Fulton Georgia Employee Stock Purchase Plan of Charming Shoppes, Inc.

• Category: Corporations - Public - Employees
• State: Multi-State
• County: Fulton
• 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 Fulton Georgia Employee Stock Purchase Plan (ESPN) is a benefit offered by Charming Shoppes, Inc., a prominent retail company based in Fulton, Georgia. The company allows its employees to participate in a stock purchase program to become shareholders, fostering a sense of ownership and enabling them to financially benefit from the company's success. The Fulton Georgia ESPN is designed to provide employees with a convenient and cost-effective way to invest in Charming Shoppes, Inc. stock. This program allows eligible employees to contribute a portion of their salary towards purchasing company shares at a discounted price. By offering a discounted rate, Charming Shoppes, Inc. encourages employee participation and aims to align the interests of its workforce with the company's growth and profitability. With the Fulton Georgia ESPN, employees can accumulate shares over a set period, typically through payroll deductions, gradually building their investment portfolio. This plan can serve as a vehicle for long-term financial growth and savings as it offers employees the opportunity to buy company stock at a lower price than the prevailing market value. The different types of Fulton Georgia Employee Stock Purchase Plans offered by Charming Shoppes, Inc. may include: 1. Standard ESPN: Charming Shoppes, Inc. offers a traditional ESPN, allowing employees to purchase company shares at a discounted price on a regular basis. This ongoing plan promotes a consistent investment approach and empowers employees to accumulate shares over time. 2. Enrollment Periods: The company may have specific enrollment periods for its ESPN, where employees can sign up or make changes to their contributions. These periods ensure that employees have the opportunity to join or modify their participation in the program at regular intervals. 3. Vesting Schedule: Charming Shoppes, Inc. might implement a vesting schedule as part of its ESPN, which determines the ownership rights and accessibility of purchased shares. This schedule may require employees to hold their shares for a specific period before fully owning them, ensuring long-term commitment and alignment with the company's objectives. 4. Look back Provision: Some ESPN may include a "look back provision," allowing employees to purchase shares at a discounted price based on the lowest of either the stock price at the beginning or end of the offering period. This provision enables employees to maximize their benefits by obtaining shares at a more favorable price. Participating in Fulton Georgia Employee Stock Purchase Plan can be a valuable addition to employees' overall compensation package. It not only provides employees with an opportunity to invest in the company they work for but also offers potential financial rewards as the company's stock value grows over time.

Fulton Georgia Employee Stock Purchase Plan (ESPN) is a benefit offered by Charming Shoppes, Inc., a prominent retail company based in Fulton, Georgia. The company allows its employees to participate in a stock purchase program to become shareholders, fostering a sense of ownership and enabling them to financially benefit from the company's success. The Fulton Georgia ESPN is designed to provide employees with a convenient and cost-effective way to invest in Charming Shoppes, Inc. stock. This program allows eligible employees to contribute a portion of their salary towards purchasing company shares at a discounted price. By offering a discounted rate, Charming Shoppes, Inc. encourages employee participation and aims to align the interests of its workforce with the company's growth and profitability. With the Fulton Georgia ESPN, employees can accumulate shares over a set period, typically through payroll deductions, gradually building their investment portfolio. This plan can serve as a vehicle for long-term financial growth and savings as it offers employees the opportunity to buy company stock at a lower price than the prevailing market value. The different types of Fulton Georgia Employee Stock Purchase Plans offered by Charming Shoppes, Inc. may include: 1. Standard ESPN: Charming Shoppes, Inc. offers a traditional ESPN, allowing employees to purchase company shares at a discounted price on a regular basis. This ongoing plan promotes a consistent investment approach and empowers employees to accumulate shares over time. 2. Enrollment Periods: The company may have specific enrollment periods for its ESPN, where employees can sign up or make changes to their contributions. These periods ensure that employees have the opportunity to join or modify their participation in the program at regular intervals. 3. Vesting Schedule: Charming Shoppes, Inc. might implement a vesting schedule as part of its ESPN, which determines the ownership rights and accessibility of purchased shares. This schedule may require employees to hold their shares for a specific period before fully owning them, ensuring long-term commitment and alignment with the company's objectives. 4. Look back Provision: Some ESPN may include a "look back provision," allowing employees to purchase shares at a discounted price based on the lowest of either the stock price at the beginning or end of the offering period. This provision enables employees to maximize their benefits by obtaining shares at a more favorable price. Participating in Fulton Georgia Employee Stock Purchase Plan can be a valuable addition to employees' overall compensation package. It not only provides employees with an opportunity to invest in the company they work for but also offers potential financial rewards as the company's stock value grows over time.