Allegheny Pennsylvania Employee Stock Purchase Plan of Charming Shoppes, Inc.

• Category: Corporations - Public - Employees
• State: Multi-State
• County: Allegheny
• 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 Charming Shoppes, Inc., a former retail company, was established in 1940 and was headquartered in Bensalem, Pennsylvania. One of the attractive employee benefits offered by Charming Shoppes, Inc. was the Allegheny Pennsylvania Employee Stock Purchase Plan. This stock purchase plan allowed employees to own a piece of the company and share in its success. The Allegheny Pennsylvania Employee Stock Purchase Plan was designed to encourage employee loyalty and provide them with an opportunity to invest in the company's stocks at a discounted price. The plan was made available to all eligible employees of Charming Shoppes, Inc., who met the plan's requirements. This stock purchase plan had several features that made it appealing to employees. Firstly, it allowed employees to contribute a specified percentage of their income towards purchasing company stock. The contributions were deducted from their paychecks, which made it a convenient option for employees to participate in the plan. Secondly, the Allegheny Pennsylvania Employee Stock Purchase Plan offered employees the opportunity to buy company stock at a discounted price. This discount allowed employees to acquire shares below the market price, making it an attractive investment opportunity. The specific discount percentage may vary, and it would be outlined in the plan's details. Furthermore, the plan usually had a holding period during which employees were required to retain the purchased shares. This was typically done to align the employees' interests with the long-term success of Charming Shoppes, Inc. The holding period could range from a few months to several years, depending on the plan's terms. It's important to note that Charming Shoppes, Inc. may have offered different types of Allegheny Pennsylvania Employee Stock Purchase Plans. These variations could include plans tailored for different employee groups or levels within the organization, such as management or hourly employees. The specifics would be outlined in each respective plan, which may have their own unique features, eligibility criteria, and terms. Participating in an employee stock purchase plan can provide employees with an excellent opportunity to become company owners and potentially benefit from the company's growth and success. It is crucial for employees to review the plan's details, understand the terms and conditions, and consult with financial advisors to make informed investment decisions. Overall, the Allegheny Pennsylvania Employee Stock Purchase Plan of Charming Shoppes, Inc. aimed to create an environment where employees could share in the company's prosperity and further align their interests with the organization's long-term goals.

Charming Shoppes, Inc., a former retail company, was established in 1940 and was headquartered in Bensalem, Pennsylvania. One of the attractive employee benefits offered by Charming Shoppes, Inc. was the Allegheny Pennsylvania Employee Stock Purchase Plan. This stock purchase plan allowed employees to own a piece of the company and share in its success. The Allegheny Pennsylvania Employee Stock Purchase Plan was designed to encourage employee loyalty and provide them with an opportunity to invest in the company's stocks at a discounted price. The plan was made available to all eligible employees of Charming Shoppes, Inc., who met the plan's requirements. This stock purchase plan had several features that made it appealing to employees. Firstly, it allowed employees to contribute a specified percentage of their income towards purchasing company stock. The contributions were deducted from their paychecks, which made it a convenient option for employees to participate in the plan. Secondly, the Allegheny Pennsylvania Employee Stock Purchase Plan offered employees the opportunity to buy company stock at a discounted price. This discount allowed employees to acquire shares below the market price, making it an attractive investment opportunity. The specific discount percentage may vary, and it would be outlined in the plan's details. Furthermore, the plan usually had a holding period during which employees were required to retain the purchased shares. This was typically done to align the employees' interests with the long-term success of Charming Shoppes, Inc. The holding period could range from a few months to several years, depending on the plan's terms. It's important to note that Charming Shoppes, Inc. may have offered different types of Allegheny Pennsylvania Employee Stock Purchase Plans. These variations could include plans tailored for different employee groups or levels within the organization, such as management or hourly employees. The specifics would be outlined in each respective plan, which may have their own unique features, eligibility criteria, and terms. Participating in an employee stock purchase plan can provide employees with an excellent opportunity to become company owners and potentially benefit from the company's growth and success. It is crucial for employees to review the plan's details, understand the terms and conditions, and consult with financial advisors to make informed investment decisions. Overall, the Allegheny Pennsylvania Employee Stock Purchase Plan of Charming Shoppes, Inc. aimed to create an environment where employees could share in the company's prosperity and further align their interests with the organization's long-term goals.