Employee stock ownership plan	9 Months Ended
Sep. 30, 2022
Employee stock ownership plan
Employee stock ownership plan	Note 5. Employee stock ownership plan Under the Mayville Engineering Company, Inc. Employee Stock Ownership Plan (the ESOP), the Company can make annual discretionary contributions to the trust for the benefit of eligible employees in the form of cash or shares of common stock of the Company subject to the Board of Directors’ approval. For the three months ended September 30, 2022 and 2021, the Company’s estimated ESOP (income) expense was ($152) and $124, respectively. For the nine months ended September 30, 2022 and 2021 the Company’s estimated ESOP expense was $1,668 and $825, respectively. At various times following death, disability, retirement or termination of employment, an ESOP participant is entitled to receive their ESOP account balance in accordance with various distribution methods as permitted under the policies adopted by the ESOP. As of September 30, 2022, and December 31, 2021, the ESOP shares, excluding safe harbor shares held in the Company’s 401(k) Plan, consisted of 5,684,879 and 7,292,392 in allocated shares, respectively.

Employee stock ownership plan

9 Months Ended

Sep. 30, 2022

Note 5. Employee stock ownership plan

Under the Mayville Engineering Company, Inc. Employee Stock Ownership Plan (the ESOP), the Company can make annual discretionary contributions to the trust for the benefit of eligible employees in the form of cash or shares of common stock of the Company subject to the Board of Directors’ approval. For the three months ended September 30, 2022 and 2021, the Company’s estimated ESOP (income) expense was ($152) and $124, respectively. For the nine months ended September 30, 2022 and 2021 the Company’s estimated ESOP expense was $1,668 and $825, respectively.

At various times following death, disability, retirement or termination of employment, an ESOP participant is entitled to receive their ESOP account balance in accordance with various distribution methods as permitted under the policies adopted by the ESOP.

As of September 30, 2022, and December 31, 2021, the ESOP shares, excluding safe harbor shares held in the Company’s 401(k) Plan, consisted of 5,684,879 and 7,292,392 in allocated shares, respectively.