Wake North Carolina Employee Stock Purchase Plan of Charming Shoppes, Inc.

• Category: Corporations - Public - Employees
• State: Multi-State
• County: Wake
• 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

Wake North Carolina Employee Stock Purchase Plan is a financial benefit offered by Charming Shoppes, Inc., a renowned retail company. This plan provides eligible employees in Wake North Carolina with the opportunity to purchase company stock at a discounted price, encouraging them to become shareholders in the company. The Wake North Carolina Employee Stock Purchase Plan enables employees to set aside a portion of their salary to buy Charming Shoppes, Inc. stock. By participating in this plan, employees have the chance to convert a percentage of their earnings into stock, allowing potential growth and the possibility to earn additional profits if the stock value appreciates over time. The plan is structured in a way that employees can accumulate shares gradually, often through payroll deductions. Employees decide on the amount they want to contribute, and typically, there is a discount offered on the stock purchase price, enhancing the appeal of participating in the program. This discount helps employees acquire more shares for their investment and maximize their potential returns. While there might not be different types of Wake North Carolina Employee Stock Purchase Plans specific to Charming Shoppes, Inc., the plan itself can have varying features depending on the company's policies. For instance, the percentage of salary that employees can contribute, the discount percentage offered, and the frequency of stock purchase periods may differ from one company to another, or even within different departments of the same company. Participating in the Wake North Carolina Employee Stock Purchase Plan can be a valuable financial opportunity for employees. It fosters a sense of ownership and aligns their interests with the company's success. By investing in company stock, employees also have the potential to benefit from any positive fluctuations in the stock market, creating an additional source of income. Overall, the Wake North Carolina Employee Stock Purchase Plan of Charming Shoppes, Inc. aims to offer employees in Wake North Carolina the chance to become shareholders and actively participate in the growth and success of the company.