Flatbed group Daseke Inc. announced some of the details associated with its grant of publicly traded shares to employees, especially drivers.
Beginning in June, the Addison, Texas-based corporation will make its first grants to employees who have been with the firm since Dec. 31, the company said in a May 23 statement.
The company, which has 11 open-deck and specialized carriers, will be awarding about 1 million shares to 2,100 company drivers and 800 other employees.
The shares are worth about $9.9 million and represent 3.7% of the 26.9 million shares that were outstanding, on average, during this year’s first quarter.
“We want professional truck drivers and all our support team employees to have ownership in Daseke,” Chairman and CEO Don Daske said.
“A driver stock program was something I have been passionate about from the very beginning. This is about being an owner. We want people to come together, be empowered and build our company with the mindset of ownership,” Daseke said.
The company said that all employees who are part of a Daseke company in 2017 are eligible for a stock grant, as long as they have a full quarter of employment with the company.
Daseke Inc. went public Feb. 28, and in mid-March Don Daseke said part of the proceeds from the stock deal would be spread among drivers as a way to recruit and retain them.
The first quarter of this year was the first quarter for which Daseke reported results publicly. It had a net loss of $8.55 million, or 32 cents a share, on revenue of $160.4 million.