Suffolk New York Employee Stock Purchase Plan of Charming Shoppes, Inc.

• Category: Corporations - Public - Employees
• State: Multi-State
• County: Suffolk
• 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 Suffolk New York Employee Stock Purchase Plan (ESPN) of Charming Shoppes, Inc. is a program offered to eligible employees of the company that allows them to purchase company stock at a discounted price. This plan aims to provide employees with an opportunity to become stakeholders in the company and share in its success. Under the Suffolk New York ESPN, employees are allowed to allocate a portion of their salary towards the purchase of company stock. The plan typically offers a discounted price, which can be an attractive incentive for employees to participate. There are several types of Suffolk New York Employee Stock Purchase Plans that may be offered by Charming Shoppes, Inc. These can include: 1. Standard Employee Stock Purchase Plan: This is the primary plan offered to eligible employees, where they can regularly contribute a portion of their salary to purchase company stock at a reduced price. 2. Matching Employee Stock Purchase Plan: This type of plan may offer a matching contribution from the company. For example, if an employee contributes a certain percentage of their salary towards purchasing company stock, the company may match that contribution up to a predetermined limit. 3. Performance-Based Employee Stock Purchase Plan: In this plan, the employee's ability to purchase company stock at a discount is tied to the company's performance. This can incentivize employees to actively contribute towards the company's growth and success. It is important for employees to thoroughly review the terms and conditions of the Suffolk New York Employee Stock Purchase Plan to understand the specific details of each plan type, including eligibility requirements, contribution limits, and any vesting periods that may apply. Participating in the Suffolk New York Employee Stock Purchase Plan can be a valuable way for employees to invest in the company they work for and potentially benefit from its long-term growth. By engaging in this program, employees can align their financial goals with the success of Charming Shoppes, Inc. while potentially enjoying the discounted purchase of its stock.

The Suffolk New York Employee Stock Purchase Plan (ESPN) of Charming Shoppes, Inc. is a program offered to eligible employees of the company that allows them to purchase company stock at a discounted price. This plan aims to provide employees with an opportunity to become stakeholders in the company and share in its success. Under the Suffolk New York ESPN, employees are allowed to allocate a portion of their salary towards the purchase of company stock. The plan typically offers a discounted price, which can be an attractive incentive for employees to participate. There are several types of Suffolk New York Employee Stock Purchase Plans that may be offered by Charming Shoppes, Inc. These can include: 1. Standard Employee Stock Purchase Plan: This is the primary plan offered to eligible employees, where they can regularly contribute a portion of their salary to purchase company stock at a reduced price. 2. Matching Employee Stock Purchase Plan: This type of plan may offer a matching contribution from the company. For example, if an employee contributes a certain percentage of their salary towards purchasing company stock, the company may match that contribution up to a predetermined limit. 3. Performance-Based Employee Stock Purchase Plan: In this plan, the employee's ability to purchase company stock at a discount is tied to the company's performance. This can incentivize employees to actively contribute towards the company's growth and success. It is important for employees to thoroughly review the terms and conditions of the Suffolk New York Employee Stock Purchase Plan to understand the specific details of each plan type, including eligibility requirements, contribution limits, and any vesting periods that may apply. Participating in the Suffolk New York Employee Stock Purchase Plan can be a valuable way for employees to invest in the company they work for and potentially benefit from its long-term growth. By engaging in this program, employees can align their financial goals with the success of Charming Shoppes, Inc. while potentially enjoying the discounted purchase of its stock.