Hawaii 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 Hawaii Employee Stock Purchase Plan (ESPN) of Charming Shoppes, Inc. is an employee benefit program offered by the company specifically for its Hawaii-based employees. This plan provides eligible employees an opportunity to purchase company stock at a discounted price, typically through payroll deductions. Charming Shoppes, Inc. is a retail company that operates several well-known fashion brands, including Lane Bryant, Catherine's, and Fashion Bug. With a strong presence in Hawaii, Charming Shoppes recognizes the importance of engaging and motivating its employees through stock ownership. The Hawaii ESPN offers different options for employees to participate in the program. It may include a traditional ESPN, where employees can purchase company stock at a discounted price within a specified period. The discounted price is often determined based on the fair market value of the stock on the offering date or the purchase date, whichever is lower. Another potential variation of the Hawaii ESPN could be a "look back" provision. This feature allows employees to purchase stock at a discount based on the price at the beginning or the end of the offering period, whichever is lower. This provision enables employees to benefit from any significant stock price appreciation during the offering period. Participation in the Hawaii ESPN is typically voluntary and open to eligible employees of Charming Shoppes working in Hawaii. Employees usually need to meet specific eligibility criteria, such as length of service and minimum working hours, to participate in the program. Employees who choose to participate in the Hawaii ESPN authorize payroll deductions to be made from their salaries to accumulate funds for the purchase of company stock. The deductions are usually taken out on a regular basis, such as per-pay period or monthly, and accumulated until the purchase date. The purchased stock is held in the employee's name within the designated brokerage account, allowing employees to benefit from potential stock price appreciation. The ESPN may also provide employees with the option to sell their purchased stock after a specified holding period, providing an avenue for potential liquidity. Overall, the Hawaii Employee Stock Purchase Plan of Charming Shoppes, Inc. is a valuable employee benefit program that encourages stock ownership among its Hawaii-based employees. By participating in the plan, employees have the potential to grow their personal wealth through stock price appreciation, contributing to their financial well-being and alignment with the company's success.

The Hawaii Employee Stock Purchase Plan (ESPN) of Charming Shoppes, Inc. is an employee benefit program offered by the company specifically for its Hawaii-based employees. This plan provides eligible employees an opportunity to purchase company stock at a discounted price, typically through payroll deductions. Charming Shoppes, Inc. is a retail company that operates several well-known fashion brands, including Lane Bryant, Catherine's, and Fashion Bug. With a strong presence in Hawaii, Charming Shoppes recognizes the importance of engaging and motivating its employees through stock ownership. The Hawaii ESPN offers different options for employees to participate in the program. It may include a traditional ESPN, where employees can purchase company stock at a discounted price within a specified period. The discounted price is often determined based on the fair market value of the stock on the offering date or the purchase date, whichever is lower. Another potential variation of the Hawaii ESPN could be a "look back" provision. This feature allows employees to purchase stock at a discount based on the price at the beginning or the end of the offering period, whichever is lower. This provision enables employees to benefit from any significant stock price appreciation during the offering period. Participation in the Hawaii ESPN is typically voluntary and open to eligible employees of Charming Shoppes working in Hawaii. Employees usually need to meet specific eligibility criteria, such as length of service and minimum working hours, to participate in the program. Employees who choose to participate in the Hawaii ESPN authorize payroll deductions to be made from their salaries to accumulate funds for the purchase of company stock. The deductions are usually taken out on a regular basis, such as per-pay period or monthly, and accumulated until the purchase date. The purchased stock is held in the employee's name within the designated brokerage account, allowing employees to benefit from potential stock price appreciation. The ESPN may also provide employees with the option to sell their purchased stock after a specified holding period, providing an avenue for potential liquidity. Overall, the Hawaii Employee Stock Purchase Plan of Charming Shoppes, Inc. is a valuable employee benefit program that encourages stock ownership among its Hawaii-based employees. By participating in the plan, employees have the potential to grow their personal wealth through stock price appreciation, contributing to their financial well-being and alignment with the company's success.