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

• Category: Corporations - Public - Employees
• State: Multi-State
• County: Cook
• 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 Cook Illinois Employee Stock Purchase Plan is a program offered by Charming Shoppes, Inc. to its employees, allowing them to purchase company stock at a discounted price. Through this plan, employees can invest in the success and growth of Charming Shoppes and potentially benefit from the appreciation of the company's stock value over time. The Cook Illinois Employee Stock Purchase Plan is designed to motivate and reward employees by encouraging them to become stakeholders in the company. By participating in the program, employees can take advantage of the ability to purchase company stock with a portion of their paycheck before taxes, enhancing the affordability and accessibility of stock ownership. One significant advantage of the Cook Illinois Employee Stock Purchase Plan is the discounted stock price offered to employees. This discount can often be as high as 15%, enabling employees to acquire company shares at a lower price compared to the public. This discounted rate gives employees a unique opportunity to accumulate shares and potentially benefit from the company's future success. There are different types of Cook Illinois Employee Stock Purchase Plan available within Charming Shoppes, Inc. These include: 1. Standard Purchase Plan: This plan allows employees to contribute a specific percentage of their salary towards the purchase of company stock, typically at a discounted price. The accumulated funds are usually used to buy company stocks at defined intervals, such as quarterly or semi-annually. 2. Payroll Deduction Plan: Under this plan, employees have the option to deduct a portion of their wages, which are then used to purchase company stock. The accumulated deductions are typically used to buy the shares at predetermined intervals. 3. Immediate Purchase Plan: This plan allows employees to purchase company stock immediately upon enrollment into the Cook Illinois Employee Stock Purchase Plan. This can be an attractive option for employees who wish to invest in the company right away and potentially benefit from any increase in stock value. The Cook Illinois Employee Stock Purchase Plan is a valuable benefit offered by Charming Shoppes, Inc., providing employees with an opportunity to invest in their company's success while enjoying the potential benefits of stock ownership. It serves as a means of fostering loyalty, employee engagement, and alignment with the company's goals and objectives.

Cook Illinois Employee Stock Purchase Plan is a program offered by Charming Shoppes, Inc. to its employees, allowing them to purchase company stock at a discounted price. Through this plan, employees can invest in the success and growth of Charming Shoppes and potentially benefit from the appreciation of the company's stock value over time. The Cook Illinois Employee Stock Purchase Plan is designed to motivate and reward employees by encouraging them to become stakeholders in the company. By participating in the program, employees can take advantage of the ability to purchase company stock with a portion of their paycheck before taxes, enhancing the affordability and accessibility of stock ownership. One significant advantage of the Cook Illinois Employee Stock Purchase Plan is the discounted stock price offered to employees. This discount can often be as high as 15%, enabling employees to acquire company shares at a lower price compared to the public. This discounted rate gives employees a unique opportunity to accumulate shares and potentially benefit from the company's future success. There are different types of Cook Illinois Employee Stock Purchase Plan available within Charming Shoppes, Inc. These include: 1. Standard Purchase Plan: This plan allows employees to contribute a specific percentage of their salary towards the purchase of company stock, typically at a discounted price. The accumulated funds are usually used to buy company stocks at defined intervals, such as quarterly or semi-annually. 2. Payroll Deduction Plan: Under this plan, employees have the option to deduct a portion of their wages, which are then used to purchase company stock. The accumulated deductions are typically used to buy the shares at predetermined intervals. 3. Immediate Purchase Plan: This plan allows employees to purchase company stock immediately upon enrollment into the Cook Illinois Employee Stock Purchase Plan. This can be an attractive option for employees who wish to invest in the company right away and potentially benefit from any increase in stock value. The Cook Illinois Employee Stock Purchase Plan is a valuable benefit offered by Charming Shoppes, Inc., providing employees with an opportunity to invest in their company's success while enjoying the potential benefits of stock ownership. It serves as a means of fostering loyalty, employee engagement, and alignment with the company's goals and objectives.