Pima Arizona Employee Stock Purchase Plan of Charming Shoppes, Inc.

• Category: Corporations - Public - Employees
• State: Multi-State
• County: Pima
• 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 Lima Arizona Employee Stock Purchase Plan (ESPN) is a unique employee benefit program offered by Charming Shoppes, Inc., a renowned retail company based in Lima, Arizona. This ESPN enables eligible employees to purchase company stock at a discounted price, providing them with a valuable opportunity to invest in the company's future and potentially grow their personal wealth. Through the Lima Arizona Employee Stock Purchase Plan, employees can choose to set aside a portion of their regular paycheck to buy shares of Charming Shoppes, Inc. stock. The plan typically offers a discounted price for these shares, often at a reduced cost compared to the current market value. This exclusive benefit not only encourages the employees' financial participation in the company's growth but also promotes a sense of ownership and loyalty among the workforce. The Lima Arizona Employee Stock Purchase Plan is designed to be flexible and accessible for eligible employees with different financial situations. It allows employees to contribute a specific percentage of their salary, typically up to a certain maximum limit, towards the purchase of company stock. These contributions are collected over a specified period, known as the offering period, which usually lasts for several months. Charming Shoppes, Inc. may offer different types of Lima Arizona Employee Stock Purchase Plans to cater to the diverse needs and preferences of its workforce. Some potential variations of the plan might include: 1. Standard ESPN: This basic type of plan enables employees to purchase company stock at a discounted price based on a predetermined formula, typically a percentage below the market value. 2. Look back ESPN: This type of plan offers employees the opportunity to purchase company stock at a discounted price based on the lowest of either the market price at the beginning or the end of the offering period. This allows participants to buy stock at a more advantageous price, maximizing their potential investment gains. 3. Qualified ESPN: In some cases, the Lima Arizona Employee Stock Purchase Plan may qualify for specific tax advantages, providing additional benefits to participating employees. A qualified ESPN often adheres to strict regulatory requirements and may offer unique tax treatment, potentially reducing the overall tax liabilities for employees. 4. Non-Qualified ESPN: Unlike a qualified plan, a non-qualified ESPN does not necessarily meet specific tax regulations. However, it still provides employees with the opportunity to purchase company stock at a discounted price, offering potential financial benefits. As with any employee benefit program, it is important for employees to carefully review the terms and guidelines of the Lima Arizona Employee Stock Purchase Plan provided by Charming Shoppes, Inc. Consulting with human resources or a financial advisor can help employees make informed decisions about participating in the program, understanding the potential risks and rewards associated with investing in company stock.

The Lima Arizona Employee Stock Purchase Plan (ESPN) is a unique employee benefit program offered by Charming Shoppes, Inc., a renowned retail company based in Lima, Arizona. This ESPN enables eligible employees to purchase company stock at a discounted price, providing them with a valuable opportunity to invest in the company's future and potentially grow their personal wealth. Through the Lima Arizona Employee Stock Purchase Plan, employees can choose to set aside a portion of their regular paycheck to buy shares of Charming Shoppes, Inc. stock. The plan typically offers a discounted price for these shares, often at a reduced cost compared to the current market value. This exclusive benefit not only encourages the employees' financial participation in the company's growth but also promotes a sense of ownership and loyalty among the workforce. The Lima Arizona Employee Stock Purchase Plan is designed to be flexible and accessible for eligible employees with different financial situations. It allows employees to contribute a specific percentage of their salary, typically up to a certain maximum limit, towards the purchase of company stock. These contributions are collected over a specified period, known as the offering period, which usually lasts for several months. Charming Shoppes, Inc. may offer different types of Lima Arizona Employee Stock Purchase Plans to cater to the diverse needs and preferences of its workforce. Some potential variations of the plan might include: 1. Standard ESPN: This basic type of plan enables employees to purchase company stock at a discounted price based on a predetermined formula, typically a percentage below the market value. 2. Look back ESPN: This type of plan offers employees the opportunity to purchase company stock at a discounted price based on the lowest of either the market price at the beginning or the end of the offering period. This allows participants to buy stock at a more advantageous price, maximizing their potential investment gains. 3. Qualified ESPN: In some cases, the Lima Arizona Employee Stock Purchase Plan may qualify for specific tax advantages, providing additional benefits to participating employees. A qualified ESPN often adheres to strict regulatory requirements and may offer unique tax treatment, potentially reducing the overall tax liabilities for employees. 4. Non-Qualified ESPN: Unlike a qualified plan, a non-qualified ESPN does not necessarily meet specific tax regulations. However, it still provides employees with the opportunity to purchase company stock at a discounted price, offering potential financial benefits. As with any employee benefit program, it is important for employees to carefully review the terms and guidelines of the Lima Arizona Employee Stock Purchase Plan provided by Charming Shoppes, Inc. Consulting with human resources or a financial advisor can help employees make informed decisions about participating in the program, understanding the potential risks and rewards associated with investing in company stock.