Nassau New York Employee Stock Purchase Plan of Charming Shoppes, Inc.

• Category: Corporations - Public - Employees
• State: Multi-State
• County: Nassau
• 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 Nassau New York Employee Stock Purchase Plan (ESPN) of Charming Shoppes, Inc. is a program specifically designed for employees of Charming Shoppes, Inc., a fashion retailer that operates several retail brands. The ESPN provides eligible employees with an opportunity to purchase company stock at a discounted price, offering a unique way for employees to invest in their company. By participating in the Nassau New York ESPN, employees can set aside a portion of their earnings to purchase Charming Shoppes, Inc. stock, typically at a lower price than what is available to the public. This not only allows employees to build ownership in the company but also potentially benefit from any future growth in the stock value. The ESPN is usually offered in multiple purchase periods within a given year. Employees can enroll during specific enrollment periods and contribute a percentage of their salary, typically up to a certain limit, towards purchasing Charming Shoppes, Inc. stock. The specific terms and conditions may vary, so it is crucial for employees to thoroughly read the plan documents and consult with a financial advisor if needed. Participating in the Nassau New York ESPN can provide employees with advantages such as potential tax savings, as contributions are often deducted from pre-tax income, reducing taxable income. Moreover, the discounted stock price allows employees to acquire company shares at a potentially lower cost compared to the stock's market value. It is important to note that the specifics of the Nassau New York ESPN can vary from company to company, and there might be different types of employee stock purchase plans within Charming Shoppes, Inc. For example, there could be plans with varying discount rates, different offering periods, and distinct eligibility criteria. Employees should carefully review the plan details provided by the company to understand the options available to them. Participating in an ESPN can be a valuable way for employees to supplement their compensation package, align their financial interests with those of the company, and potentially benefit from any future growth in the stock value of Charming Shoppes, Inc. The Nassau New York ESPN of Charming Shoppes, Inc. aims to empower employees by offering them an exclusive opportunity to become shareholders in the company they work for and potentially share in its success.

The Nassau New York Employee Stock Purchase Plan (ESPN) of Charming Shoppes, Inc. is a program specifically designed for employees of Charming Shoppes, Inc., a fashion retailer that operates several retail brands. The ESPN provides eligible employees with an opportunity to purchase company stock at a discounted price, offering a unique way for employees to invest in their company. By participating in the Nassau New York ESPN, employees can set aside a portion of their earnings to purchase Charming Shoppes, Inc. stock, typically at a lower price than what is available to the public. This not only allows employees to build ownership in the company but also potentially benefit from any future growth in the stock value. The ESPN is usually offered in multiple purchase periods within a given year. Employees can enroll during specific enrollment periods and contribute a percentage of their salary, typically up to a certain limit, towards purchasing Charming Shoppes, Inc. stock. The specific terms and conditions may vary, so it is crucial for employees to thoroughly read the plan documents and consult with a financial advisor if needed. Participating in the Nassau New York ESPN can provide employees with advantages such as potential tax savings, as contributions are often deducted from pre-tax income, reducing taxable income. Moreover, the discounted stock price allows employees to acquire company shares at a potentially lower cost compared to the stock's market value. It is important to note that the specifics of the Nassau New York ESPN can vary from company to company, and there might be different types of employee stock purchase plans within Charming Shoppes, Inc. For example, there could be plans with varying discount rates, different offering periods, and distinct eligibility criteria. Employees should carefully review the plan details provided by the company to understand the options available to them. Participating in an ESPN can be a valuable way for employees to supplement their compensation package, align their financial interests with those of the company, and potentially benefit from any future growth in the stock value of Charming Shoppes, Inc. The Nassau New York ESPN of Charming Shoppes, Inc. aims to empower employees by offering them an exclusive opportunity to become shareholders in the company they work for and potentially share in its success.