Oregon 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 Oregon Employee Stock Purchase Plan (ESPN) offered by Charming Shoppes, Inc. is a valuable benefit program designed to provide its employees in Oregon with an opportunity to purchase company stock at a discounted price. The ESPN aims to strengthen employee engagement and align their interests with the company's success by allowing them to share in the ownership and future growth of the company. As a participant in the Oregon ESPN, eligible employees have the option to dedicate a portion of their regular pay towards purchasing Charming Shoppes, Inc. stock. This is achieved through automatic payroll deductions, which accumulate over a specified offering period. At the end of this period, the accumulated funds are used to purchase company shares on the employee's behalf, typically at a discounted price. The discount may vary depending on the terms and conditions set forth by the company. One notable feature of the Oregon ESPN is the ability for employees to accumulate ownership in a tax-advantaged manner. Typically, when employees sell the purchased stock, they may be subject to capital gains taxes. However, depending on the jurisdiction and eligibility criteria, certain ESPN plans allow participants to receive preferential tax treatment, reducing potential tax burdens. While the exact details and variations of the Oregon ESPN may differ based on Charming Shoppes, Inc.'s specific program, there may be additional types of ESPN plans offered to employees in Oregon. These variations could include a Qualified ESPN or a Non-Qualified ESPN. A Qualified ESPN satisfies specific regulatory criteria set by tax authorities, often offering significant tax advantages to participants. On the other hand, a Non-Qualified ESPN does not meet these specific regulatory requirements but still provides employees with opportunities to purchase company stock. By participating in the Oregon ESPN, Charming Shoppes, Inc. employees can enjoy various potential benefits such as potential capital appreciation of the purchased stock, potential tax advantages, and the opportunity to become shareholders in the company they work for. It is essential for employees to carefully review the program's terms, conditions, and any restrictions to make informed decisions regarding their participation. Please note that this description is purely fictional and created for the purpose of answering the query.

The Oregon Employee Stock Purchase Plan (ESPN) offered by Charming Shoppes, Inc. is a valuable benefit program designed to provide its employees in Oregon with an opportunity to purchase company stock at a discounted price. The ESPN aims to strengthen employee engagement and align their interests with the company's success by allowing them to share in the ownership and future growth of the company. As a participant in the Oregon ESPN, eligible employees have the option to dedicate a portion of their regular pay towards purchasing Charming Shoppes, Inc. stock. This is achieved through automatic payroll deductions, which accumulate over a specified offering period. At the end of this period, the accumulated funds are used to purchase company shares on the employee's behalf, typically at a discounted price. The discount may vary depending on the terms and conditions set forth by the company. One notable feature of the Oregon ESPN is the ability for employees to accumulate ownership in a tax-advantaged manner. Typically, when employees sell the purchased stock, they may be subject to capital gains taxes. However, depending on the jurisdiction and eligibility criteria, certain ESPN plans allow participants to receive preferential tax treatment, reducing potential tax burdens. While the exact details and variations of the Oregon ESPN may differ based on Charming Shoppes, Inc.'s specific program, there may be additional types of ESPN plans offered to employees in Oregon. These variations could include a Qualified ESPN or a Non-Qualified ESPN. A Qualified ESPN satisfies specific regulatory criteria set by tax authorities, often offering significant tax advantages to participants. On the other hand, a Non-Qualified ESPN does not meet these specific regulatory requirements but still provides employees with opportunities to purchase company stock. By participating in the Oregon ESPN, Charming Shoppes, Inc. employees can enjoy various potential benefits such as potential capital appreciation of the purchased stock, potential tax advantages, and the opportunity to become shareholders in the company they work for. It is essential for employees to carefully review the program's terms, conditions, and any restrictions to make informed decisions regarding their participation. Please note that this description is purely fictional and created for the purpose of answering the query.