Chicago Illinois Employee Stock Purchase Plan of Charming Shoppes, Inc.

• Category: Corporations - Public - Employees
• State: Multi-State
• City: Chicago
• 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 Chicago Illinois Employee Stock Purchase Plan of Charming Shoppes, Inc. is a unique program designed to provide convenient stock purchasing options for employees of Charming Shoppes, Inc., based in Chicago, Illinois. Established as a way to enhance employee incentives and foster long-term loyalty among the workforce, this program allows eligible employees to purchase company stock at a discounted price. This employee stock purchase plan (ESPN) offers several key benefits to participants. Firstly, it allows employees to accumulate shares of Charming Shoppes, Inc. while taking advantage of a reduced cost compared to traditional market prices. By offering this discounted purchase option, Charming Shoppes aims to provide employees with a significant investment opportunity, potentially leading to considerable financial gains over time. The Chicago Illinois Employee Stock Purchase Plan also encourages a sense of ownership and involvement in the company's performance. Participants have the advantage of aligning their financial interests with the success of Charming Shoppes, creating a win-win situation for both the company and its employees. This plan ultimately fosters a sense of engagement and commitment throughout the workforce, motivating employees to contribute to the company's growth and profitability. Different variations or types of this employee stock purchase plan may exist within Charming Shoppes, Inc., depending on certain criteria or conditions. These variations may include eligibility requirements, discount rates, holding periods, and the frequency of stock purchases. It is advisable for employees to consult the official company documentation or employee handbook to access the most accurate and relevant information about the plan specific to their location and role within the organization. In summary, the Chicago Illinois Employee Stock Purchase Plan of Charming Shoppes, Inc. serves as an excellent opportunity for employees to become shareholders in the company and reap the benefits of future stock price appreciation. It not only provides a discounted purchase option but also promotes a sense of ownership and engagement among participants. By participating in this program, employees have the potential to gain financial rewards while contributing to the company's success.

Chicago Illinois Employee Stock Purchase Plan of Charming Shoppes, Inc. is a unique program designed to provide convenient stock purchasing options for employees of Charming Shoppes, Inc., based in Chicago, Illinois. Established as a way to enhance employee incentives and foster long-term loyalty among the workforce, this program allows eligible employees to purchase company stock at a discounted price. This employee stock purchase plan (ESPN) offers several key benefits to participants. Firstly, it allows employees to accumulate shares of Charming Shoppes, Inc. while taking advantage of a reduced cost compared to traditional market prices. By offering this discounted purchase option, Charming Shoppes aims to provide employees with a significant investment opportunity, potentially leading to considerable financial gains over time. The Chicago Illinois Employee Stock Purchase Plan also encourages a sense of ownership and involvement in the company's performance. Participants have the advantage of aligning their financial interests with the success of Charming Shoppes, creating a win-win situation for both the company and its employees. This plan ultimately fosters a sense of engagement and commitment throughout the workforce, motivating employees to contribute to the company's growth and profitability. Different variations or types of this employee stock purchase plan may exist within Charming Shoppes, Inc., depending on certain criteria or conditions. These variations may include eligibility requirements, discount rates, holding periods, and the frequency of stock purchases. It is advisable for employees to consult the official company documentation or employee handbook to access the most accurate and relevant information about the plan specific to their location and role within the organization. In summary, the Chicago Illinois Employee Stock Purchase Plan of Charming Shoppes, Inc. serves as an excellent opportunity for employees to become shareholders in the company and reap the benefits of future stock price appreciation. It not only provides a discounted purchase option but also promotes a sense of ownership and engagement among participants. By participating in this program, employees have the potential to gain financial rewards while contributing to the company's success.