Vermont 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 Vermont Employee Stock Purchase Plan (VE SPP) of Charming Shoppes, Inc. is a financial program designed to give employees of the company an opportunity to purchase company stock. As the name suggests, this specific plan is available to employees based in Vermont. The VE SPP allows employees to contribute a portion of their earnings towards purchasing Charming Shoppes stock at a discounted price. The plan typically operates through automatic payroll deductions, making it a convenient and hassle-free option for employees to invest in the company they work for. By participating in the VE SPP, Vermont employees can build their financial future by acquiring shares of Charming Shoppes stock. The program provides them with an option to invest in the company's growth potential and benefit from its performance. There may be different types or variations of the VE SPP offered by Charming Shoppes, Inc. Some possible options could include: 1. Traditional VE SPP: This plan would involve employees contributing a set percentage or amount from their paycheck towards purchasing Charming Shoppes stock at a discounted or preferential price. The contributions are accumulated over a defined period, and the stock is allocated at the end of the purchase cycle. 2. Vesting VE SPP: In a vesting plan, employees gradually acquire ownership of the purchased stock over a specific period of time. This type of VE SPP encourages employee loyalty and long-term commitment by rewarding them with an increasing ownership stake in the company the longer they remain with it. 3. Dividend Reinvestment VE SPP: This type of plan allows employees to automatically reinvest any dividends earned from their Charming Shoppes stock directly back into buying additional company shares. It provides employees with a way to compound their investments and potentially increase their ownership stake in the company. These are just a few examples of potential variations of the VE SPP that may exist within Charming Shoppes, Inc. Each type of plan may have its own unique terms, conditions, and eligibility requirements, which should be carefully reviewed by employees considering participation. Regardless of the specific VE SPP variation, the overall objective remains the same — to empower employees by giving them an opportunity to become shareholders in Charming Shoppes, Inc. This not only aligns their interests with the company's success but also allows them to potentially benefit from any increase in stock value over time.

The Vermont Employee Stock Purchase Plan (VE SPP) of Charming Shoppes, Inc. is a financial program designed to give employees of the company an opportunity to purchase company stock. As the name suggests, this specific plan is available to employees based in Vermont. The VE SPP allows employees to contribute a portion of their earnings towards purchasing Charming Shoppes stock at a discounted price. The plan typically operates through automatic payroll deductions, making it a convenient and hassle-free option for employees to invest in the company they work for. By participating in the VE SPP, Vermont employees can build their financial future by acquiring shares of Charming Shoppes stock. The program provides them with an option to invest in the company's growth potential and benefit from its performance. There may be different types or variations of the VE SPP offered by Charming Shoppes, Inc. Some possible options could include: 1. Traditional VE SPP: This plan would involve employees contributing a set percentage or amount from their paycheck towards purchasing Charming Shoppes stock at a discounted or preferential price. The contributions are accumulated over a defined period, and the stock is allocated at the end of the purchase cycle. 2. Vesting VE SPP: In a vesting plan, employees gradually acquire ownership of the purchased stock over a specific period of time. This type of VE SPP encourages employee loyalty and long-term commitment by rewarding them with an increasing ownership stake in the company the longer they remain with it. 3. Dividend Reinvestment VE SPP: This type of plan allows employees to automatically reinvest any dividends earned from their Charming Shoppes stock directly back into buying additional company shares. It provides employees with a way to compound their investments and potentially increase their ownership stake in the company. These are just a few examples of potential variations of the VE SPP that may exist within Charming Shoppes, Inc. Each type of plan may have its own unique terms, conditions, and eligibility requirements, which should be carefully reviewed by employees considering participation. Regardless of the specific VE SPP variation, the overall objective remains the same — to empower employees by giving them an opportunity to become shareholders in Charming Shoppes, Inc. This not only aligns their interests with the company's success but also allows them to potentially benefit from any increase in stock value over time.