Hennepin Minnesota Employee Stock Purchase Plan of Charming Shoppes, Inc.

• Category: Corporations - Public - Employees
• State: Multi-State
• County: Hennepin
• 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 Hennepin Minnesota Employee Stock Purchase Plan of Charming Shoppes Inc. is an employee benefit program offered by the company to its employees in Hennepin County, Minnesota. This plan allows employees to purchase company stock at a discounted price, usually through payroll deductions. Charming Shoppes, Inc. is a retail company that operates various fashion apparel brands, including Lane Bryant, Catherine's, and Fashion Bug. As part of its employee benefits package, the company offers the Employee Stock Purchase Plan (ESPN) to eligible employees who work in Hennepin County, Minnesota. By participating in the Hennepin Minnesota Employee Stock Purchase Plan, employees can allocate a portion of their wages toward purchasing Charming Shoppes' stocks at a discounted rate. The discounted purchase price is typically offered at either a fixed discount or a percentage of the market price, providing employees with an attractive investment opportunity. Participating in an ESPN can be advantageous for employees as it allows them to become shareholders of the company they work for. This arrangement can provide potential financial gains if the stock value increases over time. Additionally, employees may also have the option to sell their purchased shares, potentially realizing a profit. The Hennepin Minnesota Employee Stock Purchase Plan of Charming Shoppes, Inc. can be categorized into different types, depending on the specific features offered by the company. For example, some variations may include a look back provision, which allows employees to purchase stock at the lowest of the discounted price or the market price at the beginning or end of a specific period. Another type of ESPN may include a holding period, requiring employees to hold the purchased stocks for a predetermined period before selling. Getting involved in an employee stock purchase plan can be an excellent way for employees to participate in the success of the company they work for and potentially earn investment returns. The Hennepin Minnesota Employee Stock Purchase Plan of Charming Shoppes, Inc. offers employees the opportunity to build a financial stake in the company and benefit from its growth.

The Hennepin Minnesota Employee Stock Purchase Plan of Charming Shoppes Inc. is an employee benefit program offered by the company to its employees in Hennepin County, Minnesota. This plan allows employees to purchase company stock at a discounted price, usually through payroll deductions. Charming Shoppes, Inc. is a retail company that operates various fashion apparel brands, including Lane Bryant, Catherine's, and Fashion Bug. As part of its employee benefits package, the company offers the Employee Stock Purchase Plan (ESPN) to eligible employees who work in Hennepin County, Minnesota. By participating in the Hennepin Minnesota Employee Stock Purchase Plan, employees can allocate a portion of their wages toward purchasing Charming Shoppes' stocks at a discounted rate. The discounted purchase price is typically offered at either a fixed discount or a percentage of the market price, providing employees with an attractive investment opportunity. Participating in an ESPN can be advantageous for employees as it allows them to become shareholders of the company they work for. This arrangement can provide potential financial gains if the stock value increases over time. Additionally, employees may also have the option to sell their purchased shares, potentially realizing a profit. The Hennepin Minnesota Employee Stock Purchase Plan of Charming Shoppes, Inc. can be categorized into different types, depending on the specific features offered by the company. For example, some variations may include a look back provision, which allows employees to purchase stock at the lowest of the discounted price or the market price at the beginning or end of a specific period. Another type of ESPN may include a holding period, requiring employees to hold the purchased stocks for a predetermined period before selling. Getting involved in an employee stock purchase plan can be an excellent way for employees to participate in the success of the company they work for and potentially earn investment returns. The Hennepin Minnesota Employee Stock Purchase Plan of Charming Shoppes, Inc. offers employees the opportunity to build a financial stake in the company and benefit from its growth.