Montana 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 Montana Employee Stock Purchase Plan of Charming Shoppes, Inc. is a program specifically designed for the employees of Charming Shoppes, Inc. who work in the state of Montana. This employee stock purchase plan allows eligible employees to purchase company shares at a discounted price, providing them with an opportunity to invest in the company they work for. The Montana Employee Stock Purchase Plan of Charming Shoppes, Inc. offers numerous benefits to employees, such as the ability to accumulate ownership in the company and potentially increase their personal wealth. By participating in this program, employees can also feel a greater sense of pride and loyalty towards their employer. This stock purchase plan operates on a voluntary basis, meaning employees have the option to enroll and contribute a portion of their wages towards purchasing company shares. The contributions are typically deducted from the employee's paycheck, making it a convenient and effortless process. The plan may have different types or variations offered to employees depending on their employment status or specific requirements. Some common types of employee stock purchase plans include: 1. Standard Plan: This is the default option available to eligible employees, allowing them to purchase company shares at a discounted price. The plan usually operates on a regular basis with specified enrollment periods and purchase periods. 2. Qualified Plan: Certain state or federal regulations may require modifications to the standard plan. A qualified plan is designed to meet these regulatory requirements while still allowing employees to purchase company shares at a discounted rate. It may offer additional tax advantages for participating employees. 3. Non-Qualified Plan: In some cases, employees who do not meet the eligibility criteria for a qualified plan may still have the opportunity to participate in a non-qualified plan. Although the benefits and terms may differ from the qualified plan, employees can still purchase company shares at a discounted price. The Charming Shoppes, Inc. Employee Stock Purchase Plan in Montana provides a valuable opportunity for employees to invest in the company's success and potentially reap financial benefits through the appreciation of their shares. By allowing employees to become stockholders, the plan fosters an inclusive work environment and encourages long-term dedication and commitment from the workforce. In conclusion, the Montana Employee Stock Purchase Plan of Charming Shoppes, Inc. is a beneficial program that empowers eligible employees to invest in their company's future and potentially benefit from its growth. The plan offers various types or variations, ensuring it caters to the specific needs and compliance requirements of different employee groups.

The Montana Employee Stock Purchase Plan of Charming Shoppes, Inc. is a program specifically designed for the employees of Charming Shoppes, Inc. who work in the state of Montana. This employee stock purchase plan allows eligible employees to purchase company shares at a discounted price, providing them with an opportunity to invest in the company they work for. The Montana Employee Stock Purchase Plan of Charming Shoppes, Inc. offers numerous benefits to employees, such as the ability to accumulate ownership in the company and potentially increase their personal wealth. By participating in this program, employees can also feel a greater sense of pride and loyalty towards their employer. This stock purchase plan operates on a voluntary basis, meaning employees have the option to enroll and contribute a portion of their wages towards purchasing company shares. The contributions are typically deducted from the employee's paycheck, making it a convenient and effortless process. The plan may have different types or variations offered to employees depending on their employment status or specific requirements. Some common types of employee stock purchase plans include: 1. Standard Plan: This is the default option available to eligible employees, allowing them to purchase company shares at a discounted price. The plan usually operates on a regular basis with specified enrollment periods and purchase periods. 2. Qualified Plan: Certain state or federal regulations may require modifications to the standard plan. A qualified plan is designed to meet these regulatory requirements while still allowing employees to purchase company shares at a discounted rate. It may offer additional tax advantages for participating employees. 3. Non-Qualified Plan: In some cases, employees who do not meet the eligibility criteria for a qualified plan may still have the opportunity to participate in a non-qualified plan. Although the benefits and terms may differ from the qualified plan, employees can still purchase company shares at a discounted price. The Charming Shoppes, Inc. Employee Stock Purchase Plan in Montana provides a valuable opportunity for employees to invest in the company's success and potentially reap financial benefits through the appreciation of their shares. By allowing employees to become stockholders, the plan fosters an inclusive work environment and encourages long-term dedication and commitment from the workforce. In conclusion, the Montana Employee Stock Purchase Plan of Charming Shoppes, Inc. is a beneficial program that empowers eligible employees to invest in their company's future and potentially benefit from its growth. The plan offers various types or variations, ensuring it caters to the specific needs and compliance requirements of different employee groups.