Travis Texas Employee Stock Purchase Plan of Charming Shoppes, Inc.

• Category: Corporations - Public - Employees
• State: Multi-State
• County: Travis
• 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 Travis Texas Employee Stock Purchase Plan (ESPN) is a unique opportunity offered by Charming Shoppes, Inc. to its employees located in Travis, Texas. The ESPN enables employees to purchase company stock at a discounted price, typically through payroll deductions. This plan not only provides a financial benefit to employees but also serves as a means of investment in the company's growth and success. The Travis Texas ESPN offers employees a chance to become shareholders of Charming Shoppes, Inc., a renowned retail company specializing in women's apparel and accessories. By becoming shareholders, employees gain a sense of ownership in the company, aligning their interests with the overall success of Charming Shoppes. Employees participating in the Travis Texas ESPN are eligible to purchase company stock at a discounted price, often at a percentage lower than the market value. This discount can vary from plan to plan but is generally an attractive incentive that encourages employees to participate. Employees can choose to contribute a specific percentage of their salary to the ESPN, which is deducted from their payroll. The Travis Texas ESPN may have various types or stages depending on the specific plan offered by Charming Shoppes, Inc. Some common types include a "Purchase Period," during which employees can make their stock purchases, and a "Look back Provision," which allows employees to purchase stock at the lowest of either the market price at the beginning or end of the purchase period. There may also be specific vesting periods, where employees need to hold onto the purchased stock for a certain period of time before they can sell or transfer it. Participating in the Travis Texas ESPN can be a valuable opportunity for Charming Shoppes, Inc. employees to accumulate shares in the company and potentially benefit from its growth and success over time. It provides employees with a tangible stake in the company's fortunes and reinforces a sense of loyalty and commitment to its long-term goals. In conclusion, the Travis Texas Employee Stock Purchase Plan of Charming Shoppes, Inc. allows eligible employees in Travis, Texas to purchase company stock at a discounted price through payroll deductions. This plan offers various types or stages, such as Purchase Periods and Look back Provisions, and can greatly benefit employees by providing an opportunity for investment and ownership in the company.

Travis Texas Employee Stock Purchase Plan (ESPN) is a unique opportunity offered by Charming Shoppes, Inc. to its employees located in Travis, Texas. The ESPN enables employees to purchase company stock at a discounted price, typically through payroll deductions. This plan not only provides a financial benefit to employees but also serves as a means of investment in the company's growth and success. The Travis Texas ESPN offers employees a chance to become shareholders of Charming Shoppes, Inc., a renowned retail company specializing in women's apparel and accessories. By becoming shareholders, employees gain a sense of ownership in the company, aligning their interests with the overall success of Charming Shoppes. Employees participating in the Travis Texas ESPN are eligible to purchase company stock at a discounted price, often at a percentage lower than the market value. This discount can vary from plan to plan but is generally an attractive incentive that encourages employees to participate. Employees can choose to contribute a specific percentage of their salary to the ESPN, which is deducted from their payroll. The Travis Texas ESPN may have various types or stages depending on the specific plan offered by Charming Shoppes, Inc. Some common types include a "Purchase Period," during which employees can make their stock purchases, and a "Look back Provision," which allows employees to purchase stock at the lowest of either the market price at the beginning or end of the purchase period. There may also be specific vesting periods, where employees need to hold onto the purchased stock for a certain period of time before they can sell or transfer it. Participating in the Travis Texas ESPN can be a valuable opportunity for Charming Shoppes, Inc. employees to accumulate shares in the company and potentially benefit from its growth and success over time. It provides employees with a tangible stake in the company's fortunes and reinforces a sense of loyalty and commitment to its long-term goals. In conclusion, the Travis Texas Employee Stock Purchase Plan of Charming Shoppes, Inc. allows eligible employees in Travis, Texas to purchase company stock at a discounted price through payroll deductions. This plan offers various types or stages, such as Purchase Periods and Look back Provisions, and can greatly benefit employees by providing an opportunity for investment and ownership in the company.