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 California Employee Stock Purchase Plan (ESPN) of Charming Shoppes, Inc. is a comprehensive employee benefit program designed to provide eligible employees with the opportunity to purchase company stock at a discounted price. This program is exclusively available to employees of Charming Shoppes operating in California. The ESPN aims to align the interests of employees with those of the company, promoting employee engagement and long-term financial growth. The California ESPN offers various types of purchase plans to accommodate the diverse needs of employees. The most common types include: 1. Standard ESPN: Under this plan, eligible employees can contribute a portion of their salary to purchase company stock at a predetermined discount, typically a percentage off the fair market value. This provides employees with an immediate opportunity to invest in the growth potential of Charming Shoppes while enjoying the financial advantage of the discount. 2. Accumulation ESPN: This variation of the ESPN involves the accumulation of employee contributions over a specific period, usually six months or a year. At the end of the accumulation period, the accumulated funds are used to purchase company stock at the discounted price, providing employees with a lump-sum investment opportunity. 3. Look back ESPN: In a look back ESPN, the purchase price is based on the stock's fair market value either at the beginning or at the end of the offering period—whichever is lower. This feature allows employees to purchase shares at a discounted rate, irrespective of the stock's current market value. As with any employee benefit plan, the California ESPN of Charming Shoppes, Inc. has certain eligibility criteria. Generally, employees must fulfill minimum service requirements and meet any age or compensation limitations set by the company. Additionally, there may be specific enrollment periods during which employees can opt-in or modify their participation in the ESPN. It is crucial for employees to thoroughly understand the terms, restrictions, and potential tax implications of the California ESPN before deciding to participate. By participating in this plan, employees can not only become shareholders in Charming Shoppes but also potentially profit from any future growth in the company's stock value. Overall, the California ESPN offers an enticing opportunity for employees to actively invest in their own future while supporting the success of the company. Keywords: California Employee Stock Purchase Plan, Charming Shoppes, Inc., ESPN, employee benefit program, stock purchase, discounted price, employee engagement, long-term financial growth, employee contributions, fair market value, accumulation ESPN, look back ESPN, eligibility criteria, enrollment periods, shareholder, future growth.
The California Employee Stock Purchase Plan (ESPN) of Charming Shoppes, Inc. is a comprehensive employee benefit program designed to provide eligible employees with the opportunity to purchase company stock at a discounted price. This program is exclusively available to employees of Charming Shoppes operating in California. The ESPN aims to align the interests of employees with those of the company, promoting employee engagement and long-term financial growth. The California ESPN offers various types of purchase plans to accommodate the diverse needs of employees. The most common types include: 1. Standard ESPN: Under this plan, eligible employees can contribute a portion of their salary to purchase company stock at a predetermined discount, typically a percentage off the fair market value. This provides employees with an immediate opportunity to invest in the growth potential of Charming Shoppes while enjoying the financial advantage of the discount. 2. Accumulation ESPN: This variation of the ESPN involves the accumulation of employee contributions over a specific period, usually six months or a year. At the end of the accumulation period, the accumulated funds are used to purchase company stock at the discounted price, providing employees with a lump-sum investment opportunity. 3. Look back ESPN: In a look back ESPN, the purchase price is based on the stock's fair market value either at the beginning or at the end of the offering period—whichever is lower. This feature allows employees to purchase shares at a discounted rate, irrespective of the stock's current market value. As with any employee benefit plan, the California ESPN of Charming Shoppes, Inc. has certain eligibility criteria. Generally, employees must fulfill minimum service requirements and meet any age or compensation limitations set by the company. Additionally, there may be specific enrollment periods during which employees can opt-in or modify their participation in the ESPN. It is crucial for employees to thoroughly understand the terms, restrictions, and potential tax implications of the California ESPN before deciding to participate. By participating in this plan, employees can not only become shareholders in Charming Shoppes but also potentially profit from any future growth in the company's stock value. Overall, the California ESPN offers an enticing opportunity for employees to actively invest in their own future while supporting the success of the company. Keywords: California Employee Stock Purchase Plan, Charming Shoppes, Inc., ESPN, employee benefit program, stock purchase, discounted price, employee engagement, long-term financial growth, employee contributions, fair market value, accumulation ESPN, look back ESPN, eligibility criteria, enrollment periods, shareholder, future growth.