Missouri 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 Missouri 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. This plan is specific to employees located in the state of Missouri and is offered by Charming Shoppes, Inc., a prominent retail company. The Missouri ESPN is a type of benefit plan that aims to promote employee ownership in the company. It allows eligible employees to set aside a portion of their pre-tax salary to purchase company stock, typically at a discounted price compared to the current market value. One type of Missouri Employee Stock Purchase Plan offered by Charming Shoppes, Inc. is the "Basic ESPN." This plan offers participating employees the chance to purchase company stock by contributing a portion of their salary on a regular basis. The accumulation of these contributions over a specific period, typically six months, allows employees to purchase the company's stock at a predetermined discounted price. Another type of plan that may be available for Missouri employees is the "Look back ESPN." This plan allows employees to purchase stock at the lowest of either the discounted price on the purchase date or the actual market price on the first or last day of the offering period, whichever is lower. This plan provides an additional financial advantage to employees by capturing any increase in stock value during the offering period. Employees who participate in the Missouri ESPN of Charming Shoppes, Inc. can enjoy several benefits. Firstly, they have the opportunity to own a stake in the company, aligning their interests with the organization's success. Secondly, they can potentially benefit from the discounted purchase price, which allows them to buy stock at a lower cost than the public. Finally, if the stock's value appreciates over time, employees can profit from the capital gains when they choose to sell their shares. It is important to note that information regarding the specific details, terms, and eligibility criteria of Charming Shoppes, Inc.'s Missouri ESPN can be obtained directly from the company's Human Resources department. The plan may have its own unique features and restrictions, and employees are encouraged to thoroughly review the plan materials and seek professional financial advice before participating.

The Missouri 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. This plan is specific to employees located in the state of Missouri and is offered by Charming Shoppes, Inc., a prominent retail company. The Missouri ESPN is a type of benefit plan that aims to promote employee ownership in the company. It allows eligible employees to set aside a portion of their pre-tax salary to purchase company stock, typically at a discounted price compared to the current market value. One type of Missouri Employee Stock Purchase Plan offered by Charming Shoppes, Inc. is the "Basic ESPN." This plan offers participating employees the chance to purchase company stock by contributing a portion of their salary on a regular basis. The accumulation of these contributions over a specific period, typically six months, allows employees to purchase the company's stock at a predetermined discounted price. Another type of plan that may be available for Missouri employees is the "Look back ESPN." This plan allows employees to purchase stock at the lowest of either the discounted price on the purchase date or the actual market price on the first or last day of the offering period, whichever is lower. This plan provides an additional financial advantage to employees by capturing any increase in stock value during the offering period. Employees who participate in the Missouri ESPN of Charming Shoppes, Inc. can enjoy several benefits. Firstly, they have the opportunity to own a stake in the company, aligning their interests with the organization's success. Secondly, they can potentially benefit from the discounted purchase price, which allows them to buy stock at a lower cost than the public. Finally, if the stock's value appreciates over time, employees can profit from the capital gains when they choose to sell their shares. It is important to note that information regarding the specific details, terms, and eligibility criteria of Charming Shoppes, Inc.'s Missouri ESPN can be obtained directly from the company's Human Resources department. The plan may have its own unique features and restrictions, and employees are encouraged to thoroughly review the plan materials and seek professional financial advice before participating.