FOOTHILL RANCH, Calif., (JUNE 14th, 2022) – First National Capital Corporation (FNCC), a full-service commercial equipment and aviation finance provider, has recently announced new heights of performance with their innovative employee equity program.
FNCC is very excited to announce the results of its most recent ESOP results. ESOP share value increased in 2021 by 50.6% due to the exceptional company results. Combined over the six-year time frame, the share value has increased an exceptional 42.5% per year. Combined ESOP share value for all employees is now an incredible $16.334 million, with average ESOP balances amongst all current full-time employees of $326,680.00 with the top eight employees averaging $851,994.00.
This is the second time in FNCC history where the company provided “equity” ownership to its employees, with the first being Stock Options that were redeemed simultaneous to the ESOP transaction. Those stock options represented $8.11 Million in cash to employees. Combined FNCC has provided equity opportunities and or cash distributions of $24.4 million.
Keith Duggan, CEO of First National, said “One of my most proud achievements since founding FNCC 17 years ago is to deliver on the promise that the company would not only provide exceptional income opportunities, challenging and rewarding work and a stable work environment through good times and bad, but additionally through “shared ownership/upside” we would give our employees “life changing” income and equity opportunities. Originally through our Stock Option plan where 17 of employees shared in the equity upside of FNCC, and then subsequently through the ESOP we are delivering on this promise”.