Alabama Employee Stock Purchase Plan of Charming Shoppes, Inc.

• Category: Corporations - Public - Employees
• State: Multi-State
• Control #: US-CC-19-119
• Format: Word; Rich Text

Description

19-119 19-119 . . . Employee Stock Purchase Plan under which each employee can contribute from 1% to 10% of earnings through payroll deductions, and contributions are credited to account maintained on behalf of each employee by brokerage firm designated as custodian under Plan. So long as Plan is operated as "discount plan", corporation will sell shares directly to custodian at a price equal to lesser of 85% of fair market value of common stock at beginning of offering period or 85% of fair market value of common stock on purchase date. If Board designates Plan as a "matching plan", such discounted sales by corporation would be discontinued, but corporation instead would make matching contribution equal to 15% of employees' payroll contributions to be used by custodian to make market purchases of common stock at or promptly after purchase date The Charming Shoppes, Inc. Employee Stock Purchase Plan is a program specifically designed for employees of Charming Shoppes, a leading fashion retailer. Being a nationwide company, Charming Shoppes offers its employees in Alabama an exclusive opportunity to participate in this plan, which allows them to invest in the company's stock with certain benefits and provisions. The Alabama Employee Stock Purchase Plan of Charming Shoppes, Inc. is structured to provide employees from this state the ability to purchase company stock at a discounted price, usually a certain percentage lower than the market value. This plan is a way for employees of Charming Shoppes, Inc. to become shareholders, aligning their interests with the success of the company. By participating in the Alabama Employee Stock Purchase Plan, employees have the opportunity to contribute a portion of their earnings regularly towards the purchase of Charming Shoppes, Inc. stock. The contributions accumulate over a designated offering period, typically six months, after which employees can use the accumulated funds to buy shares at the discounted price. There may be different types or variations of the Alabama Employee Stock Purchase Plan offered by Charming Shoppes, Inc., which can include features such as a look-back provision or an employee contribution matching program. A look-back provision allows employees to purchase shares of Charming Shoppes, Inc. stock at the lowest of either the market price at the beginning or end of the offering period, ensuring maximum benefit for participants. An employee contribution matching program, if applicable, means that the company matches a portion of the employee's contributions towards purchasing company stock, further enhancing the benefits for participants. The Alabama Employee Stock Purchase Plan of Charming Shoppes, Inc. is a valuable employee benefit that not only provides potential financial gains but also encourages employees to actively participate in the company's success. It promotes a sense of ownership and loyalty among employees while allowing them to reap the rewards of their dedicated work.

The Charming Shoppes, Inc. Employee Stock Purchase Plan is a program specifically designed for employees of Charming Shoppes, a leading fashion retailer. Being a nationwide company, Charming Shoppes offers its employees in Alabama an exclusive opportunity to participate in this plan, which allows them to invest in the company's stock with certain benefits and provisions. The Alabama Employee Stock Purchase Plan of Charming Shoppes, Inc. is structured to provide employees from this state the ability to purchase company stock at a discounted price, usually a certain percentage lower than the market value. This plan is a way for employees of Charming Shoppes, Inc. to become shareholders, aligning their interests with the success of the company. By participating in the Alabama Employee Stock Purchase Plan, employees have the opportunity to contribute a portion of their earnings regularly towards the purchase of Charming Shoppes, Inc. stock. The contributions accumulate over a designated offering period, typically six months, after which employees can use the accumulated funds to buy shares at the discounted price. There may be different types or variations of the Alabama Employee Stock Purchase Plan offered by Charming Shoppes, Inc., which can include features such as a look-back provision or an employee contribution matching program. A look-back provision allows employees to purchase shares of Charming Shoppes, Inc. stock at the lowest of either the market price at the beginning or end of the offering period, ensuring maximum benefit for participants. An employee contribution matching program, if applicable, means that the company matches a portion of the employee's contributions towards purchasing company stock, further enhancing the benefits for participants. The Alabama Employee Stock Purchase Plan of Charming Shoppes, Inc. is a valuable employee benefit that not only provides potential financial gains but also encourages employees to actively participate in the company's success. It promotes a sense of ownership and loyalty among employees while allowing them to reap the rewards of their dedicated work.