Ohio 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 Ohio Employee Stock Purchase Plan (ESPN) of Charming Shoppes, Inc. is a special program designed to provide employees with the opportunity to own company stock. This plan is offered specifically for employees who work in the state of Ohio. The ESPN offers several benefits, including a discounted purchase price on company stock and the option to accumulate shares over time. Charming Shoppes, Inc. operates multiple retail brands, including Lane Bryant, Catherine's, and Fashion Bug. The ESPN allows qualifying employees of these brands in Ohio to participate in the program. By purchasing company stock through the ESPN, employees have the opportunity to become shareholders and potentially benefit from the company's success. The Ohio Employee Stock Purchase Plan of Charming Shoppes, Inc. has different types based on various eligibility criteria and purchase options. These types may include: 1. Standard Plan: This is the basic offering of the ESPN, which is available to all eligible employees in Ohio. It typically allows employees to elect a certain percentage of their salary to be deducted and used for purchasing company stock at a discounted price. 2. Tiered Plan: Charming Shoppes, Inc. may also offer a tiered ESPN where employees can choose to contribute different percentages of their salary based on their job level or tenure within the company. This type of plan encourages higher participation from employees in more senior roles or those with longer service. 3. Vesting Plan: In some cases, the ESPN may have a vesting period in which employees must hold their purchased shares for a certain period before they can sell or transfer them. This type of plan is designed to encourage long-term investment and commitment to the company. 4. Bonus Plan: Charming Shoppes, Inc. may offer a bonus ESPN where employees can receive additional company stock as a reward for high performance or meeting specific goals. This type of plan serves as an incentive for employees to excel in their roles and contribute to the company's growth. Charming Shoppes, Inc. takes pride in offering the Ohio Employee Stock Purchase Plan to ensure that employees have an opportunity to share in the company's success and align their interests with those of the shareholders. The ESPN is an excellent way for eligible employees to build financial security, participate in company ownership, and potentially benefit from the growth of Charming Shoppes, Inc.

The Ohio Employee Stock Purchase Plan (ESPN) of Charming Shoppes, Inc. is a special program designed to provide employees with the opportunity to own company stock. This plan is offered specifically for employees who work in the state of Ohio. The ESPN offers several benefits, including a discounted purchase price on company stock and the option to accumulate shares over time. Charming Shoppes, Inc. operates multiple retail brands, including Lane Bryant, Catherine's, and Fashion Bug. The ESPN allows qualifying employees of these brands in Ohio to participate in the program. By purchasing company stock through the ESPN, employees have the opportunity to become shareholders and potentially benefit from the company's success. The Ohio Employee Stock Purchase Plan of Charming Shoppes, Inc. has different types based on various eligibility criteria and purchase options. These types may include: 1. Standard Plan: This is the basic offering of the ESPN, which is available to all eligible employees in Ohio. It typically allows employees to elect a certain percentage of their salary to be deducted and used for purchasing company stock at a discounted price. 2. Tiered Plan: Charming Shoppes, Inc. may also offer a tiered ESPN where employees can choose to contribute different percentages of their salary based on their job level or tenure within the company. This type of plan encourages higher participation from employees in more senior roles or those with longer service. 3. Vesting Plan: In some cases, the ESPN may have a vesting period in which employees must hold their purchased shares for a certain period before they can sell or transfer them. This type of plan is designed to encourage long-term investment and commitment to the company. 4. Bonus Plan: Charming Shoppes, Inc. may offer a bonus ESPN where employees can receive additional company stock as a reward for high performance or meeting specific goals. This type of plan serves as an incentive for employees to excel in their roles and contribute to the company's growth. Charming Shoppes, Inc. takes pride in offering the Ohio Employee Stock Purchase Plan to ensure that employees have an opportunity to share in the company's success and align their interests with those of the shareholders. The ESPN is an excellent way for eligible employees to build financial security, participate in company ownership, and potentially benefit from the growth of Charming Shoppes, Inc.