Kansas 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 Kansas Employee Stock Purchase Plan (ESPN) of Charming Shoppes, Inc. is a unique program offered to eligible employees of the company based in the state of Kansas. This ESPN allows employees to purchase company stocks at a discounted price, promoting long-term loyalty and financial growth among the workforce. Charming Shoppes, Inc. understands the importance of providing attractive benefits to their employees, and the ESPN serves as an additional incentive. Through this plan, Kansas-based employees are given the opportunity to acquire company stocks, thereby participating in the ownership of the organization and sharing in its success. By participating in the Kansas ESPN, eligible employees can contribute a portion of their earnings, which is then used to purchase company stocks at a discounted price. The discounted rate may vary depending on the specific plan offered by Charming Shoppes, Inc. to its Kansas workforce. One notable aspect of the Kansas ESPN of Charming Shoppes, Inc. is the flexibility it provides. Employees can choose to contribute a specific percentage of their paycheck towards the purchase of stocks, allowing them to tailor their investment based on their financial goals and circumstances. Additionally, the Kansas ESPN may offer different types or variations based on the employee's preferences and the company's policies. These variations may include options such as immediate enrollment, where eligible employees can start participating as soon as they become eligible, or enrollment periods that occur at specific times throughout the year. By participating in the ESPN, employees not only have the potential to accumulate wealth through stock ownership but also become more invested in the overall success of Charming Shoppes, Inc. This alignment of interests further strengthens the company's workforce and fosters a sense of loyalty and commitment among employees. In summary, the Kansas Employee Stock Purchase Plan of Charming Shoppes, Inc. is a valuable benefit offered to eligible employees in Kansas. It allows employees to purchase discounted company stocks, promoting shared ownership and financial growth. The plan offers flexibility in contributions and may have different variations or types based on employee preferences. This program incentivizes long-term loyalty and fosters a strong connection between the employees and Charming Shoppes, Inc.

The Kansas Employee Stock Purchase Plan (ESPN) of Charming Shoppes, Inc. is a unique program offered to eligible employees of the company based in the state of Kansas. This ESPN allows employees to purchase company stocks at a discounted price, promoting long-term loyalty and financial growth among the workforce. Charming Shoppes, Inc. understands the importance of providing attractive benefits to their employees, and the ESPN serves as an additional incentive. Through this plan, Kansas-based employees are given the opportunity to acquire company stocks, thereby participating in the ownership of the organization and sharing in its success. By participating in the Kansas ESPN, eligible employees can contribute a portion of their earnings, which is then used to purchase company stocks at a discounted price. The discounted rate may vary depending on the specific plan offered by Charming Shoppes, Inc. to its Kansas workforce. One notable aspect of the Kansas ESPN of Charming Shoppes, Inc. is the flexibility it provides. Employees can choose to contribute a specific percentage of their paycheck towards the purchase of stocks, allowing them to tailor their investment based on their financial goals and circumstances. Additionally, the Kansas ESPN may offer different types or variations based on the employee's preferences and the company's policies. These variations may include options such as immediate enrollment, where eligible employees can start participating as soon as they become eligible, or enrollment periods that occur at specific times throughout the year. By participating in the ESPN, employees not only have the potential to accumulate wealth through stock ownership but also become more invested in the overall success of Charming Shoppes, Inc. This alignment of interests further strengthens the company's workforce and fosters a sense of loyalty and commitment among employees. In summary, the Kansas Employee Stock Purchase Plan of Charming Shoppes, Inc. is a valuable benefit offered to eligible employees in Kansas. It allows employees to purchase discounted company stocks, promoting shared ownership and financial growth. The plan offers flexibility in contributions and may have different variations or types based on employee preferences. This program incentivizes long-term loyalty and fosters a strong connection between the employees and Charming Shoppes, Inc.