South Carolina 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 South Carolina Employee Stock Purchase Plan (ESPN) of Charming Shoppes, Inc. is a specialized program designed to provide eligible employees based in South Carolina with the opportunity to purchase company stock at a discounted price. This employee benefit plan allows the workers to acquire shares of Charming Shoppes, Inc. through payroll deductions, fostering an ownership culture and rewarding employee loyalty. The ESPN is a vital tool for both Charming Shoppes, Inc. and its employees in South Carolina. By participating in this plan, employees can accumulate ownership in the company and potentially benefit from any future increase in stock value. This not only aligns the interests of employees with the company but also motivates them to contribute to its success and profitability. Under the South Carolina Employee Stock Purchase Plan of Charming Shoppes, Inc., employees can contribute a designated percentage of their eligible compensation to purchase company stock. The withheld funds are accumulated over the offering period, typically six months, and then used to acquire shares at a discounted price. The discount percentage could vary depending on the specific ESPN offering and may be subject to certain terms and conditions. Charming Shoppes, Inc. may offer different types of employee stock purchase plans within South Carolina, tailored to meet the diverse needs and goals of its workforce. These variations may include different discount rates, purchase periods, or eligibility criteria. It is essential for employees in South Carolina to thoroughly review the plan documents, including terms and any associated risks, to make informed decisions regarding their participation in the ESPN. By implementing an ESPN, Charming Shoppes, Inc. not only provides an attractive benefit to its South Carolina employees but also fosters a culture of ownership and accountability. This plan promotes employee retention, engagement, and shared success, thereby contributing to the growth and stability of the company as a whole. Keywords: South Carolina Employee Stock Purchase Plan, Charming Shoppes, Inc., ESPN, employee benefit plan, ownership culture, employee loyalty, company stock, payroll deductions, stock value, profitability, offering period, discount rate, purchase periods, eligibility criteria, plan documents, employee retention, engagement, shared success, growth, stability.

The South Carolina Employee Stock Purchase Plan (ESPN) of Charming Shoppes, Inc. is a specialized program designed to provide eligible employees based in South Carolina with the opportunity to purchase company stock at a discounted price. This employee benefit plan allows the workers to acquire shares of Charming Shoppes, Inc. through payroll deductions, fostering an ownership culture and rewarding employee loyalty. The ESPN is a vital tool for both Charming Shoppes, Inc. and its employees in South Carolina. By participating in this plan, employees can accumulate ownership in the company and potentially benefit from any future increase in stock value. This not only aligns the interests of employees with the company but also motivates them to contribute to its success and profitability. Under the South Carolina Employee Stock Purchase Plan of Charming Shoppes, Inc., employees can contribute a designated percentage of their eligible compensation to purchase company stock. The withheld funds are accumulated over the offering period, typically six months, and then used to acquire shares at a discounted price. The discount percentage could vary depending on the specific ESPN offering and may be subject to certain terms and conditions. Charming Shoppes, Inc. may offer different types of employee stock purchase plans within South Carolina, tailored to meet the diverse needs and goals of its workforce. These variations may include different discount rates, purchase periods, or eligibility criteria. It is essential for employees in South Carolina to thoroughly review the plan documents, including terms and any associated risks, to make informed decisions regarding their participation in the ESPN. By implementing an ESPN, Charming Shoppes, Inc. not only provides an attractive benefit to its South Carolina employees but also fosters a culture of ownership and accountability. This plan promotes employee retention, engagement, and shared success, thereby contributing to the growth and stability of the company as a whole. Keywords: South Carolina Employee Stock Purchase Plan, Charming Shoppes, Inc., ESPN, employee benefit plan, ownership culture, employee loyalty, company stock, payroll deductions, stock value, profitability, offering period, discount rate, purchase periods, eligibility criteria, plan documents, employee retention, engagement, shared success, growth, stability.