San Diego California Employee Stock Purchase Plan of Charming Shoppes, Inc.

• Category: Corporations - Public - Employees
• State: Multi-State
• County: San Diego
• 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 San Diego California Employee Stock Purchase Plan of Charming Shoppes, Inc. is a financial program designed to provide employees of the company with an opportunity to purchase company stock at a discounted price. This benefit plan aims to promote employee engagement and incentivize long-term commitment to the organization. Under this stock purchase plan, eligible employees working in San Diego, California has the option to contribute a portion of their salary towards the purchase of company stock. The plan typically offers a discounted share price, allowing employees to acquire shares at a lower cost compared to the current market value. This arrangement offers a unique chance for employees to become shareholders and directly benefit from the company's success. By participating in the San Diego California Employee Stock Purchase Plan, employees can potentially build wealth as the stock price appreciates over time. This long-term investment opportunity aligns the employees' interests with that of the company, fostering a sense of ownership and loyalty. It is important to note that the specific details and terms of the San Diego California Employee Stock Purchase Plan may vary based on the individual's job level, length of employment, and other factors. Different types of plans may exist, such as: 1. Standard Employee Stock Purchase Plan: This plan is offered to all eligible employees, allowing them to contribute a percentage of their salary towards purchasing company stock. 2. Restricted Stock Units (RSS): In addition to the Employee Stock Purchase Plan, some employees may be awarded RSS as part of their compensation package. RSS grant employees the right to receive company stock after a specific vesting period, usually tied to the individual's performance or tenure. 3. Executive Stock Options: Reserved for high-ranking executives, this plan provides executives with the opportunity to purchase company stock at a predetermined price. Executives can exercise these options at a later date, potentially realizing significant gains if the stock price appreciates. The San Diego California Employee Stock Purchase Plan of Charming Shoppes, Inc. rewards the dedication and commitment of its employees by offering an additional means of financial growth. This program serves as a powerful motivator, encouraging employees to contribute to the overall success of the organization while providing an opportunity to share in its prosperity.

The San Diego California Employee Stock Purchase Plan of Charming Shoppes, Inc. is a financial program designed to provide employees of the company with an opportunity to purchase company stock at a discounted price. This benefit plan aims to promote employee engagement and incentivize long-term commitment to the organization. Under this stock purchase plan, eligible employees working in San Diego, California has the option to contribute a portion of their salary towards the purchase of company stock. The plan typically offers a discounted share price, allowing employees to acquire shares at a lower cost compared to the current market value. This arrangement offers a unique chance for employees to become shareholders and directly benefit from the company's success. By participating in the San Diego California Employee Stock Purchase Plan, employees can potentially build wealth as the stock price appreciates over time. This long-term investment opportunity aligns the employees' interests with that of the company, fostering a sense of ownership and loyalty. It is important to note that the specific details and terms of the San Diego California Employee Stock Purchase Plan may vary based on the individual's job level, length of employment, and other factors. Different types of plans may exist, such as: 1. Standard Employee Stock Purchase Plan: This plan is offered to all eligible employees, allowing them to contribute a percentage of their salary towards purchasing company stock. 2. Restricted Stock Units (RSS): In addition to the Employee Stock Purchase Plan, some employees may be awarded RSS as part of their compensation package. RSS grant employees the right to receive company stock after a specific vesting period, usually tied to the individual's performance or tenure. 3. Executive Stock Options: Reserved for high-ranking executives, this plan provides executives with the opportunity to purchase company stock at a predetermined price. Executives can exercise these options at a later date, potentially realizing significant gains if the stock price appreciates. The San Diego California Employee Stock Purchase Plan of Charming Shoppes, Inc. rewards the dedication and commitment of its employees by offering an additional means of financial growth. This program serves as a powerful motivator, encouraging employees to contribute to the overall success of the organization while providing an opportunity to share in its prosperity.