Palm Beach Florida Employee Stock Purchase Plan of Charming Shoppes, Inc.

• Category: Corporations - Public - Employees
• State: Multi-State
• County: Palm Beach
• 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 Palm Beach Florida Employee Stock Purchase Plan of Charming Shoppes, Inc. is an attractive financial benefit available to employees of the fashion retail company. This stock purchase plan allows employees to purchase Charming Shoppes' stock at a discounted rate, typically through payroll deductions, thereby offering a means to invest in the company they work for. By participating in the Palm Beach Florida Employee Stock Purchase Plan, employees have the opportunity to become shareholders of Charming Shoppes, Inc., a subsidiary of Ascent Retail Group, Inc. This entitles them to potential rewards as the company grows and prospers, potentially leading to long-term financial benefits. The plan offers employees flexibility, as they have the option to contribute a certain percentage or fixed amount of their salary to purchase company stock. This contribution happens automatically through convenient payroll deductions, making it effortless and convenient for employees to invest in Charming Shoppes, Inc. Through the Palm Beach Florida Employee Stock Purchase Plan, employees can acquire shares at a discounted rate, which is usually lower than the prevailing market price. This discount serves as an incentive for employees to participate and align their interests with the success of the company. The discounted stock price enhances the potential for capital appreciation and can be an effective way to build long-term wealth. It is worth noting that while this description focuses on the Palm Beach Florida Employee Stock Purchase Plan, Charming Shoppes, Inc. may offer variations of the plan tailored for employees in different regions or subsidiaries. These might include plans specific to other locations within Florida or even plans outside the Palm Beach region. In conclusion, the Palm Beach Florida Employee Stock Purchase Plan of Charming Shoppes, Inc. is a valuable employee benefit that allows individuals to invest in the company they work for at a discounted rate. By participating in this plan, employees have the potential to become shareholders and reap the financial rewards of Charming Shoppes' success.

Palm Beach Florida Employee Stock Purchase Plan of Charming Shoppes, Inc. is an attractive financial benefit available to employees of the fashion retail company. This stock purchase plan allows employees to purchase Charming Shoppes' stock at a discounted rate, typically through payroll deductions, thereby offering a means to invest in the company they work for. By participating in the Palm Beach Florida Employee Stock Purchase Plan, employees have the opportunity to become shareholders of Charming Shoppes, Inc., a subsidiary of Ascent Retail Group, Inc. This entitles them to potential rewards as the company grows and prospers, potentially leading to long-term financial benefits. The plan offers employees flexibility, as they have the option to contribute a certain percentage or fixed amount of their salary to purchase company stock. This contribution happens automatically through convenient payroll deductions, making it effortless and convenient for employees to invest in Charming Shoppes, Inc. Through the Palm Beach Florida Employee Stock Purchase Plan, employees can acquire shares at a discounted rate, which is usually lower than the prevailing market price. This discount serves as an incentive for employees to participate and align their interests with the success of the company. The discounted stock price enhances the potential for capital appreciation and can be an effective way to build long-term wealth. It is worth noting that while this description focuses on the Palm Beach Florida Employee Stock Purchase Plan, Charming Shoppes, Inc. may offer variations of the plan tailored for employees in different regions or subsidiaries. These might include plans specific to other locations within Florida or even plans outside the Palm Beach region. In conclusion, the Palm Beach Florida Employee Stock Purchase Plan of Charming Shoppes, Inc. is a valuable employee benefit that allows individuals to invest in the company they work for at a discounted rate. By participating in this plan, employees have the potential to become shareholders and reap the financial rewards of Charming Shoppes' success.