Oakland Michigan Employee Stock Purchase Plan of Charming Shoppes, Inc.

• Category: Corporations - Public - Employees
• State: Multi-State
• County: Oakland
• 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 Oakland Michigan Employee Stock Purchase Plan (ESPN) is a unique benefit offered by Charming Shoppes, Inc., a prominent retail company. This program allows eligible employees based in Oakland, Michigan, to purchase company stock at a discounted price through regular payroll deductions. With the Oakland Michigan ESPN, employees have the opportunity to become shareholders of Charming Shoppes, Inc. and benefit from potential stock price appreciation. The plan provides employees with a convenient way to save money while simultaneously investing in the company they work for. By participating in the Oakland Michigan ESPN, employees can allocate a percentage of their salary towards purchasing Charming Shoppes, Inc. stock at a discounted price. The discount offered typically ranges from 5% to 15%, allowing employees to acquire shares at a lower cost than the prevailing market price. To further enhance the appeal of the ESPN, Charming Shoppes, Inc. may offer additional benefits like tax advantages. These advantages can include tax-deferred contributions, potential capital gains treatment, and savings on brokerage fees. These benefits add to the overall attractiveness of the ESPN as an investment opportunity for Oakland, Michigan-based employees. It's worth mentioning that while details may vary, there are typically no minimum or maximum contribution requirements for employees to participate in the Oakland Michigan ESPN. However, there may be limitations on the number of shares an employee can acquire or hold through the plan. The Oakland Michigan ESPN of Charming Shoppes, Inc. may offer different types of plans, including a qualified ESPN and a non-qualified ESPN. The qualified ESPN meets specific criteria outlined by the Internal Revenue Service (IRS) and offers certain tax advantages for participating employees. In conclusion, the Oakland Michigan Employee Stock Purchase Plan of Charming Shoppes, Inc. presents an enticing opportunity for employees to invest in company stock at a discounted price, potentially benefiting from stock price appreciation and advantageous tax treatments. By participating in this program, eligible employees can become shareholders and further align their financial interests with the success of the company.

The Oakland Michigan Employee Stock Purchase Plan (ESPN) is a unique benefit offered by Charming Shoppes, Inc., a prominent retail company. This program allows eligible employees based in Oakland, Michigan, to purchase company stock at a discounted price through regular payroll deductions. With the Oakland Michigan ESPN, employees have the opportunity to become shareholders of Charming Shoppes, Inc. and benefit from potential stock price appreciation. The plan provides employees with a convenient way to save money while simultaneously investing in the company they work for. By participating in the Oakland Michigan ESPN, employees can allocate a percentage of their salary towards purchasing Charming Shoppes, Inc. stock at a discounted price. The discount offered typically ranges from 5% to 15%, allowing employees to acquire shares at a lower cost than the prevailing market price. To further enhance the appeal of the ESPN, Charming Shoppes, Inc. may offer additional benefits like tax advantages. These advantages can include tax-deferred contributions, potential capital gains treatment, and savings on brokerage fees. These benefits add to the overall attractiveness of the ESPN as an investment opportunity for Oakland, Michigan-based employees. It's worth mentioning that while details may vary, there are typically no minimum or maximum contribution requirements for employees to participate in the Oakland Michigan ESPN. However, there may be limitations on the number of shares an employee can acquire or hold through the plan. The Oakland Michigan ESPN of Charming Shoppes, Inc. may offer different types of plans, including a qualified ESPN and a non-qualified ESPN. The qualified ESPN meets specific criteria outlined by the Internal Revenue Service (IRS) and offers certain tax advantages for participating employees. In conclusion, the Oakland Michigan Employee Stock Purchase Plan of Charming Shoppes, Inc. presents an enticing opportunity for employees to invest in company stock at a discounted price, potentially benefiting from stock price appreciation and advantageous tax treatments. By participating in this program, eligible employees can become shareholders and further align their financial interests with the success of the company.