Oklahoma 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 Oklahoma Employee Stock Purchase Plan (ESPN) of Charming Shoppes, Inc. is a company-sponsored program designed to provide eligible employees in Oklahoma with the opportunity to purchase company stock at a discounted rate. This plan allows employees to become company shareholders, giving them a vested interest in the success and growth of the organization. Charming Shoppes, Inc. is a retail company that specializes in women's plus-size clothing. It operates several well-known brands, including Lane Bryant, Caïque, and Catherine's, among others. As an established player in the fashion industry, Charming Shoppes has implemented an ESPN program specifically tailored for employees in Oklahoma. The Oklahoma ESPN offers various types of plans tailored to meet the needs of different employees. Some different types of ESPN available through Charming Shoppes, Inc. include: 1. Standard ESPN: This plan allows eligible employees to purchase company stock through a recurring payroll deduction. Employees can contribute a percentage of their salary towards the purchase of company shares, which are then acquired at a discounted price. 2. Matching ESPN: In addition to the standard ESPN, Charming Shoppes, Inc. may also offer a matching program where the company matches a portion of the employee's contributions towards stock purchases. This encourages employees to participate in the plan by providing an extra incentive to invest in company stock. 3. Vesting Schedule: Depending on the plan offered by Charming Shoppes, Inc., employees may have a vesting schedule associated with their stock purchases. This means that the shares acquired through the ESPN program may only become fully owned by the employee after a certain period of time or upon meeting specific conditions. Eligibility for the Oklahoma ESPN typically requires being an employee of Charming Shoppes, Inc. based in Oklahoma and meeting certain employment criteria determined by the company. By participating in the ESPN, employees have the opportunity to accumulate company stock, potentially benefiting from increases in stock value over time. However, it is important to note that investing in company stock carries potential risks and employees should carefully consider their personal financial situation and objectives before participating. Overall, the Oklahoma Employee Stock Purchase Plan of Charming Shoppes, Inc. is an enticing benefit that provides eligible employees with the chance to share in the company's success. It promotes employee engagement, loyalty, and a sense of ownership in the organization, fostering a stronger and more motivated workforce.

The Oklahoma Employee Stock Purchase Plan (ESPN) of Charming Shoppes, Inc. is a company-sponsored program designed to provide eligible employees in Oklahoma with the opportunity to purchase company stock at a discounted rate. This plan allows employees to become company shareholders, giving them a vested interest in the success and growth of the organization. Charming Shoppes, Inc. is a retail company that specializes in women's plus-size clothing. It operates several well-known brands, including Lane Bryant, Caïque, and Catherine's, among others. As an established player in the fashion industry, Charming Shoppes has implemented an ESPN program specifically tailored for employees in Oklahoma. The Oklahoma ESPN offers various types of plans tailored to meet the needs of different employees. Some different types of ESPN available through Charming Shoppes, Inc. include: 1. Standard ESPN: This plan allows eligible employees to purchase company stock through a recurring payroll deduction. Employees can contribute a percentage of their salary towards the purchase of company shares, which are then acquired at a discounted price. 2. Matching ESPN: In addition to the standard ESPN, Charming Shoppes, Inc. may also offer a matching program where the company matches a portion of the employee's contributions towards stock purchases. This encourages employees to participate in the plan by providing an extra incentive to invest in company stock. 3. Vesting Schedule: Depending on the plan offered by Charming Shoppes, Inc., employees may have a vesting schedule associated with their stock purchases. This means that the shares acquired through the ESPN program may only become fully owned by the employee after a certain period of time or upon meeting specific conditions. Eligibility for the Oklahoma ESPN typically requires being an employee of Charming Shoppes, Inc. based in Oklahoma and meeting certain employment criteria determined by the company. By participating in the ESPN, employees have the opportunity to accumulate company stock, potentially benefiting from increases in stock value over time. However, it is important to note that investing in company stock carries potential risks and employees should carefully consider their personal financial situation and objectives before participating. Overall, the Oklahoma Employee Stock Purchase Plan of Charming Shoppes, Inc. is an enticing benefit that provides eligible employees with the chance to share in the company's success. It promotes employee engagement, loyalty, and a sense of ownership in the organization, fostering a stronger and more motivated workforce.