North Dakota 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 Dakota Employee Stock Purchase Plan (ESPN) of Charming Shoppes, Inc., is a program designed to provide employees in North Dakota with the opportunity to purchase company stock at a discounted price. With the ESPN, employees can contribute a portion of their paycheck towards the purchase of Charming Shoppes, Inc. stock, allowing them to become owners and potentially benefit from the company's success. As a voluntary program, the North Dakota Employee Stock Purchase Plan is open to all eligible employees, and participants can choose to contribute up to a certain percentage of their salary towards purchasing company stock. The contributions are typically made through convenient payroll deductions, making it easy for employees to save and invest in the company. One of the key advantages of participating in the North Dakota ESPN is the discounted stock price offered to employees. This means that employees can buy shares at a lower price than the market value, increasing their potential for profit when the stock value rises. Additionally, the North Dakota Employee Stock Purchase Plan of Charming Shoppes, Inc. offers certain tax benefits. The contributions made towards the purchase of company stock are typically deducted from an employee's taxable income. As a result, employees may enjoy potential tax savings both in the short and long term. It is worth noting that there may be different types of ESPN offered by Charming Shoppes, Inc., each with varying features and eligibility requirements. For example, there may be a Qualified Employee Stock Purchase Plan (ESPN) which complies with certain tax regulations, and a Non-Qualified Employee Stock Purchase Plan (ESPN) which may offer more flexibility but with potentially different tax implications. In conclusion, the North Dakota Employee Stock Purchase Plan of Charming Shoppes, Inc. provides North Dakota employees with an attractive opportunity to invest in the company they work for, potentially reap financial benefits, and enjoy tax advantages. It is a voluntary program that encourages employee ownership and aligns their interests with the overall success of the organization.

The North Dakota Employee Stock Purchase Plan (ESPN) of Charming Shoppes, Inc., is a program designed to provide employees in North Dakota with the opportunity to purchase company stock at a discounted price. With the ESPN, employees can contribute a portion of their paycheck towards the purchase of Charming Shoppes, Inc. stock, allowing them to become owners and potentially benefit from the company's success. As a voluntary program, the North Dakota Employee Stock Purchase Plan is open to all eligible employees, and participants can choose to contribute up to a certain percentage of their salary towards purchasing company stock. The contributions are typically made through convenient payroll deductions, making it easy for employees to save and invest in the company. One of the key advantages of participating in the North Dakota ESPN is the discounted stock price offered to employees. This means that employees can buy shares at a lower price than the market value, increasing their potential for profit when the stock value rises. Additionally, the North Dakota Employee Stock Purchase Plan of Charming Shoppes, Inc. offers certain tax benefits. The contributions made towards the purchase of company stock are typically deducted from an employee's taxable income. As a result, employees may enjoy potential tax savings both in the short and long term. It is worth noting that there may be different types of ESPN offered by Charming Shoppes, Inc., each with varying features and eligibility requirements. For example, there may be a Qualified Employee Stock Purchase Plan (ESPN) which complies with certain tax regulations, and a Non-Qualified Employee Stock Purchase Plan (ESPN) which may offer more flexibility but with potentially different tax implications. In conclusion, the North Dakota Employee Stock Purchase Plan of Charming Shoppes, Inc. provides North Dakota employees with an attractive opportunity to invest in the company they work for, potentially reap financial benefits, and enjoy tax advantages. It is a voluntary program that encourages employee ownership and aligns their interests with the overall success of the organization.