The ESOP is designed to provide beneficial ownership of Bayview Stock for eligible Employees (of Bayview and its Affiliates) who participate in the ESOP—the people who are primarily responsible for the business of Bayview and its Affiliates—and their Beneficiaries. The ESOP is intended to provide you with a meaningful stake in the economic performance of Bayview and ultimately, an additional source of retirement income. Your ESOP gives you a unique opportunity to acquire a beneficial interest in Bayview Stock at no direct cost to you.
The success of Bayview depends on the teamwork and performance of all Employees. At every level of job responsibility, the efforts and devotion of many individuals will help Bayview achieve its business objectives. Building employee-beneficial stock ownership is an especially appropriate way to recognize your contribution to Bayview’ business.
Along with this beneficial ownership, however, comes the special responsibility that you owe to your fellow beneficial owners of Bayview. Through your participation in the ESOP, your stake in Bayview and its stake in you have increased significantly. Profitability should increase the value of your Bayview Stock; good work habits, efficiency and conservation will help accomplish this goal. No one has a stronger interest in caring for and promoting the business of a company than the people who benefit from its growth. That’s the whole idea behind your ESOP: as employee owners, you can see the mutual benefit of doing your best as you perform your job responsibilities with Bayview or its Affiliates.