Wayne Michigan Employee Stock Purchase Plan of Charming Shoppes, Inc.

• Category: Corporations - Public - Employees
• State: Multi-State
• County: Wayne
• 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 Wayne Michigan Employee Stock Purchase Plan (ESPN) of Charming Shoppes, Inc. is a program designed to provide employees with an opportunity to purchase company stock at a discounted price. Charming Shoppes, Inc. is a leading specialty retailer in the United States that focuses on women's plus-size apparel. The ESPN allows eligible employees in Wayne, Michigan to contribute a portion of their salary towards purchasing shares of Charming Shoppes, Inc. stock. By participating in this plan, employees can acquire ownership in the company, which can potentially lead to financial growth and rewards through rising stock prices. One of the primary benefits of the Wayne Michigan ESPN is the discount offered on the stock purchase. Employees are often allowed to buy shares at a discounted price, which can range anywhere from 5% to 15% off the current market value. This discount provides employees with immediate savings and can make the stock purchase more attractive. Another advantage of Charming Shoppes, Inc.'s ESPN is that it typically offers an accumulation period; this is the duration during which employees can contribute a certain percentage of their salary to the plan before purchasing the stock. This allows employees to accumulate funds gradually, making it easier to participate in the program. It's important to note that there may be different types of Employee Stock Purchase Plans within Charming Shoppes, Inc. Some possible variations include: 1. Standard ESPN: This is the most common type of ESPN, where employees contribute a predetermined percentage of their salary towards purchasing company stock at a discounted price. 2. Qualified ESPN: A qualified ESPN is compliant with specific requirements outlined by the Internal Revenue Service (IRS). This type of plan offers potential tax advantages for employees. 3. Non-Qualified ESPN: Non-qualified ESPN are not required to comply with the IRS regulations for qualified plans. These plans may have fewer restrictions but often do not provide as many tax benefits for employees. In conclusion, the Wayne Michigan Employee Stock Purchase Plan of Charming Shoppes, Inc. presents a valuable opportunity for eligible employees to buy company stock at a discounted price. By participating in the ESPN, employees can potentially benefit from financial growth and ownership in Charming Shoppes, Inc., while enjoying potential tax advantages for qualified plans.

The Wayne Michigan Employee Stock Purchase Plan (ESPN) of Charming Shoppes, Inc. is a program designed to provide employees with an opportunity to purchase company stock at a discounted price. Charming Shoppes, Inc. is a leading specialty retailer in the United States that focuses on women's plus-size apparel. The ESPN allows eligible employees in Wayne, Michigan to contribute a portion of their salary towards purchasing shares of Charming Shoppes, Inc. stock. By participating in this plan, employees can acquire ownership in the company, which can potentially lead to financial growth and rewards through rising stock prices. One of the primary benefits of the Wayne Michigan ESPN is the discount offered on the stock purchase. Employees are often allowed to buy shares at a discounted price, which can range anywhere from 5% to 15% off the current market value. This discount provides employees with immediate savings and can make the stock purchase more attractive. Another advantage of Charming Shoppes, Inc.'s ESPN is that it typically offers an accumulation period; this is the duration during which employees can contribute a certain percentage of their salary to the plan before purchasing the stock. This allows employees to accumulate funds gradually, making it easier to participate in the program. It's important to note that there may be different types of Employee Stock Purchase Plans within Charming Shoppes, Inc. Some possible variations include: 1. Standard ESPN: This is the most common type of ESPN, where employees contribute a predetermined percentage of their salary towards purchasing company stock at a discounted price. 2. Qualified ESPN: A qualified ESPN is compliant with specific requirements outlined by the Internal Revenue Service (IRS). This type of plan offers potential tax advantages for employees. 3. Non-Qualified ESPN: Non-qualified ESPN are not required to comply with the IRS regulations for qualified plans. These plans may have fewer restrictions but often do not provide as many tax benefits for employees. In conclusion, the Wayne Michigan Employee Stock Purchase Plan of Charming Shoppes, Inc. presents a valuable opportunity for eligible employees to buy company stock at a discounted price. By participating in the ESPN, employees can potentially benefit from financial growth and ownership in Charming Shoppes, Inc., while enjoying potential tax advantages for qualified plans.