New Hampshire 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 New Hampshire Employee Stock Purchase Plan (ESPN) of Charming Shoppes, Inc. is a unique program designed to provide eligible employees with the opportunity to purchase company stock at a discounted price. Charming Shoppes, Inc. is a well-known retail company operating a portfolio of popular women's apparel brands. The ESPN benefits both the employees and the company by promoting employee ownership, incentivizing loyalty, and aligning the interests of the workers with the success of the business. Under this plan, eligible employees in New Hampshire can contribute a portion of their salary towards purchasing Charming Shoppes, Inc. stock at a discounted price. One type of the New Hampshire Employee Stock Purchase Plan offered by Charming Shoppes, Inc. is the Traditional ESPN. This plan typically allows eligible employees to purchase company stock through accumulated payroll deductions, usually at a discount of up to 15% from the market price. Employees can contribute a certain percentage of their salary, up to a specified limit, towards purchasing the company's stock, allowing them to acquire a stake in the company's growth. Another type of ESPN that may be offered is the Look back ESPN. With this plan, the stock is typically purchased at the lowest of either the offering date price or the market price at the end of the purchase period. This provides employees with the potential for greater discounts if the stock price rises during the offering period. Participating in the New Hampshire Employee Stock Purchase Plan can be advantageous for employees as it offers an opportunity for them to accumulate wealth over time and potentially benefit from the growth of Charming Shoppes, Inc. Moreover, the ESPN encourages employees to have a vested interest in the company's success, fostering a sense of ownership and loyalty towards their work. By providing this valuable employee benefit, Charming Shoppes, Inc. aims to attract and retain talented individuals while promoting a strong culture of employee engagement and long-term commitment. The New Hampshire Employee Stock Purchase Plan demonstrates the company's dedication to fostering a mutually beneficial relationship between the company, its employees, and its shareholders.

The New Hampshire Employee Stock Purchase Plan (ESPN) of Charming Shoppes, Inc. is a unique program designed to provide eligible employees with the opportunity to purchase company stock at a discounted price. Charming Shoppes, Inc. is a well-known retail company operating a portfolio of popular women's apparel brands. The ESPN benefits both the employees and the company by promoting employee ownership, incentivizing loyalty, and aligning the interests of the workers with the success of the business. Under this plan, eligible employees in New Hampshire can contribute a portion of their salary towards purchasing Charming Shoppes, Inc. stock at a discounted price. One type of the New Hampshire Employee Stock Purchase Plan offered by Charming Shoppes, Inc. is the Traditional ESPN. This plan typically allows eligible employees to purchase company stock through accumulated payroll deductions, usually at a discount of up to 15% from the market price. Employees can contribute a certain percentage of their salary, up to a specified limit, towards purchasing the company's stock, allowing them to acquire a stake in the company's growth. Another type of ESPN that may be offered is the Look back ESPN. With this plan, the stock is typically purchased at the lowest of either the offering date price or the market price at the end of the purchase period. This provides employees with the potential for greater discounts if the stock price rises during the offering period. Participating in the New Hampshire Employee Stock Purchase Plan can be advantageous for employees as it offers an opportunity for them to accumulate wealth over time and potentially benefit from the growth of Charming Shoppes, Inc. Moreover, the ESPN encourages employees to have a vested interest in the company's success, fostering a sense of ownership and loyalty towards their work. By providing this valuable employee benefit, Charming Shoppes, Inc. aims to attract and retain talented individuals while promoting a strong culture of employee engagement and long-term commitment. The New Hampshire Employee Stock Purchase Plan demonstrates the company's dedication to fostering a mutually beneficial relationship between the company, its employees, and its shareholders.