Tanimura & Antle
Employee Owned
In 2017, the Tanimura and Antle families decided to sell part of the company to our employees, to recognize how much our employees are appreciated. Employees receive ownership simply by continually working for the company without any monetary investment of their own. An Employee Stock Ownership Plan (ESOP) was a business decision as we plan for the next phase of our company’s success. Since our founding, we have been committed to providing a safe, happy and productive work environment for our employees; when we launched our ESOP, we took the next step in that commitment. Our business was built on partnerships and relationships with our employees, and an ESOP helps us to build upon that legacy for the years to come. However, to participate, employees must meet certain requirements to qualify for our ESOP.
EMPLOYEE OWNER REQUIREMENTS
12 Months of Consecutive Employment
1000
Work Hours
Domestic Work
Status
18 Years
of Age
Meet Marissa
Lets look at an example of a Tanimura & Antle employee’s ownership journey. Before we dive in, learn more about the basics of what an Employee Stock Ownership Plan (ESOP) is by clicking here.
June 2019
Marissa is a 30-year-old employee who lives in Madera, California. With her new job at Tanimura & Antle, Marissa moves into our employee housing, Spreckels Crossing. She begins her employment working on one of our romaine heart harvest crews on June 15, 2019, working in the Salinas, California, season.
November 2019
Marissa worked to the end of the Salinas season in November and was placed on seasonal layoff status by the Company (Although on seasonal layoff, she is still considered an active employee). She has not worked 12 consecutive months yet and worked a total of 800 hours in 2019. So, in 2019, she will not be eligible to participate in the ESOP. Learn more about eligibility here.
March 2020
Marissa returns to work for Tanimura & Antle in March for the new Salinas season. She is excited to move back into Spreckels Crossing and see her roommates again!
June 2020
On June 15th, 2020, Marissa completed her first 12-months of consecutive service with the company (12 consecutive months of service of active status).
November 2020
Marissa continues to work after her 1-year anniversary until the end of the 2020 Salinas season in November. She worked a total of 1350 hours in 2020. Marissa is over 18 years old, she is a domestic employee, she obtained 12-months of consecutive service and she worked more than 1000 hours in the 2020 Plan Year.
Marissa is now eligible to participate in the ESOP!
March 2021
Marissa decides to continue her employment with Tanimura & Antle the following Salinas season. She is glad to work for a company that provides her with a 401k, heath benefits (vision, dental, health), access to employee housing, seasonal bonuses and the ability to be an employee owner!
July 2021
In July, Marissa receives her first annual ESOP statement. The statement shows that she received 171 shares in her first year. The shares are worth $10.80 each and she has $1,847 total in her account. However, the statement shows that she is vested at 0% so she does not have any vested value this year. To learn more about vesting, click here.
July 2025
Marissa has remained a loyal employee owner at Tanimura & Antle and has returned to work year after year. She receives her annual ESOP statement in July 2025 and is excited to see that she is now fully vested. The share price of the company has risen to $13.80 over the years, she now has 1026 shares and her account value and her vested value now match for a total of $14,159. Marissa is excited to continue to watch her account grow in the years to come!
ESOP RESOURCES
Submit Questions
Submit questions you have about the ESOP here and we’ll answer them in future educational communications.
esop@taproduce.com