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

• Category: Corporations - Public - Employees
• State: Multi-State
• County: Harris
• 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 Harris Texas Employee Stock Purchase Plan of Charming Shoppes, Inc. is a company benefit that offers employees the opportunity to purchase company stock at a discounted price. This plan is designed to give employees the chance to invest in the company's success and potentially earn a profit. As an employee of Charming Shoppes, Inc. in Harris Texas, you have access to two types of Employee Stock Purchase Plans: the Non-qualified Stock Purchase Plan (NMPP) and the Qualified Employee Stock Purchase Plan (ESPN). The NMPP allows employees to purchase company stock with after-tax dollars. This plan often offers a lower purchase price compared to the current market value of the stock. The NMPP usually provides a flexible enrollment period, and employees can contribute a percentage of their salary towards the purchase of company stock. On the other hand, the ESPN is a qualified plan that provides employees with the ability to purchase company stock through pre-tax payroll deductions. This plan also offers a discounted purchase price, making it an attractive option for employees looking to invest in the company. The ESPN generally follows a fixed enrollment period, allowing employees to contribute a set percentage of their salary towards acquiring company stock. Both the NMPP and ESPN typically come with specific participation rules and investment limits, so employees should review the plan details to fully understand the terms and conditions of each plan. It's important to note that the stock purchase discount may be subject to taxation, and any potential gains from the sale of the stock may be subject to capital gains tax. The Harris Texas Employee Stock Purchase Plan of Charming Shoppes, Inc. is an excellent opportunity for employees to become shareholders and align their financial interests with the company's success. By participating in either the NMPP or the ESPN, employees can take advantage of discounted stock prices and potentially enjoy long-term financial growth.

The Harris Texas Employee Stock Purchase Plan of Charming Shoppes, Inc. is a company benefit that offers employees the opportunity to purchase company stock at a discounted price. This plan is designed to give employees the chance to invest in the company's success and potentially earn a profit. As an employee of Charming Shoppes, Inc. in Harris Texas, you have access to two types of Employee Stock Purchase Plans: the Non-qualified Stock Purchase Plan (NMPP) and the Qualified Employee Stock Purchase Plan (ESPN). The NMPP allows employees to purchase company stock with after-tax dollars. This plan often offers a lower purchase price compared to the current market value of the stock. The NMPP usually provides a flexible enrollment period, and employees can contribute a percentage of their salary towards the purchase of company stock. On the other hand, the ESPN is a qualified plan that provides employees with the ability to purchase company stock through pre-tax payroll deductions. This plan also offers a discounted purchase price, making it an attractive option for employees looking to invest in the company. The ESPN generally follows a fixed enrollment period, allowing employees to contribute a set percentage of their salary towards acquiring company stock. Both the NMPP and ESPN typically come with specific participation rules and investment limits, so employees should review the plan details to fully understand the terms and conditions of each plan. It's important to note that the stock purchase discount may be subject to taxation, and any potential gains from the sale of the stock may be subject to capital gains tax. The Harris Texas Employee Stock Purchase Plan of Charming Shoppes, Inc. is an excellent opportunity for employees to become shareholders and align their financial interests with the company's success. By participating in either the NMPP or the ESPN, employees can take advantage of discounted stock prices and potentially enjoy long-term financial growth.