District of Columbia 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 District of Columbia Employee Stock Purchase Plan of Charming Shoppes, Inc. is a beneficial program offered to employees working in the District of Columbia, specifically within Charming Shoppes, Inc. This plan provides eligible employees with the opportunity to purchase the company's stock at a discounted price, usually using payroll deductions. Charming Shoppes, Inc. is a prominent retail company that specializes in women's plus-size apparel, operating well-known brands such as Lane Bryant, Catherine's, and Fashion Bug. To attract and retain talented employees, the company introduced the District of Columbia Employee Stock Purchase Plan. Different types of this plan may exist, such as: 1. Basic Stock Purchase Plan: This type allows eligible employees to purchase company stock at a discounted rate, typically below the market price. The discount percentage may vary depending on the plan's terms and conditions. 2. Payroll Deduction Option: With this option, employees can contribute a portion of their regular paycheck towards purchasing company stock. The deducted amount accrues over a specific period, usually six months or a year, and is then used to buy shares at the end of the defined purchase period. 3. Vesting Schedule: Some plans have specific vesting schedules that determine when employees gain full ownership of the purchased company stock. Vesting schedules can vary, with employees gradually obtaining ownership rights over a certain number of years of service. 4. Employee Contributions: The District of Columbia Employee Stock Purchase Plan usually allows employees to allocate a percentage of their salary, within certain limits, towards the purchase of company stock. This flexibility enables employees to customize their investment while taking their financial situation into account. 5. Company Match: In certain cases, Charming Shoppes, Inc. may offer a company match, meaning they will contribute additional funds towards an employee's stock purchase. The matching amount often depends on the employee's contribution percentage, with higher contributions potentially resulting in larger matches from the company. These various types of the District of Columbia Employee Stock Purchase Plan of Charming Shoppes, Inc. strive to motivate employees to become stakeholders in the company's success while providing them with the opportunity to grow their personal wealth through stock ownership. It not only fosters a sense of ownership but also aligns the interests of the employees with the overall goals of Charming Shoppes, Inc.

The District of Columbia Employee Stock Purchase Plan of Charming Shoppes, Inc. is a beneficial program offered to employees working in the District of Columbia, specifically within Charming Shoppes, Inc. This plan provides eligible employees with the opportunity to purchase the company's stock at a discounted price, usually using payroll deductions. Charming Shoppes, Inc. is a prominent retail company that specializes in women's plus-size apparel, operating well-known brands such as Lane Bryant, Catherine's, and Fashion Bug. To attract and retain talented employees, the company introduced the District of Columbia Employee Stock Purchase Plan. Different types of this plan may exist, such as: 1. Basic Stock Purchase Plan: This type allows eligible employees to purchase company stock at a discounted rate, typically below the market price. The discount percentage may vary depending on the plan's terms and conditions. 2. Payroll Deduction Option: With this option, employees can contribute a portion of their regular paycheck towards purchasing company stock. The deducted amount accrues over a specific period, usually six months or a year, and is then used to buy shares at the end of the defined purchase period. 3. Vesting Schedule: Some plans have specific vesting schedules that determine when employees gain full ownership of the purchased company stock. Vesting schedules can vary, with employees gradually obtaining ownership rights over a certain number of years of service. 4. Employee Contributions: The District of Columbia Employee Stock Purchase Plan usually allows employees to allocate a percentage of their salary, within certain limits, towards the purchase of company stock. This flexibility enables employees to customize their investment while taking their financial situation into account. 5. Company Match: In certain cases, Charming Shoppes, Inc. may offer a company match, meaning they will contribute additional funds towards an employee's stock purchase. The matching amount often depends on the employee's contribution percentage, with higher contributions potentially resulting in larger matches from the company. These various types of the District of Columbia Employee Stock Purchase Plan of Charming Shoppes, Inc. strive to motivate employees to become stakeholders in the company's success while providing them with the opportunity to grow their personal wealth through stock ownership. It not only fosters a sense of ownership but also aligns the interests of the employees with the overall goals of Charming Shoppes, Inc.