King Washington Employee Stock Purchase Plan of Charming Shoppes, Inc.

• Category: Corporations - Public - Employees
• State: Multi-State
• County: King
• 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

King Washington Employee Stock Purchase Plan is a benefit offered to employees of Charming Shoppes, Inc. This plan allows employees to purchase company stock at a discount, thereby providing an opportunity for them to become shareholders and benefit from the company's success. The King Washington Employee Stock Purchase Plan is designed to encourage employee participation and foster a sense of ownership within the organization. It empowers employees to acquire stock through regular payroll deductions, which are then used to purchase company shares at a lower price than the prevailing market value. There are different types of King Washington Employee Stock Purchase Plan options available to employees. These may include a traditional Employee Stock Purchase Plan (ESPN), which allows employees to buy company stock at a discount during specified enrollment periods. Another option could be a Direct Stock Purchase Plan (DSP), where employees can buy shares directly from the company on a recurring basis, often through automated payroll deductions. By participating in the King Washington Employee Stock Purchase Plan, employees can not only potentially grow their personal wealth but also align their financial interests with the success of Charming Shoppes, Inc. This can foster a stronger commitment to the company's goals and long-term growth. Participation in the King Washington Employee Stock Purchase Plan offers certain advantages. First and foremost, employees can purchase stock at a discounted price, enabling them to acquire more shares for their investment. Additionally, the plan often provides tax advantages, such as favorable capital gains treatment or tax-deferred growth, making it a more attractive investment opportunity. It is worth noting that the specific details of the King Washington Employee Stock Purchase Plan may vary depending on the terms set by Charming Shoppes, Inc. Eligibility requirements, maximum contribution limits, and the discount offered can differ from one plan to another. Overall, the King Washington Employee Stock Purchase Plan is a valuable benefit that allows Charming Shoppes, Inc. employees to share in the company's success and potentially build wealth over the long term. By actively participating in this plan, employees have the opportunity to become shareholders, align their financial interests, and contribute to the overall growth and success of the organization.