West Virginia 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 West Virginia Employee Stock Purchase Plan of Charming Shoppes, Inc. is a company-sponsored program that allows eligible employees in West Virginia to purchase company stock at a discounted price. Charming Shoppes, Inc. is a clothing retailer known for its brands, such as Lane Bryant and Catherine's. With the West Virginia Employee Stock Purchase Plan, employees have the opportunity to invest in Charming Shoppes, Inc. and become shareholders of the company. This program aims to provide financial benefits and promote employee participation in the company's growth and success. One type of plan offered under the West Virginia Employee Stock Purchase Plan is the Traditional Employee Stock Purchase Plan. This plan allows eligible employees to contribute a percentage of their salary, usually up to a certain limit, to purchase Charming Shoppes, Inc. stock during specified buying periods. The stock is typically offered at a discounted price, often at a slight reduction from the market value. Another type of plan is the Dividend Reinvestment Plan (DRIP), which may also be available under the West Virginia Employee Stock Purchase Plan of Charming Shoppes, Inc. With this plan, employees who already own Charming Shoppes, Inc. stock can choose to reinvest their dividends directly into additional company shares, instead of receiving cash payouts. This allows for the potential accumulation of more shares over time and helps employees maximize their investments. Participating in the West Virginia Employee Stock Purchase Plan can be a valuable financial opportunity for eligible employees of Charming Shoppes, Inc. It provides a convenient and affordable way to acquire company stock and potentially benefit from its future growth. By being a shareholder, employees can also have a sense of ownership in the company and feel aligned with its long-term success. Please note that the specifics of the West Virginia Employee Stock Purchase Plan of Charming Shoppes, Inc. may vary, and it is essential for employees to refer to the official plan documents and consult with their company's HR department for comprehensive information.

The West Virginia Employee Stock Purchase Plan of Charming Shoppes, Inc. is a company-sponsored program that allows eligible employees in West Virginia to purchase company stock at a discounted price. Charming Shoppes, Inc. is a clothing retailer known for its brands, such as Lane Bryant and Catherine's. With the West Virginia Employee Stock Purchase Plan, employees have the opportunity to invest in Charming Shoppes, Inc. and become shareholders of the company. This program aims to provide financial benefits and promote employee participation in the company's growth and success. One type of plan offered under the West Virginia Employee Stock Purchase Plan is the Traditional Employee Stock Purchase Plan. This plan allows eligible employees to contribute a percentage of their salary, usually up to a certain limit, to purchase Charming Shoppes, Inc. stock during specified buying periods. The stock is typically offered at a discounted price, often at a slight reduction from the market value. Another type of plan is the Dividend Reinvestment Plan (DRIP), which may also be available under the West Virginia Employee Stock Purchase Plan of Charming Shoppes, Inc. With this plan, employees who already own Charming Shoppes, Inc. stock can choose to reinvest their dividends directly into additional company shares, instead of receiving cash payouts. This allows for the potential accumulation of more shares over time and helps employees maximize their investments. Participating in the West Virginia Employee Stock Purchase Plan can be a valuable financial opportunity for eligible employees of Charming Shoppes, Inc. It provides a convenient and affordable way to acquire company stock and potentially benefit from its future growth. By being a shareholder, employees can also have a sense of ownership in the company and feel aligned with its long-term success. Please note that the specifics of the West Virginia Employee Stock Purchase Plan of Charming Shoppes, Inc. may vary, and it is essential for employees to refer to the official plan documents and consult with their company's HR department for comprehensive information.