Indiana 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 Indiana Employee Stock Purchase Plan (ESPN) of Charming Shoppes, Inc. is a program designed to provide employees with the opportunity to purchase company stock at a discounted price, thereby allowing them to become shareholders in the company. As a participant in the Indiana ESPN, employees can contribute a portion of their salary towards the purchase of company stock. These contributions are made through payroll deductions, enabling employees to invest in the company conveniently and automatically. One key feature of the Indiana ESPN is the discounted purchase price. Charming Shoppes, Inc. offers employees the opportunity to buy shares at a price below the market value, usually at a predetermined discount rate. This discount presents an excellent opportunity for employees to acquire company shares at a reduced cost, potentially leading to financial gains if the stock value appreciates. The Indiana ESPN of Charming Shoppes, Inc. also typically includes a purchase period during which employees can accumulate their contributions. This accumulation period usually lasts for a set period, such as six months or a year, and allows employees to gather funds before using them to purchase shares. At the end of the purchase period, employees can buy company stock using their accumulated funds with the applied discount. It's important to note that there may be different types of Indiana ESPN offered by Charming Shoppes, Inc. These may vary in terms of eligibility criteria, contribution limits, and discount rates. Among the potential types of plans may include those tailored for different departments within the company or plans available exclusively to full-time employees. Participating in the Indiana ESPN of Charming Shoppes, Inc. provides several benefits to employees. Firstly, it can serve as an effective way to build financial wealth by investing in the success of the company. Additionally, the discounted purchase price allows employees to potentially accumulate ownership stakes in a cost-efficient manner. Furthermore, being a shareholder can foster a sense of loyalty and engagement among employees, enhancing their commitment to the company's goals and success. Overall, the Indiana Employee Stock Purchase Plan of Charming Shoppes, Inc. is a valuable program that empowers employees to become stakeholders in the company while benefiting from discounted stock prices. The plan offers an avenue for employees to participate in the company's growth and potentially capitalize on the success of their investments.