Illinois 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 Illinois Employee Stock Purchase Plan of Charming Shoppes, Inc. is a unique program designed to provide eligible Illinois employees of Charming Shoppes, Inc. with an opportunity to purchase company stock at a discounted rate. This plan is specifically tailored to Illinois employees and offers various benefits to enhance their financial portfolio. Key Features: 1. Discounted Stock Purchase: The Illinois Employee Stock Purchase Plan allows employees to buy company stock at a discounted price, typically lower than the market value. This enables employees to accumulate company shares and potentially earn a profit over time. 2. Voluntary Participation: The plan is voluntary, giving employees the freedom to decide whether to participate. Those interested in building their financial assets or investing in the company they work for can take advantage of this opportunity. 3. Payroll Deductions: Participants in the Illinois Employee Stock Purchase Plan contribute a predetermined amount from their regular paychecks towards purchasing company stock. This makes it convenient for employees to invest regularly without the hassle of manual transactions. 4. Opportunity for Long-Term Investment: The plan encourages long-term investment, as employees can accumulate company stock gradually, often with favorable tax treatment. Holding onto these shares for an extended period may result in potential capital gains and dividends. While there may not be different types of Illinois Employee Stock Purchase Plans specific to Charming Shoppes, Inc., variations of the plan might exist based on factors such as contribution limits, holding periods, or eligibility criteria. However, further research would be needed to identify any specific distinctions. Overall, the Illinois Employee Stock Purchase Plan of Charming Shoppes, Inc. provides Illinois employees with an advantageous opportunity to become shareholders in the company they work for. By participating in the plan, employees can potentially benefit from discounted stock prices, long-term investment gains, and a chance to align their financial interests with the success of the company.

The Illinois Employee Stock Purchase Plan of Charming Shoppes, Inc. is a unique program designed to provide eligible Illinois employees of Charming Shoppes, Inc. with an opportunity to purchase company stock at a discounted rate. This plan is specifically tailored to Illinois employees and offers various benefits to enhance their financial portfolio. Key Features: 1. Discounted Stock Purchase: The Illinois Employee Stock Purchase Plan allows employees to buy company stock at a discounted price, typically lower than the market value. This enables employees to accumulate company shares and potentially earn a profit over time. 2. Voluntary Participation: The plan is voluntary, giving employees the freedom to decide whether to participate. Those interested in building their financial assets or investing in the company they work for can take advantage of this opportunity. 3. Payroll Deductions: Participants in the Illinois Employee Stock Purchase Plan contribute a predetermined amount from their regular paychecks towards purchasing company stock. This makes it convenient for employees to invest regularly without the hassle of manual transactions. 4. Opportunity for Long-Term Investment: The plan encourages long-term investment, as employees can accumulate company stock gradually, often with favorable tax treatment. Holding onto these shares for an extended period may result in potential capital gains and dividends. While there may not be different types of Illinois Employee Stock Purchase Plans specific to Charming Shoppes, Inc., variations of the plan might exist based on factors such as contribution limits, holding periods, or eligibility criteria. However, further research would be needed to identify any specific distinctions. Overall, the Illinois Employee Stock Purchase Plan of Charming Shoppes, Inc. provides Illinois employees with an advantageous opportunity to become shareholders in the company they work for. By participating in the plan, employees can potentially benefit from discounted stock prices, long-term investment gains, and a chance to align their financial interests with the success of the company.