Bronx New York Employee Stock Purchase Plan of Charming Shoppes, Inc.

• Category: Corporations - Public - Employees
• State: Multi-State
• County: Bronx
• 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 Bronx New York Employee Stock Purchase Plan of Charming Shoppes, Inc. is a financial benefit offered to employees who work for Charming Shoppes, Inc. in the Bronx, New York. This stock purchase plan allows eligible employees to purchase company stock at a discounted price through payroll deductions. The Employee Stock Purchase Plan (ESPN) is a form of employee ownership that gives employees the opportunity to become shareholders of the company they work for. It is designed to motivate and retain employees by providing them with a sense of ownership and shared prosperity. Under the Bronx New York ESPN, participating employees can contribute a set percentage of their salary towards the purchase of company stock. These payroll deductions are typically taken on a regular basis, such as monthly or quarterly, to accumulate shares over time. One of the key advantages of the ESPN is the ability to purchase company stock at a discounted price. This discount can range from 5% to 15% off the fair market value of the stock, providing employees with instant savings and the potential for future financial gains. The Bronx New York ESPN may have different types or variations depending on the specific details and terms set by Charming Shoppes, Inc. These variations could include differing discount rates, contribution limits, and enrollment periods. It is important for employees to carefully review the plan documents to understand the specific features and benefits of the ESPN available to them. Employees participating in the Bronx New York ESPN should also familiarize themselves with any vesting schedule imposed by the company. A vesting schedule determines when employees gain ownership rights to the stock they have purchased. This ensures that employees remain with the company for a certain period of time before fully benefiting from their investments. Overall, the Bronx New York Employee Stock Purchase Plan of Charming Shoppes, Inc. provides employees with a valuable opportunity to invest in the company they work for and potentially share in its success. By allowing employees to purchase stock at a discounted price through convenient payroll deductions, it promotes a culture of ownership and long-term commitment among the workforce.

The Bronx New York Employee Stock Purchase Plan of Charming Shoppes, Inc. is a financial benefit offered to employees who work for Charming Shoppes, Inc. in the Bronx, New York. This stock purchase plan allows eligible employees to purchase company stock at a discounted price through payroll deductions. The Employee Stock Purchase Plan (ESPN) is a form of employee ownership that gives employees the opportunity to become shareholders of the company they work for. It is designed to motivate and retain employees by providing them with a sense of ownership and shared prosperity. Under the Bronx New York ESPN, participating employees can contribute a set percentage of their salary towards the purchase of company stock. These payroll deductions are typically taken on a regular basis, such as monthly or quarterly, to accumulate shares over time. One of the key advantages of the ESPN is the ability to purchase company stock at a discounted price. This discount can range from 5% to 15% off the fair market value of the stock, providing employees with instant savings and the potential for future financial gains. The Bronx New York ESPN may have different types or variations depending on the specific details and terms set by Charming Shoppes, Inc. These variations could include differing discount rates, contribution limits, and enrollment periods. It is important for employees to carefully review the plan documents to understand the specific features and benefits of the ESPN available to them. Employees participating in the Bronx New York ESPN should also familiarize themselves with any vesting schedule imposed by the company. A vesting schedule determines when employees gain ownership rights to the stock they have purchased. This ensures that employees remain with the company for a certain period of time before fully benefiting from their investments. Overall, the Bronx New York Employee Stock Purchase Plan of Charming Shoppes, Inc. provides employees with a valuable opportunity to invest in the company they work for and potentially share in its success. By allowing employees to purchase stock at a discounted price through convenient payroll deductions, it promotes a culture of ownership and long-term commitment among the workforce.