Broward Florida Employee Stock Purchase Plan of Charming Shoppes, Inc.

• Category: Corporations - Public - Employees
• State: Multi-State
• County: Broward
• 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 Broward Florida Employee Stock Purchase Plan (ESPN) of Charming Shoppes, Inc. is a program designed to provide employees with the opportunity to purchase company stocks at a discounted price. As an employee-based initiative, this plan aims to foster a sense of ownership and participation by allowing employees to become shareholders in Charming Shoppes, Inc. This initiative also serves as a way to incentivize and reward employees for their hard work and dedication. The Broward Florida ESPN ensures that employees have the chance to invest in the company's success, offering them the ability to purchase stocks at a lower price than those available on the open market. By participating in the plan, employees can potentially profit from the growth of the company, while simultaneously contributing to their personal financial goals. This stock purchase plan offers various options for employees depending on their preferences and financial capabilities. Charming Shoppes, Inc. may offer different types of Broward Florida ESPN to cater to individual employee needs. Some potential types of ESPN could include: 1. Basic Stock Purchase Plan: This type of ESPN provides employees with the opportunity to purchase company stocks at a discounted price during specified offering periods. These periods may occur multiple times throughout the year, allowing employees to accumulate shares of Charming Shoppes, Inc. gradually. 2. Dividend Reinvestment Plan: In conjunction with the stock purchase plan, Charming Shoppes, Inc. may offer a dividend reinvestment plan. This plan allows employees to automatically reinvest their cash dividends into additional shares of the company's stock, further enhancing their investment and potential returns. 3. Matching Contribution Plan: In some cases, Charming Shoppes, Inc. may choose to match a portion of employees' stock purchases. This matching contribution can serve as an additional incentive for employees to participate in the ESPN. By matching a percentage of the employee's contributions, the company encourages participation and aligns employees' financial interests with the success of the organization. It is important for employees to familiarize themselves with the specific details of the Broward Florida ESPN, including any restrictions, eligibility criteria, and tax implications. Understanding how the plan works and its potential benefits can empower employees to make informed decisions about participating in the ESPN and taking advantage of this unique opportunity provided by Charming Shoppes, Inc.

The Broward Florida Employee Stock Purchase Plan (ESPN) of Charming Shoppes, Inc. is a program designed to provide employees with the opportunity to purchase company stocks at a discounted price. As an employee-based initiative, this plan aims to foster a sense of ownership and participation by allowing employees to become shareholders in Charming Shoppes, Inc. This initiative also serves as a way to incentivize and reward employees for their hard work and dedication. The Broward Florida ESPN ensures that employees have the chance to invest in the company's success, offering them the ability to purchase stocks at a lower price than those available on the open market. By participating in the plan, employees can potentially profit from the growth of the company, while simultaneously contributing to their personal financial goals. This stock purchase plan offers various options for employees depending on their preferences and financial capabilities. Charming Shoppes, Inc. may offer different types of Broward Florida ESPN to cater to individual employee needs. Some potential types of ESPN could include: 1. Basic Stock Purchase Plan: This type of ESPN provides employees with the opportunity to purchase company stocks at a discounted price during specified offering periods. These periods may occur multiple times throughout the year, allowing employees to accumulate shares of Charming Shoppes, Inc. gradually. 2. Dividend Reinvestment Plan: In conjunction with the stock purchase plan, Charming Shoppes, Inc. may offer a dividend reinvestment plan. This plan allows employees to automatically reinvest their cash dividends into additional shares of the company's stock, further enhancing their investment and potential returns. 3. Matching Contribution Plan: In some cases, Charming Shoppes, Inc. may choose to match a portion of employees' stock purchases. This matching contribution can serve as an additional incentive for employees to participate in the ESPN. By matching a percentage of the employee's contributions, the company encourages participation and aligns employees' financial interests with the success of the organization. It is important for employees to familiarize themselves with the specific details of the Broward Florida ESPN, including any restrictions, eligibility criteria, and tax implications. Understanding how the plan works and its potential benefits can empower employees to make informed decisions about participating in the ESPN and taking advantage of this unique opportunity provided by Charming Shoppes, Inc.