Nevada 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 Nevada Employee Stock Purchase Plan (ESPN) of Charming Shoppes, Inc., is a type of employee benefit program offered by the company to its employees working in the state of Nevada. This plan allows eligible employees to purchase company stock through automated payroll deductions, enabling them to become shareholders in Charming Shoppes. The Nevada ESPN serves as a means for employees to acquire company stock at a discounted price, often below the current market value. By participating in this program, employees can take advantage of potential stock price appreciation, leading to potential financial gains in the long run. This initiative fosters a sense of ownership and commitment among the workforce, aligning their interests with the company's growth and success. Under the Nevada ESPN, eligible employees can contribute a portion of their salary, typically deducted from regular paychecks, towards purchasing Charming Shoppes stock. The deductions are accumulated over a specific period, such as six months or a year, and then used to buy company shares at the end of the period at the predetermined discounted price. This provides employees with an affordable and convenient way to invest in their employer's stock. Charming Shoppes may offer different types of Nevada ESPN, tailored to meet the needs of its diverse workforce. These variations can include features such as different discount rates on stock purchases, varying contribution limits, and specific enrollment periods throughout the year. The company may also provide educational resources to help employees better understand the benefits and risks associated with stock ownership, empowering them to make informed investment decisions. The Nevada ESPN of Charming Shoppes, Inc. ultimately promotes employee engagement, loyalty, and a shared interest in the company's financial success. By offering this program, Charming Shoppes demonstrates its commitment to fostering a positive work culture and providing opportunities for employees to build wealth through stock ownership.

Nevada Employee Stock Purchase Plan (ESPN) of Charming Shoppes, Inc., is a type of employee benefit program offered by the company to its employees working in the state of Nevada. This plan allows eligible employees to purchase company stock through automated payroll deductions, enabling them to become shareholders in Charming Shoppes. The Nevada ESPN serves as a means for employees to acquire company stock at a discounted price, often below the current market value. By participating in this program, employees can take advantage of potential stock price appreciation, leading to potential financial gains in the long run. This initiative fosters a sense of ownership and commitment among the workforce, aligning their interests with the company's growth and success. Under the Nevada ESPN, eligible employees can contribute a portion of their salary, typically deducted from regular paychecks, towards purchasing Charming Shoppes stock. The deductions are accumulated over a specific period, such as six months or a year, and then used to buy company shares at the end of the period at the predetermined discounted price. This provides employees with an affordable and convenient way to invest in their employer's stock. Charming Shoppes may offer different types of Nevada ESPN, tailored to meet the needs of its diverse workforce. These variations can include features such as different discount rates on stock purchases, varying contribution limits, and specific enrollment periods throughout the year. The company may also provide educational resources to help employees better understand the benefits and risks associated with stock ownership, empowering them to make informed investment decisions. The Nevada ESPN of Charming Shoppes, Inc. ultimately promotes employee engagement, loyalty, and a shared interest in the company's financial success. By offering this program, Charming Shoppes demonstrates its commitment to fostering a positive work culture and providing opportunities for employees to build wealth through stock ownership.