North Carolina 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 North Carolina Employee Stock Purchase Plan (ESPN) of Charming Shoppes, Inc. offers an attractive investment opportunity for employees based in North Carolina. Charming Shoppes, Inc., is a renowned retail company, and its ESPN allows eligible employees to buy company stock at a discounted rate, further encouraging their participation in the organization's success. The North Carolina ESPN operates as an employee benefit program, enabling employees to purchase Charming Shoppes, Inc. stock through payroll deductions. This plan provides employees the chance to become company shareholders, thereby aligning their financial interests with the company's performance. By investing in Charming Shoppes, Inc., employees may potentially benefit from the company's growth and profitability. The North Carolina ESPN offers various features and advantages to employees. Firstly, it allows participants to buy Charming Shoppes, Inc. stock at a discounted price, typically lower than the market value. This discount serves as a key incentive and allows employees to acquire company stock at a more affordable rate. Another significant benefit of the North Carolina ESPN is the convenience it provides. Through payroll deductions, employees can regularly contribute a portion of their salary to purchase Charming Shoppes, Inc. stock. This systematic approach helps employees build their investment portfolio gradually, without compromising their financial stability. Additionally, the North Carolina ESPN may include certain plan variations, such as the Non-Qualified ESPN or the Qualified ESPN. The Non-Qualified ESPN typically offers stock purchase opportunities to a wider range of employees, including part-time employees, while the Qualified ESPN adheres to specific regulations outlined by the Internal Revenue Service (IRS). Participating in the North Carolina ESPN can lead to both short-term and long-term financial benefits. As the stock is purchased at a discounted price, employees can choose to sell the shares immediately after the purchase, potentially making a quick profit. Alternatively, employees can hold onto the shares, allowing them to benefit from any potential appreciation in stock value over time. Should the stock value increase, employees stand to gain valuable returns on their investment. The North Carolina ESPN of Charming Shoppes, Inc. not only presents a unique opportunity for employees to become shareholders in the company but also demonstrates the organization's commitment to employee participation and potential financial growth. By offering discounted stock purchase options, the company ensures that employees have a chance to share in the success they help create.

The North Carolina Employee Stock Purchase Plan (ESPN) of Charming Shoppes, Inc. offers an attractive investment opportunity for employees based in North Carolina. Charming Shoppes, Inc., is a renowned retail company, and its ESPN allows eligible employees to buy company stock at a discounted rate, further encouraging their participation in the organization's success. The North Carolina ESPN operates as an employee benefit program, enabling employees to purchase Charming Shoppes, Inc. stock through payroll deductions. This plan provides employees the chance to become company shareholders, thereby aligning their financial interests with the company's performance. By investing in Charming Shoppes, Inc., employees may potentially benefit from the company's growth and profitability. The North Carolina ESPN offers various features and advantages to employees. Firstly, it allows participants to buy Charming Shoppes, Inc. stock at a discounted price, typically lower than the market value. This discount serves as a key incentive and allows employees to acquire company stock at a more affordable rate. Another significant benefit of the North Carolina ESPN is the convenience it provides. Through payroll deductions, employees can regularly contribute a portion of their salary to purchase Charming Shoppes, Inc. stock. This systematic approach helps employees build their investment portfolio gradually, without compromising their financial stability. Additionally, the North Carolina ESPN may include certain plan variations, such as the Non-Qualified ESPN or the Qualified ESPN. The Non-Qualified ESPN typically offers stock purchase opportunities to a wider range of employees, including part-time employees, while the Qualified ESPN adheres to specific regulations outlined by the Internal Revenue Service (IRS). Participating in the North Carolina ESPN can lead to both short-term and long-term financial benefits. As the stock is purchased at a discounted price, employees can choose to sell the shares immediately after the purchase, potentially making a quick profit. Alternatively, employees can hold onto the shares, allowing them to benefit from any potential appreciation in stock value over time. Should the stock value increase, employees stand to gain valuable returns on their investment. The North Carolina ESPN of Charming Shoppes, Inc. not only presents a unique opportunity for employees to become shareholders in the company but also demonstrates the organization's commitment to employee participation and potential financial growth. By offering discounted stock purchase options, the company ensures that employees have a chance to share in the success they help create.