ve been trying to do this since 2014. We just never gave up on figuring out how to endow our employees with the amazing benefit of sharing in the ownership of our company. Many thought it was a waste of time and many didn’t take it seriously. I knew it was too important to our employees so we kept pursuing and after seven years, here we are". He added, “I am thrilled to have our people as employee-owners."
Securityhunter Board of Directors member, Alan Silver said, “It was the right thing to do. The success of the company should be beneficial to the team that helped build the value as well as to the selling shareholders."
Of the ESOP, Executive Director, Ross Nelson says, “It’s still very new. Our people are still getting used to the concept and feeling out what it means to each of them individually. However, it is a rare and valuable benefit that is not often found in today’s workplace. It gives our employees the means to improve their long-term wealth just by performing well at work. That’s a powerful thing."
Mrs. Irene Montague, Director of Human Resources and the most tenured staff member of Securityhunter, said of the ESOP, “Securityhunter has always been a great place to work. The leadership (Mike and Ross) is very thoughtful and in desiring growth, have not just focused on the Company, but the employees as well and this gesture proves it even further. To see where we have come from is absolutely amazing. Securityhunter is extremely blessed."