Clark Nevada Employee Stock Purchase Plan of Charming Shoppes, Inc.

• Category: Corporations - Public - Employees
• State: Multi-State
• County: Clark
• 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 Clark Nevada Employee Stock Purchase Plan (ESPN) is a program offered by Charming Shoppes, Inc., that allows employees of the company to purchase company stock at a discounted price. The ESPN is designed to provide employees with a convenient and affordable way to invest in the company's success and share in its growth. Under the Clark Nevada ESPN, eligible employees can allocate a portion of their income to purchase Charming Shoppes, Inc. stock. The ESPN offers several advantages, including a discount on the purchase price of the stock, potential tax advantages, and the ability to build long-term financial security. There are two main types of Clark Nevada ESPN plans offered by Charming Shoppes, Inc. These are: 1. Basic ESPN: This plan allows eligible employees to contribute a percentage of their paycheck to purchase Charming Shoppes, Inc. stock, usually at a discount from the market price. This plan typically has a defined enrollment period, during which employees can opt to participate and allocate a percentage of their income towards the stock purchase. The purchased stock is typically held in a designated account, and employees can choose to sell or hold the stock for future gains. 2. Advanced ESPN: This plan offers additional features and benefits beyond the basic ESPN. It may include features such as a higher discount on the purchase price, extended enrollment periods, or the ability to make periodic stock purchases throughout the year. The advanced ESPN is typically aimed at encouraging long-term employee participation and may offer additional incentives to retain and reward employees. The Clark Nevada ESPN of Charming Shoppes, Inc. is an excellent opportunity for employees to become shareholders in the company and potentially profit from its success. Participants in the ESPN have the chance to build wealth over time and align their financial interests with the performance of Charming Shoppes, Inc. Furthermore, the program promotes employee loyalty and engagement by allowing employees to share in the company's growth and success.

The Clark Nevada Employee Stock Purchase Plan (ESPN) is a program offered by Charming Shoppes, Inc., that allows employees of the company to purchase company stock at a discounted price. The ESPN is designed to provide employees with a convenient and affordable way to invest in the company's success and share in its growth. Under the Clark Nevada ESPN, eligible employees can allocate a portion of their income to purchase Charming Shoppes, Inc. stock. The ESPN offers several advantages, including a discount on the purchase price of the stock, potential tax advantages, and the ability to build long-term financial security. There are two main types of Clark Nevada ESPN plans offered by Charming Shoppes, Inc. These are: 1. Basic ESPN: This plan allows eligible employees to contribute a percentage of their paycheck to purchase Charming Shoppes, Inc. stock, usually at a discount from the market price. This plan typically has a defined enrollment period, during which employees can opt to participate and allocate a percentage of their income towards the stock purchase. The purchased stock is typically held in a designated account, and employees can choose to sell or hold the stock for future gains. 2. Advanced ESPN: This plan offers additional features and benefits beyond the basic ESPN. It may include features such as a higher discount on the purchase price, extended enrollment periods, or the ability to make periodic stock purchases throughout the year. The advanced ESPN is typically aimed at encouraging long-term employee participation and may offer additional incentives to retain and reward employees. The Clark Nevada ESPN of Charming Shoppes, Inc. is an excellent opportunity for employees to become shareholders in the company and potentially profit from its success. Participants in the ESPN have the chance to build wealth over time and align their financial interests with the performance of Charming Shoppes, Inc. Furthermore, the program promotes employee loyalty and engagement by allowing employees to share in the company's growth and success.