Santa Clara California Employee Stock Purchase Plan of Charming Shoppes, Inc.

• Category: Corporations - Public - Employees
• State: Multi-State
• County: Santa Clara
• 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 Santa Clara California Employee Stock Purchase Plan (ESPN) is a benefit offered by Charming Shoppes, Inc. to its employees who work in Santa Clara, California. This plan provides employees with the opportunity to purchase company stock at a discounted price, usually through payroll deductions. The ESPN is designed to encourage employee ownership and participation in the company's growth and success. By investing in company stock, employees become shareholders, which can create a sense of loyalty, motivation, and increased dedication to the company's performance. There may be different types or variations of the Santa Clara California Employee Stock Purchase Plan offered by Charming Shoppes, Inc., based on various factors including employee tenure, job level, or other eligibility criteria. These variations can include: 1. Standard ESPN: This is the basic plan provided to all eligible employees, allowing them to contribute a portion of their salary toward purchasing company stock at a discounted price. The plan may specify certain enrollment periods throughout the year, during which employees can choose to participate and contribute. 2. Vesting Schedule: Some ESPN may have a vesting schedule, which means that employees need to remain with the company for a specific period before they can fully own the purchased stock. This encourages employee retention and long-term commitment. 3. Matching Contributions: In certain cases, Charming Shoppes, Inc. may offer a matching contribution to employees who participate in the ESPN. This means that for every dollar an employee contributes, the company matches it with an additional amount, thereby enhancing the employee's ability to acquire more company stock. 4. Limited Purchase Periods: Charming Shoppes, Inc. may limit the availability of the ESPN to specific periods, such as once or twice a year. During these limited purchase periods, employees can enroll in the plan and make their stock purchases. 5. Dividend Reinvestment: Some ESPN may offer the option to reinvest dividends received from the purchased stock back into additional company stock. This can lead to the compounding effect of stock ownership and potentially increase the employee's return on investment. It is important for employees to thoroughly review the terms and conditions of the Santa Clara California Employee Stock Purchase Plan before participating. Understanding the specific details, such as the discount percentage, maximum contribution limits, holding periods, and tax implications, is crucial for making informed investment decisions.

The Santa Clara California Employee Stock Purchase Plan (ESPN) is a benefit offered by Charming Shoppes, Inc. to its employees who work in Santa Clara, California. This plan provides employees with the opportunity to purchase company stock at a discounted price, usually through payroll deductions. The ESPN is designed to encourage employee ownership and participation in the company's growth and success. By investing in company stock, employees become shareholders, which can create a sense of loyalty, motivation, and increased dedication to the company's performance. There may be different types or variations of the Santa Clara California Employee Stock Purchase Plan offered by Charming Shoppes, Inc., based on various factors including employee tenure, job level, or other eligibility criteria. These variations can include: 1. Standard ESPN: This is the basic plan provided to all eligible employees, allowing them to contribute a portion of their salary toward purchasing company stock at a discounted price. The plan may specify certain enrollment periods throughout the year, during which employees can choose to participate and contribute. 2. Vesting Schedule: Some ESPN may have a vesting schedule, which means that employees need to remain with the company for a specific period before they can fully own the purchased stock. This encourages employee retention and long-term commitment. 3. Matching Contributions: In certain cases, Charming Shoppes, Inc. may offer a matching contribution to employees who participate in the ESPN. This means that for every dollar an employee contributes, the company matches it with an additional amount, thereby enhancing the employee's ability to acquire more company stock. 4. Limited Purchase Periods: Charming Shoppes, Inc. may limit the availability of the ESPN to specific periods, such as once or twice a year. During these limited purchase periods, employees can enroll in the plan and make their stock purchases. 5. Dividend Reinvestment: Some ESPN may offer the option to reinvest dividends received from the purchased stock back into additional company stock. This can lead to the compounding effect of stock ownership and potentially increase the employee's return on investment. It is important for employees to thoroughly review the terms and conditions of the Santa Clara California Employee Stock Purchase Plan before participating. Understanding the specific details, such as the discount percentage, maximum contribution limits, holding periods, and tax implications, is crucial for making informed investment decisions.