On April 22, 2024, First Financial Security, Inc. (“FFS”) rang the ceremonial opening bell of its first trading session at its annual incentive trip in Punta Cana, DR, in front of 200+ top-performing agents, leading carrier representatives, and home office staff. The opening trading session lasted just over two weeks, officially opening at 10:30 am on April 22 and closing at 8:00 pm on Monday, May 6.
During the open trading session window, FFS Restricted Stockholders accessed an online private secondary market trading platform to easily trade their private stock awards between other existing owners of FFS. Earlier this year, FFS partnered with an industry leader to provide technology solutions for its private market stock trading needs. The proprietary technology has serviced some of the world's most innovative private companies with their liquidity needs for employees and institutional investors. FFS is proud to be part of their $50+ billion in executed transactional value across 650+ company-sponsored liquidity programs.
"We were pleased to announce the partnership with the trading platform, as we now have the vehicle to deliver on a long-standing promise to our dedicated agents," said FFS Chairman Phil Gerlicher. "The FFS Restricted Stock Plan was a big milestone in our commitment to those agents by allowing them to directly benefit from our continued growth. Through this new innovative platform, we can now reward the independent contractors who help contribute to our collective success."
In 2023, FFS established a Restricted Stock Plan to allow its top performers to become actual owners of FFS. Independent contractors who work with FFS and achieve specific production requirements in a calendar year receive restricted stock awards in the form of non-voting common stock, allowing them to experience increasing value as FFS grows and to participate in the company's future gains. Since introducing the Restricted Stock Plan, the non-voting common share price has increased by nearly 65%. This increase, coupled with the record-breaking year FFS has had, is a clear indicator of the potential future success FFS and its shareholders will have.
