Washington 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 Washington Employee Stock Purchase Plan of Charming Shoppes, Inc. is a program implemented by the company to offer their employees the opportunity to purchase company stock at discounted prices. This plan is specifically designed for employees working in the state of Washington. Under the Washington Employee Stock Purchase Plan, employees are allowed to set aside a portion of their regular paychecks to be used for purchasing company stock. These deductions are typically made on a pre-tax basis, providing employees with added tax advantages. The accumulated funds are then used to acquire shares of Charming Shoppes, Inc. stock at a discounted price, giving employees the opportunity to participate in the company's financial growth. The Washington Employee Stock Purchase Plan of Charming Shoppes, Inc. offers various types of stock purchase options to cater to the different needs and preferences of employees. Some different types of plans available may include: 1. Traditional Employee Stock Purchase Plan: This is a standard plan where employees can purchase company stock at a discounted price usually set at a predetermined percent below the market value. Employees contribute a portion of their salary to accumulate funds for stock purchases. 2. Direct Stock Purchase Plan: This plan allows employees to purchase company stock directly from Charming Shoppes, Inc. without going through a brokerage firm. It offers convenience and cost savings on transaction fees. 3. Leveraged Employee Stock Purchase Plan: This type of plan allows employees to borrow funds against their existing stock holdings to purchase additional shares. It offers the potential for increased returns but also comes with increased risk. 4. Restricted Stock Purchase Plan: In this plan, employees are granted restricted stock units (RSS) instead of immediate ownership of shares. This RSS convert into actual company stock over a predetermined vesting period, typically based on the employee's continued employment or achievement of performance goals. The Washington Employee Stock Purchase Plan of Charming Shoppes, Inc. is a valuable benefit that encourages employee participation and aligns their interests with the company's success. It allows employees to invest in the company's future and potentially reap financial rewards as the stock value grows.

The Washington Employee Stock Purchase Plan of Charming Shoppes, Inc. is a program implemented by the company to offer their employees the opportunity to purchase company stock at discounted prices. This plan is specifically designed for employees working in the state of Washington. Under the Washington Employee Stock Purchase Plan, employees are allowed to set aside a portion of their regular paychecks to be used for purchasing company stock. These deductions are typically made on a pre-tax basis, providing employees with added tax advantages. The accumulated funds are then used to acquire shares of Charming Shoppes, Inc. stock at a discounted price, giving employees the opportunity to participate in the company's financial growth. The Washington Employee Stock Purchase Plan of Charming Shoppes, Inc. offers various types of stock purchase options to cater to the different needs and preferences of employees. Some different types of plans available may include: 1. Traditional Employee Stock Purchase Plan: This is a standard plan where employees can purchase company stock at a discounted price usually set at a predetermined percent below the market value. Employees contribute a portion of their salary to accumulate funds for stock purchases. 2. Direct Stock Purchase Plan: This plan allows employees to purchase company stock directly from Charming Shoppes, Inc. without going through a brokerage firm. It offers convenience and cost savings on transaction fees. 3. Leveraged Employee Stock Purchase Plan: This type of plan allows employees to borrow funds against their existing stock holdings to purchase additional shares. It offers the potential for increased returns but also comes with increased risk. 4. Restricted Stock Purchase Plan: In this plan, employees are granted restricted stock units (RSS) instead of immediate ownership of shares. This RSS convert into actual company stock over a predetermined vesting period, typically based on the employee's continued employment or achievement of performance goals. The Washington Employee Stock Purchase Plan of Charming Shoppes, Inc. is a valuable benefit that encourages employee participation and aligns their interests with the company's success. It allows employees to invest in the company's future and potentially reap financial rewards as the stock value grows.