Fairfax Virginia Employee Stock Purchase Plan of Charming Shoppes, Inc.

• Category: Corporations - Public - Employees
• State: Multi-State
• County: Fairfax
• 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 Fairfax Virginia Employee Stock Purchase Plan of Charming Shoppes, Inc. is a program that allows eligible employees of the company to purchase company stock at a discounted price. This plan helps employees become shareholders and participate in the financial growth of the company. Here is a detailed description of the Fairfax Virginia Employee Stock Purchase Plan of Charming Shoppes, Inc., including different types of plans: 1. Fairfax Virginia Employee Stock Purchase Plan (ESPN): The ESPN is designed to encourage eligible employees to save for the future by offering them the opportunity to purchase company stock at a lower price than the market value. Employees can contribute a portion of their paycheck to purchase these stocks. 2. Fairfax Virginia Restricted Stock Units (RSS): Another type of employee stock purchase plan offered by Charming Shoppes, Inc. is the RSU plan. Under this plan, eligible employees are granted a certain number of RSS, which convert into company shares over time. This method incentivizes long-term commitment and aligns employee interests with the company's success. 3. Fairfax Virginia Stock Options: Charming Shoppes, Inc. may also offer stock options as part of its Employee Stock Purchase Plan. Stock options provide employees with the right to purchase company stock at a predetermined price within a specific period. This plan offers potential financial gains if the company's stock price increases during the option period. 4. Fairfax Virginia Employee Stock Ownership Plan (ESOP): The ESOP is a unique feature of Charming Shoppes, Inc.'s Employee Stock Purchase Plan. Through this plan, eligible employees can become partial owners of the company. Shares are allocated to employees' accounts based on their years of service, salary, or other predetermined criteria. Sops aim to create a sense of ownership, loyalty, and alignment between employees and the company's success. Participation in the Fairfax Virginia Employee Stock Purchase Plan generally requires meeting specific eligibility criteria such as minimum tenure, employment status, and number of hours worked. Employees can usually contribute a percentage of their salary, subject to legal limits, towards the purchase of company stock. The exact terms and conditions, including the discount percentage, holding periods, and enrollment periods, may vary depending on the plan chosen. Overall, the Fairfax Virginia Employee Stock Purchase Plan of Charming Shoppes, Inc. offers various options for employees to invest in the company's stock, fostering a sense of ownership and providing potential financial benefits.

Fairfax Virginia Employee Stock Purchase Plan of Charming Shoppes, Inc. is a program that allows eligible employees of the company to purchase company stock at a discounted price. This plan helps employees become shareholders and participate in the financial growth of the company. Here is a detailed description of the Fairfax Virginia Employee Stock Purchase Plan of Charming Shoppes, Inc., including different types of plans: 1. Fairfax Virginia Employee Stock Purchase Plan (ESPN): The ESPN is designed to encourage eligible employees to save for the future by offering them the opportunity to purchase company stock at a lower price than the market value. Employees can contribute a portion of their paycheck to purchase these stocks. 2. Fairfax Virginia Restricted Stock Units (RSS): Another type of employee stock purchase plan offered by Charming Shoppes, Inc. is the RSU plan. Under this plan, eligible employees are granted a certain number of RSS, which convert into company shares over time. This method incentivizes long-term commitment and aligns employee interests with the company's success. 3. Fairfax Virginia Stock Options: Charming Shoppes, Inc. may also offer stock options as part of its Employee Stock Purchase Plan. Stock options provide employees with the right to purchase company stock at a predetermined price within a specific period. This plan offers potential financial gains if the company's stock price increases during the option period. 4. Fairfax Virginia Employee Stock Ownership Plan (ESOP): The ESOP is a unique feature of Charming Shoppes, Inc.'s Employee Stock Purchase Plan. Through this plan, eligible employees can become partial owners of the company. Shares are allocated to employees' accounts based on their years of service, salary, or other predetermined criteria. Sops aim to create a sense of ownership, loyalty, and alignment between employees and the company's success. Participation in the Fairfax Virginia Employee Stock Purchase Plan generally requires meeting specific eligibility criteria such as minimum tenure, employment status, and number of hours worked. Employees can usually contribute a percentage of their salary, subject to legal limits, towards the purchase of company stock. The exact terms and conditions, including the discount percentage, holding periods, and enrollment periods, may vary depending on the plan chosen. Overall, the Fairfax Virginia Employee Stock Purchase Plan of Charming Shoppes, Inc. offers various options for employees to invest in the company's stock, fostering a sense of ownership and providing potential financial benefits.