New York 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 York Employee Stock Purchase Plan (ESPN) of Charming Shoppes, Inc. is a unique program designed to provide a significant benefit for employees of the company based in New York. This ESPN allows eligible employees to purchase company stock at a discounted price, providing them with an opportunity to invest in the company they work for and potentially to gain from its growth in value. The Charming Shoppes, Inc. New York ESPN offers various features and benefits to its participants. Firstly, eligible employees can contribute a portion of their salary to the program through regular payroll deductions. The contributed amount is then used to purchase company stock at a predetermined discount, usually a percentage below the stock's market value. The New York ESPN of Charming Shoppes, Inc. also encourages long-term investment by providing a holding period. This means that employees must hold the purchased stock for a specific period before they can sell it, usually six months to a year. This policy aims to align the interests of employees with the overall performance of the company and its shareholders. Additionally, the Charming Shoppes, Inc. New York ESPN may offer a "look back provision," allowing employees to purchase stock at a discount based on the stock's price at the beginning or end of the offering period, whichever is lower. This provision enables employees to maximize their potential gains by purchasing stock at a lower price even if the stock has appreciated during the offering period. It is crucial to note that the specifics of the New York Employee Stock Purchase Plan of Charming Shoppes, Inc., including the discount percentage, holding period, and look back provision, may vary depending on the plan's terms and conditions. Employees should refer to the plan documentation and consult with qualified financial professionals to understand the exact details of the program they are eligible for. In conclusion, the New York Employee Stock Purchase Plan of Charming Shoppes, Inc. offers employees a unique opportunity to invest in their company by purchasing company stock at a discounted price. This program aims to align the interests of employees with the success of the company and provides potential financial benefits to participants.

The New York Employee Stock Purchase Plan (ESPN) of Charming Shoppes, Inc. is a unique program designed to provide a significant benefit for employees of the company based in New York. This ESPN allows eligible employees to purchase company stock at a discounted price, providing them with an opportunity to invest in the company they work for and potentially to gain from its growth in value. The Charming Shoppes, Inc. New York ESPN offers various features and benefits to its participants. Firstly, eligible employees can contribute a portion of their salary to the program through regular payroll deductions. The contributed amount is then used to purchase company stock at a predetermined discount, usually a percentage below the stock's market value. The New York ESPN of Charming Shoppes, Inc. also encourages long-term investment by providing a holding period. This means that employees must hold the purchased stock for a specific period before they can sell it, usually six months to a year. This policy aims to align the interests of employees with the overall performance of the company and its shareholders. Additionally, the Charming Shoppes, Inc. New York ESPN may offer a "look back provision," allowing employees to purchase stock at a discount based on the stock's price at the beginning or end of the offering period, whichever is lower. This provision enables employees to maximize their potential gains by purchasing stock at a lower price even if the stock has appreciated during the offering period. It is crucial to note that the specifics of the New York Employee Stock Purchase Plan of Charming Shoppes, Inc., including the discount percentage, holding period, and look back provision, may vary depending on the plan's terms and conditions. Employees should refer to the plan documentation and consult with qualified financial professionals to understand the exact details of the program they are eligible for. In conclusion, the New York Employee Stock Purchase Plan of Charming Shoppes, Inc. offers employees a unique opportunity to invest in their company by purchasing company stock at a discounted price. This program aims to align the interests of employees with the success of the company and provides potential financial benefits to participants.