Connecticut 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 Connecticut Employee Stock Purchase Plan of Charming Shoppes, Inc. is a program offered by the company to its employees in the state of Connecticut. This plan allows eligible employees to purchase shares of Charming Shoppes, Inc. stock at a discounted price, typically through automatic payroll deductions. One of the key advantages of the Connecticut Employee Stock Purchase Plan is that it gives employees the opportunity to become shareholders of the company they work for, providing them with a stake in the company's success. By participating in the plan, employees can potentially benefit from any increase in the value of Charming Shoppes, Inc. stock. The plan operates on a voluntary basis and typically has specific enrollment periods during which employees can sign up. Once enrolled, employees authorize a portion of their wages to be deducted regularly, usually on a per-paycheck basis. These deducted amounts are then used to purchase Charming Shoppes, Inc. stock at a discounted price, which is typically lower than the market value. It is important to note that there may be variations or different types of Connecticut Employee Stock Purchase Plans of Charming Shoppes, Inc., depending on the specific terms and conditions established by the company. These variations may include different enrollment periods, offering periods, discount rates, and eligibility criteria. It is advisable for employees to consult the plan documents or the company's human resources department for specific details about the plan they are eligible for. Participating in an employee stock purchase plan can be a valuable financial opportunity for employees, as it allows them to gain ownership in the company and potentially benefit from its success. It also promotes employee loyalty and engagement, as employees have a vested interest in the company's performance. In conclusion, the Connecticut Employee Stock Purchase Plan of Charming Shoppes, Inc. provides employees in Connecticut with the opportunity to purchase company stock at a discounted price through automatic payroll deductions. It aims to incentivize employee loyalty, promote engagement, and enable employees to benefit from the company's performance.

The Connecticut Employee Stock Purchase Plan of Charming Shoppes, Inc. is a program offered by the company to its employees in the state of Connecticut. This plan allows eligible employees to purchase shares of Charming Shoppes, Inc. stock at a discounted price, typically through automatic payroll deductions. One of the key advantages of the Connecticut Employee Stock Purchase Plan is that it gives employees the opportunity to become shareholders of the company they work for, providing them with a stake in the company's success. By participating in the plan, employees can potentially benefit from any increase in the value of Charming Shoppes, Inc. stock. The plan operates on a voluntary basis and typically has specific enrollment periods during which employees can sign up. Once enrolled, employees authorize a portion of their wages to be deducted regularly, usually on a per-paycheck basis. These deducted amounts are then used to purchase Charming Shoppes, Inc. stock at a discounted price, which is typically lower than the market value. It is important to note that there may be variations or different types of Connecticut Employee Stock Purchase Plans of Charming Shoppes, Inc., depending on the specific terms and conditions established by the company. These variations may include different enrollment periods, offering periods, discount rates, and eligibility criteria. It is advisable for employees to consult the plan documents or the company's human resources department for specific details about the plan they are eligible for. Participating in an employee stock purchase plan can be a valuable financial opportunity for employees, as it allows them to gain ownership in the company and potentially benefit from its success. It also promotes employee loyalty and engagement, as employees have a vested interest in the company's performance. In conclusion, the Connecticut Employee Stock Purchase Plan of Charming Shoppes, Inc. provides employees in Connecticut with the opportunity to purchase company stock at a discounted price through automatic payroll deductions. It aims to incentivize employee loyalty, promote engagement, and enable employees to benefit from the company's performance.