Kentucky 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 Kentucky Employee Stock Purchase Plan (ESPN) of Charming Shoppes, Inc. is a program that allows eligible employees in Kentucky to purchase company stock at a discounted price. This stock purchase plan aims to provide employees with an opportunity to invest in the company's growth and share in its success. Charming Shoppes, Inc., a former apparel retailer based in Bensalem, Pennsylvania, offered various types of ESPN to its employees in Kentucky. These plans were designed to accommodate different employee needs and preferences. Some main types of Kentucky Employee Stock Purchase Plans offered by Charming Shoppes, Inc. might include: 1. Standard Employee Stock Purchase Plan: This plan allowed eligible employees to purchase company stock through payroll deductions. Employees could allocate a specific percentage of their wages to be automatically deducted and used to purchase Charming Shoppes, Inc. shares at a discounted price, usually below the market value. 2. Enrollment Periods: Charming Shoppes, Inc. may have offered different enrollment periods throughout the year, during which eligible employees could enroll in the ESPN or make adjustments to their contributions. These enrollment periods provided employees with flexibility to align their stock purchases with their financial goals and market conditions. 3. Vesting Schedule: The ESPN might have had a vesting schedule, which means that employees would only become fully entitled to the purchased stock after a certain period of service or employment. This schedule encouraged long-term employee engagement and loyalty to the company. 4. Holding Period: In some cases, an ESPN might require employees to hold onto the purchased shares for a specific period before being able to sell them. This holding period aimed to align employee interests with the company's long-term growth strategy. 5. Discounted Stock Price: The Charming Shoppes, Inc. ESPN likely offered employees a discounted price on the purchase of company stock. This discount may have been a fixed percentage or vary based on specific parameters set by the plan. It's important for employees to review the specific terms, conditions, and features of the Kentucky Employee Stock Purchase Plan of Charming Shoppes, Inc. to fully understand their eligibility, contribution limits, purchasing process, and any additional benefits or conditions associated with the plan. Regular communication from the company's Human Resources department or plan administrators would provide detailed information about the ESPN and its various options.

The Kentucky Employee Stock Purchase Plan (ESPN) of Charming Shoppes, Inc. is a program that allows eligible employees in Kentucky to purchase company stock at a discounted price. This stock purchase plan aims to provide employees with an opportunity to invest in the company's growth and share in its success. Charming Shoppes, Inc., a former apparel retailer based in Bensalem, Pennsylvania, offered various types of ESPN to its employees in Kentucky. These plans were designed to accommodate different employee needs and preferences. Some main types of Kentucky Employee Stock Purchase Plans offered by Charming Shoppes, Inc. might include: 1. Standard Employee Stock Purchase Plan: This plan allowed eligible employees to purchase company stock through payroll deductions. Employees could allocate a specific percentage of their wages to be automatically deducted and used to purchase Charming Shoppes, Inc. shares at a discounted price, usually below the market value. 2. Enrollment Periods: Charming Shoppes, Inc. may have offered different enrollment periods throughout the year, during which eligible employees could enroll in the ESPN or make adjustments to their contributions. These enrollment periods provided employees with flexibility to align their stock purchases with their financial goals and market conditions. 3. Vesting Schedule: The ESPN might have had a vesting schedule, which means that employees would only become fully entitled to the purchased stock after a certain period of service or employment. This schedule encouraged long-term employee engagement and loyalty to the company. 4. Holding Period: In some cases, an ESPN might require employees to hold onto the purchased shares for a specific period before being able to sell them. This holding period aimed to align employee interests with the company's long-term growth strategy. 5. Discounted Stock Price: The Charming Shoppes, Inc. ESPN likely offered employees a discounted price on the purchase of company stock. This discount may have been a fixed percentage or vary based on specific parameters set by the plan. It's important for employees to review the specific terms, conditions, and features of the Kentucky Employee Stock Purchase Plan of Charming Shoppes, Inc. to fully understand their eligibility, contribution limits, purchasing process, and any additional benefits or conditions associated with the plan. Regular communication from the company's Human Resources department or plan administrators would provide detailed information about the ESPN and its various options.