Collin Texas Employee Stock Purchase Plan of Charming Shoppes, Inc.

• Category: Corporations - Public - Employees
• State: Multi-State
• County: Collin
• 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 Collin Texas Employee Stock Purchase Plan of Charming Shoppes, Inc. is a beneficial program designed to offer its employees the opportunity to purchase company stocks at discounted rates. This plan provides employees with a chance to invest in the company they work for, potentially benefiting from its growth and success. Charming Shoppes, Inc. is a well-established retail corporation offering trendy clothing and accessories for women. To ensure employee satisfaction and loyalty, Charming Shoppes, Inc. has introduced the Collin Texas Employee Stock Purchase Plan, enhancing employee motivation and engagement. Employees participating in this plan are given the chance to purchase company stock through payroll deductions. By allocating a portion of their salary, employees can gradually accumulate shares in Charming Shoppes, Inc., ultimately becoming partial owners of the company. The Collin Texas Employee Stock Purchase Plan also provides employees with substantial advantages. Firstly, participating employees have an opportunity to purchase company stock at a discounted price, which is typically lower than the current market value. This significantly encourages investment and allows employees to capitalize on potential gains in the stock market. Moreover, the plan encourages long-term commitments, as employees typically need to hold the purchased stock for a specific period before selling. This not only aligns their interests with the company's but also fosters loyalty and commitment to the long-term success of Charming Shoppes, Inc. Although the specifics may vary within the Collin Texas Employee Stock Purchase Plan, generally, there are two types: 1. Periodic Employee Stock Purchase Plan: Under this type, employees can buy company stock at regular intervals, usually quarterly or semi-annually. The stock purchase price is typically based on a predetermined formula, such as a percentage discount from the stock's fair market value. 2. Enrollment-Based Employee Stock Purchase Plan: In this type, employees can enroll within a specific period, usually annually, to participate in the program. The discount on stock purchase is determined similarly to the periodic plan. It is important for employees to thoroughly understand the terms and conditions of the Collin Texas Employee Stock Purchase Plan, including any restrictions or holding periods associated with the purchased stock. This ensures that employees make informed decisions regarding their investments and maximize the benefits offered by the program. In summary, the Collin Texas Employee Stock Purchase Plan of Charming Shoppes, Inc. is a valuable employee benefit program that allows employees to invest in the company and potentially reap financial rewards. By providing discounted stock purchase opportunities, Charming Shoppes, Inc. encourages employee loyalty and engagement, fostering a positive work environment.

Collin Texas Employee Stock Purchase Plan of Charming Shoppes, Inc. is a beneficial program designed to offer its employees the opportunity to purchase company stocks at discounted rates. This plan provides employees with a chance to invest in the company they work for, potentially benefiting from its growth and success. Charming Shoppes, Inc. is a well-established retail corporation offering trendy clothing and accessories for women. To ensure employee satisfaction and loyalty, Charming Shoppes, Inc. has introduced the Collin Texas Employee Stock Purchase Plan, enhancing employee motivation and engagement. Employees participating in this plan are given the chance to purchase company stock through payroll deductions. By allocating a portion of their salary, employees can gradually accumulate shares in Charming Shoppes, Inc., ultimately becoming partial owners of the company. The Collin Texas Employee Stock Purchase Plan also provides employees with substantial advantages. Firstly, participating employees have an opportunity to purchase company stock at a discounted price, which is typically lower than the current market value. This significantly encourages investment and allows employees to capitalize on potential gains in the stock market. Moreover, the plan encourages long-term commitments, as employees typically need to hold the purchased stock for a specific period before selling. This not only aligns their interests with the company's but also fosters loyalty and commitment to the long-term success of Charming Shoppes, Inc. Although the specifics may vary within the Collin Texas Employee Stock Purchase Plan, generally, there are two types: 1. Periodic Employee Stock Purchase Plan: Under this type, employees can buy company stock at regular intervals, usually quarterly or semi-annually. The stock purchase price is typically based on a predetermined formula, such as a percentage discount from the stock's fair market value. 2. Enrollment-Based Employee Stock Purchase Plan: In this type, employees can enroll within a specific period, usually annually, to participate in the program. The discount on stock purchase is determined similarly to the periodic plan. It is important for employees to thoroughly understand the terms and conditions of the Collin Texas Employee Stock Purchase Plan, including any restrictions or holding periods associated with the purchased stock. This ensures that employees make informed decisions regarding their investments and maximize the benefits offered by the program. In summary, the Collin Texas Employee Stock Purchase Plan of Charming Shoppes, Inc. is a valuable employee benefit program that allows employees to invest in the company and potentially reap financial rewards. By providing discounted stock purchase opportunities, Charming Shoppes, Inc. encourages employee loyalty and engagement, fostering a positive work environment.