This audiobook is narrated by a digital voice.

An employee stock ownership plan (ESOP) is a tax-favored employee benefit plan through which employees can become owners in their companies at no cost to themselves, at the same time that the company and its owners receive major tax benefits. ESOPs are most often used to buy out the owner(s) of a closely held business with tax-deductible corporate earnings, which can be done all at once or gradually, allowing shareholders to ease out of the business. ESOPs are also used to finance corporate acquisitions, enhance corporate performance through creating an ownership culture, and reward employees while providing the company with tax benefits. Thousands of companies have ESOPs, covering almost 15 million participants. This concise book explains how ESOPs work, what their rules and regulations are, how they are created and governed, and what their benefits are. The 20th edition has been heavily revised and expanded as of 2023.