ELI5: Explain Like I'm 5


An ESOP, or Employee Stock Ownership Plan, is a retirement plan that some companies offer to their employees. This plan lets employees use company stock to save for retirement. Whenever employees get money from the company, some of it is put into their ESOP accounts. The money in these accounts can be used to buy stocks that the company owns. Over time, the value of the stocks can go up and the employees can use the money in the account to get retirement money when they stop working.