Massachusetts 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 Massachusetts Employee Stock Purchase Plan (ESPN) of Charming Shoppes, Inc. is a unique benefits program offered to employees residing in Massachusetts. This plan allows eligible employees to purchase company stock through payroll deductions, providing an opportunity to invest in the company and potentially benefit from its future success. Charming Shoppes, Inc. is a prominent fashion retailer that operates several brands, including Lane Bryant, Catherine's, and Fashion Bug. The company recognizes the value of employee ownership and encourages its workforce to be invested in its growth trajectory. Under the Massachusetts ESPN, eligible employees can contribute a portion of their regular pay towards the purchase of Charming Shoppes, Inc. stock. These contributions are typically made through automatic payroll deductions, allowing employees to accumulate shares gradually over time. One of the significant advantages of participating in the ESPN is the opportunity to purchase company stock at a discounted price. Charming Shoppes, Inc. may offer its employees a discount on the market price of the stock, incentivizing them to invest in the company's future. The Massachusetts ESPN of Charming Shoppes, Inc. may also provide additional benefits such as the absence of brokerage fees and the potential for tax advantages. These benefits can further enhance the value of participating in this employee stock purchase plan. It is worth noting that while the overall structure of the Massachusetts ESPN remains consistent, there may be different variations or levels of participation within Charming Shoppes, Inc. These variations could include different discount rates on stock purchases, varied contribution limits, or additional incentives specific to certain employee groups. Participating in the Massachusetts ESPN of Charming Shoppes, Inc. presents employees with an opportunity to align their financial interests with the success of the company. By investing in the company's stock, employees become stakeholders and have the potential to benefit from its growth in the increasingly competitive fashion retail industry. In conclusion, the Massachusetts Employee Stock Purchase Plan of Charming Shoppes, Inc. allows eligible employees to purchase company stock at a discounted price through automatic payroll deductions. This plan is designed to promote employee ownership and provide additional financial benefits. By participating in this ESPN, employees can potentially grow their wealth while supporting the success of Charming Shoppes, Inc.

The Massachusetts Employee Stock Purchase Plan (ESPN) of Charming Shoppes, Inc. is a unique benefits program offered to employees residing in Massachusetts. This plan allows eligible employees to purchase company stock through payroll deductions, providing an opportunity to invest in the company and potentially benefit from its future success. Charming Shoppes, Inc. is a prominent fashion retailer that operates several brands, including Lane Bryant, Catherine's, and Fashion Bug. The company recognizes the value of employee ownership and encourages its workforce to be invested in its growth trajectory. Under the Massachusetts ESPN, eligible employees can contribute a portion of their regular pay towards the purchase of Charming Shoppes, Inc. stock. These contributions are typically made through automatic payroll deductions, allowing employees to accumulate shares gradually over time. One of the significant advantages of participating in the ESPN is the opportunity to purchase company stock at a discounted price. Charming Shoppes, Inc. may offer its employees a discount on the market price of the stock, incentivizing them to invest in the company's future. The Massachusetts ESPN of Charming Shoppes, Inc. may also provide additional benefits such as the absence of brokerage fees and the potential for tax advantages. These benefits can further enhance the value of participating in this employee stock purchase plan. It is worth noting that while the overall structure of the Massachusetts ESPN remains consistent, there may be different variations or levels of participation within Charming Shoppes, Inc. These variations could include different discount rates on stock purchases, varied contribution limits, or additional incentives specific to certain employee groups. Participating in the Massachusetts ESPN of Charming Shoppes, Inc. presents employees with an opportunity to align their financial interests with the success of the company. By investing in the company's stock, employees become stakeholders and have the potential to benefit from its growth in the increasingly competitive fashion retail industry. In conclusion, the Massachusetts Employee Stock Purchase Plan of Charming Shoppes, Inc. allows eligible employees to purchase company stock at a discounted price through automatic payroll deductions. This plan is designed to promote employee ownership and provide additional financial benefits. By participating in this ESPN, employees can potentially grow their wealth while supporting the success of Charming Shoppes, Inc.