Puerto Rico 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 Puerto Rico Employee Stock Purchase Plan (ESPN) is a program offered by Charming Shoppes, Inc., a retail company based in Puerto Rico. This plan allows eligible employees to participate and purchase company stock at a discounted price, typically at a percentage of the market value. The Puerto Rico Employee Stock Purchase Plan of Charming Shoppes, Inc. aims to encourage employee ownership and provide a convenient way for employees to invest in the company's growth. It serves as an incentive for employees to contribute to the organization's success while also giving them an opportunity to benefit financially. The ESPN of Charming Shoppes, Inc. in Puerto Rico comes with several advantages. Firstly, it allows employees to accumulate wealth by investing in the company they work for. This not only helps them build financial security but also aligns their interests with the company's long-term goals. Additionally, the discounted stock price allows employees to make a potentially profitable investment. There may be different types or variations of the Puerto Rico Employee Stock Purchase Plan offered by Charming Shoppes, Inc. Some potential variations could include: 1. Basic ESPN: This plan allows eligible employees to purchase company stock at a discounted price, typically through regular payroll deductions. 2. Matching ESPN: In this variation, the company may offer a matching contribution to employees who participate in the ESPN. For example, for every share an employee purchases, the company matches it with an additional share. 3. Look back ESPN: This type of ESPN allows employees to purchase shares at a discount based on the stock price at either the beginning or the end of the offering period, whichever is lower. This often results in a larger discount compared to a regular ESPN. 4. Restricted ESPN: Some ESPN may have specific eligibility criteria or limitations. For instance, a company may restrict participation to certain employee groups or limit the quantity of shares an employee can purchase. It's important for employees to review the specific details and terms of the Puerto Rico Employee Stock Purchase Plan offered by Charming Shoppes, Inc. They should consult the plan documents, such as the Summary Plan Description or prospectus, which provide comprehensive information regarding the plan's rules, eligibility, contribution limits, and associated tax implications. Overall, the Puerto Rico Employee Stock Purchase Plan can be a valuable benefit, allowing employees to become shareholders and potentially reap the rewards of their company's success.

Puerto Rico Employee Stock Purchase Plan (ESPN) is a program offered by Charming Shoppes, Inc., a retail company based in Puerto Rico. This plan allows eligible employees to participate and purchase company stock at a discounted price, typically at a percentage of the market value. The Puerto Rico Employee Stock Purchase Plan of Charming Shoppes, Inc. aims to encourage employee ownership and provide a convenient way for employees to invest in the company's growth. It serves as an incentive for employees to contribute to the organization's success while also giving them an opportunity to benefit financially. The ESPN of Charming Shoppes, Inc. in Puerto Rico comes with several advantages. Firstly, it allows employees to accumulate wealth by investing in the company they work for. This not only helps them build financial security but also aligns their interests with the company's long-term goals. Additionally, the discounted stock price allows employees to make a potentially profitable investment. There may be different types or variations of the Puerto Rico Employee Stock Purchase Plan offered by Charming Shoppes, Inc. Some potential variations could include: 1. Basic ESPN: This plan allows eligible employees to purchase company stock at a discounted price, typically through regular payroll deductions. 2. Matching ESPN: In this variation, the company may offer a matching contribution to employees who participate in the ESPN. For example, for every share an employee purchases, the company matches it with an additional share. 3. Look back ESPN: This type of ESPN allows employees to purchase shares at a discount based on the stock price at either the beginning or the end of the offering period, whichever is lower. This often results in a larger discount compared to a regular ESPN. 4. Restricted ESPN: Some ESPN may have specific eligibility criteria or limitations. For instance, a company may restrict participation to certain employee groups or limit the quantity of shares an employee can purchase. It's important for employees to review the specific details and terms of the Puerto Rico Employee Stock Purchase Plan offered by Charming Shoppes, Inc. They should consult the plan documents, such as the Summary Plan Description or prospectus, which provide comprehensive information regarding the plan's rules, eligibility, contribution limits, and associated tax implications. Overall, the Puerto Rico Employee Stock Purchase Plan can be a valuable benefit, allowing employees to become shareholders and potentially reap the rewards of their company's success.