Franklin Ohio Employee Stock Purchase Plan of Charming Shoppes, Inc.

• Category: Corporations - Public - Employees
• State: Multi-State
• County: Franklin
• 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 Franklin Ohio Employee Stock Purchase Plan (ESPN) is a benefit program offered by Charming Shoppes, Inc., a renowned retail company based in Franklin, Ohio. It provides employees with the opportunity to purchase company stocks at a discounted price. The ESPN aims to enhance employee participation in the company's success by allowing them to become shareholders and reap the benefits of the company's growth. Under the Franklin Ohio Employee Stock Purchase Plan, eligible employees have the chance to buy company stocks through automatic payroll deductions. This means that a portion of their wages is set aside regularly to accumulate funds for purchasing the stocks. By doing so, employees can easily invest in Charming Shoppes, Inc. without the need for significant upfront capital. One of the key features of the Franklin Ohio Employee Stock Purchase Plan is the advantage of purchasing company stocks at a discounted rate. The ESPN typically offers a discounted price on the stock, which can be either a fixed percentage or determined using a formula. This discount incentivizes employees to invest in the company and take advantage of potential long-term growth. It is worth mentioning that the Franklin Ohio Employee Stock Purchase Plan might have different types or variations. These could include: 1. Standard Employee Stock Purchase Plan: This is the most common type of ESPN, where employees can purchase company stocks at a pre-determined discount. 2. Restricted Stock Purchase Plan: This type of ESPN might have additional eligibility criteria, such as requiring employees to have a specified length of service or meet certain performance targets to participate. 3. Qualified Stock Purchase Plan: A qualified ESPN offers certain tax advantages for employees, such as special tax rates or tax deferral options. 4. Non-Qualified Stock Purchase Plan: Unlike a qualified ESPN, a non-qualified ESPN does not provide the same tax advantages but still allows employees to purchase company stocks at a discount. By providing the Franklin Ohio Employee Stock Purchase Plan, Charming Shoppes, Inc. demonstrates its commitment to fostering employee ownership and engagement. This program not only encourages employees to financially benefit from the company's success but also aligns their interests with those of the organization.

The Franklin Ohio Employee Stock Purchase Plan (ESPN) is a benefit program offered by Charming Shoppes, Inc., a renowned retail company based in Franklin, Ohio. It provides employees with the opportunity to purchase company stocks at a discounted price. The ESPN aims to enhance employee participation in the company's success by allowing them to become shareholders and reap the benefits of the company's growth. Under the Franklin Ohio Employee Stock Purchase Plan, eligible employees have the chance to buy company stocks through automatic payroll deductions. This means that a portion of their wages is set aside regularly to accumulate funds for purchasing the stocks. By doing so, employees can easily invest in Charming Shoppes, Inc. without the need for significant upfront capital. One of the key features of the Franklin Ohio Employee Stock Purchase Plan is the advantage of purchasing company stocks at a discounted rate. The ESPN typically offers a discounted price on the stock, which can be either a fixed percentage or determined using a formula. This discount incentivizes employees to invest in the company and take advantage of potential long-term growth. It is worth mentioning that the Franklin Ohio Employee Stock Purchase Plan might have different types or variations. These could include: 1. Standard Employee Stock Purchase Plan: This is the most common type of ESPN, where employees can purchase company stocks at a pre-determined discount. 2. Restricted Stock Purchase Plan: This type of ESPN might have additional eligibility criteria, such as requiring employees to have a specified length of service or meet certain performance targets to participate. 3. Qualified Stock Purchase Plan: A qualified ESPN offers certain tax advantages for employees, such as special tax rates or tax deferral options. 4. Non-Qualified Stock Purchase Plan: Unlike a qualified ESPN, a non-qualified ESPN does not provide the same tax advantages but still allows employees to purchase company stocks at a discount. By providing the Franklin Ohio Employee Stock Purchase Plan, Charming Shoppes, Inc. demonstrates its commitment to fostering employee ownership and engagement. This program not only encourages employees to financially benefit from the company's success but also aligns their interests with those of the organization.