Ohio Employee Stock Purchase Plan of Rally Manufacturing Corp.

• Category: Corporations - Public - Employees
• State: Multi-State
• Control #: US-CC-19-129
• Format: Word; Rich Text

Description

19-129 19-129 . . . Employee Stock Purchase Plan under which each eligible employee can contribute between 1% and 6% of his or her basic compensation through payroll deductions and, on last day of each Purchase Period, amount withheld is used to purchase shares of common stock (not to exceed 1,000 shares during any Purchase Period) at 85% of lesser of fair market value of a share of common stock on either grant date or exercise date, but not less than par value The Ohio Employee Stock Purchase Plan of Rally Manufacturing Corp. (also referred to as "the Plan" or "the ESP Plan") is a comprehensive program offered by Rally Manufacturing Corp. to its Ohio-based employees, allowing them to purchase company stock at a discounted price directly from the company. This Plan aims to provide employees with an opportunity to become partial owners of the company they work for and benefit from its potential growth. Key Features: 1. Eligibility: All Ohio-based employees of Rally Manufacturing Corp. who meet certain criteria specified by the company are eligible to participate in the Ohio Employee Stock Purchase Plan. These criteria typically involve minimum employment duration, designated work hours, and other specific employment terms. 2. Stock Purchase Periods: The Plan operates on a defined purchase period, during which employees can purchase company stock. This period is commonly referred to as the "enrollment period" and generally recurs at regular intervals such as every six months or annually. 3. Discounted Stock Price: One of the primary advantages of this Plan is the discount offered on the stock price. Rally Manufacturing Corp. typically provides employees with an exclusive discount on the purchase price of the company's stock. The exact discount percentage may vary depending on the terms set forth in the Plan and is determined by Rally Manufacturing Corp. 4. Payroll Deductions: To participate in the ESP Plan, employees must authorize payroll deductions. A specific percentage or fixed dollar amount is deducted from the participant’s paycheck to accumulate funds for stock purchase during the designated enrollment period. 5. Purchase Price: At the end of the enrollment period, the accumulated funds from the payroll deductions are used to purchase Rally Manufacturing Corp. stock at the discounted price. The purchase price is calculated based on the lowest of the stock price at the beginning or the end of the enrollment period. 6. Holding Period: Once the stock is purchased through the Plan, employees are typically required to hold the shares for a specific period known as the "holding period." The holding period may last for a predetermined duration, such as one year, to encourage long-term commitment and discourage short-term trading. 7. Tax Implications: Participants should be aware that certain tax rules and implications apply to the Ohio Employee Stock Purchase Plan. Depending on the individual's financial circumstances, consult with a tax advisor to understand any tax obligations and benefits associated with the Plan. Overall, the Ohio Employee Stock Purchase Plan of Rally Manufacturing Corp. provides an excellent opportunity for eligible employees to invest in their company's success, further aligning their interests with the objectives of the organization. The Plan offers a discounted purchase price, convenient payroll deductions, and potential long-term financial benefits. Employees interested in participating should review the specific terms and conditions outlined in the Plan documents provided by Rally Manufacturing Corp. Please note: While this description specifically covers the Ohio Employee Stock Purchase Plan of Rally Manufacturing Corp., it should be acknowledged that there may be variations of this plan offered by other companies or specific modifications to the plan within the organization itself.

The Ohio Employee Stock Purchase Plan of Rally Manufacturing Corp. (also referred to as "the Plan" or "the ESP Plan") is a comprehensive program offered by Rally Manufacturing Corp. to its Ohio-based employees, allowing them to purchase company stock at a discounted price directly from the company. This Plan aims to provide employees with an opportunity to become partial owners of the company they work for and benefit from its potential growth. Key Features: 1. Eligibility: All Ohio-based employees of Rally Manufacturing Corp. who meet certain criteria specified by the company are eligible to participate in the Ohio Employee Stock Purchase Plan. These criteria typically involve minimum employment duration, designated work hours, and other specific employment terms. 2. Stock Purchase Periods: The Plan operates on a defined purchase period, during which employees can purchase company stock. This period is commonly referred to as the "enrollment period" and generally recurs at regular intervals such as every six months or annually. 3. Discounted Stock Price: One of the primary advantages of this Plan is the discount offered on the stock price. Rally Manufacturing Corp. typically provides employees with an exclusive discount on the purchase price of the company's stock. The exact discount percentage may vary depending on the terms set forth in the Plan and is determined by Rally Manufacturing Corp. 4. Payroll Deductions: To participate in the ESP Plan, employees must authorize payroll deductions. A specific percentage or fixed dollar amount is deducted from the participant’s paycheck to accumulate funds for stock purchase during the designated enrollment period. 5. Purchase Price: At the end of the enrollment period, the accumulated funds from the payroll deductions are used to purchase Rally Manufacturing Corp. stock at the discounted price. The purchase price is calculated based on the lowest of the stock price at the beginning or the end of the enrollment period. 6. Holding Period: Once the stock is purchased through the Plan, employees are typically required to hold the shares for a specific period known as the "holding period." The holding period may last for a predetermined duration, such as one year, to encourage long-term commitment and discourage short-term trading. 7. Tax Implications: Participants should be aware that certain tax rules and implications apply to the Ohio Employee Stock Purchase Plan. Depending on the individual's financial circumstances, consult with a tax advisor to understand any tax obligations and benefits associated with the Plan. Overall, the Ohio Employee Stock Purchase Plan of Rally Manufacturing Corp. provides an excellent opportunity for eligible employees to invest in their company's success, further aligning their interests with the objectives of the organization. The Plan offers a discounted purchase price, convenient payroll deductions, and potential long-term financial benefits. Employees interested in participating should review the specific terms and conditions outlined in the Plan documents provided by Rally Manufacturing Corp. Please note: While this description specifically covers the Ohio Employee Stock Purchase Plan of Rally Manufacturing Corp., it should be acknowledged that there may be variations of this plan offered by other companies or specific modifications to the plan within the organization itself.