COLUMBUS MCKINNON CORP
For the period ended Mar 31, 2024. Filed May 29, 2024.
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FY2024 · Filed May 29, 2024
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Employee Stock Ownership Plan ("ESOP")
- Employee Stock Ownership Plan ("ESOP")
Effective January 1, 2012 the ESOP was closed to new hires. Prior to this date, substantially all of the Company’s U.S. non-union employees were participants in the ESOP. Additionally, during the year ended March 31, 2015 the final loan payment was made by the ESOP to the Company and there wasno compensation expense recorded in fiscal years 2024, 2023, or 2022.
At March 31, 2024 and 2023,160,000 and 177,000 of ESOP shares, respectively, were allocated or available to be allocated to participants’ accounts. There areno shares of collateralized common stock related to the ESOP loan outstanding at March 31, 2024 andno ESOP shares were pledged as collateral to guarantee the ESOP term loans.
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