Appvion

/Tag: Appvion

Appvion workers learn their employee stock is likely worthless

Appvion’s public announcement last week of its proposed sale left out a significant detail. The paper company has an Employee Stock Ownership Plan (ESOP), which means the company is owned by its employees. If the proposed $325 million bid by an unnamed lender is successful, the ESOP will have no value and employees will lose the shares they expected