Pima Arizona Amended and Restated Employee Stock Purchase Plan

• Category: Corporations - Public - Employees
• State: Multi-State
• County: Pima
• Control #: US-CC-19-179
• Format: Word; Rich Text

Description

19-179 19-179 . . . Employee Stock Purchase Plan under which each employee of corporation and its wholly-owned direct or indirect, domestic and foreign subsidiaries that have authorized participation in Plan (Participating Company) can contribute up to 15% of earnings through payroll deductions and Participating Company contributes a cash amount equal to 5% of participant's payroll deductions for first year of participation, additional 7% for second year, additional 10% for third year, additional 13% for fourth year and additional 15% for fifth year. Custodian of plan purchases shares of common stock on open market or from corporation at current market prices, using payroll deductions and applicable matching Company contributions The Lima Arizona Amended and Restated Employee Stock Purchase Plan (ESPN) is a benefit program offered by Lima, a company based in Arizona, that allows eligible employees to purchase company stock at a discounted price. This plan is designed to encourage employee ownership and provide a long-term incentive for employees. Under the Lima Arizona Amended and Restated ESPN, employees are able to contribute a portion of their compensation to purchase company shares. The contributions are made through payroll deductions over a specific offering period, which is usually six months. At the end of the offering period, the accumulated funds are used to purchase the company's stock at a discount, often at a set percentage below the fair market value. The Lima Arizona Amended and Restated ESPN is beneficial for employees as it allows them to acquire company stock at a discounted price, effectively generating potential savings and investment opportunities. Additionally, it aligns the employee's financial interests with the company's success, as the stock value may increase over time. There may be different types or variations of the Lima Arizona Amended and Restated ESPN, depending on the company's specific provisions and any modifications made over time. Some possible variations could include different discount rates, offering periods, or eligibility requirements. Employees should review the plan documents and seek guidance from their employer or HR department to fully understand the details and options available under the ESPN. In conclusion, the Lima Arizona Amended and Restated Employee Stock Purchase Plan provides eligible employees with an opportunity to purchase company stock at a discounted price. It serves as a long-term incentive and encourages employee ownership while potentially generating savings and investment opportunities. Understanding the various types and provisions of the ESPN is crucial for maximizing its benefits.

The Lima Arizona Amended and Restated Employee Stock Purchase Plan (ESPN) is a benefit program offered by Lima, a company based in Arizona, that allows eligible employees to purchase company stock at a discounted price. This plan is designed to encourage employee ownership and provide a long-term incentive for employees. Under the Lima Arizona Amended and Restated ESPN, employees are able to contribute a portion of their compensation to purchase company shares. The contributions are made through payroll deductions over a specific offering period, which is usually six months. At the end of the offering period, the accumulated funds are used to purchase the company's stock at a discount, often at a set percentage below the fair market value. The Lima Arizona Amended and Restated ESPN is beneficial for employees as it allows them to acquire company stock at a discounted price, effectively generating potential savings and investment opportunities. Additionally, it aligns the employee's financial interests with the company's success, as the stock value may increase over time. There may be different types or variations of the Lima Arizona Amended and Restated ESPN, depending on the company's specific provisions and any modifications made over time. Some possible variations could include different discount rates, offering periods, or eligibility requirements. Employees should review the plan documents and seek guidance from their employer or HR department to fully understand the details and options available under the ESPN. In conclusion, the Lima Arizona Amended and Restated Employee Stock Purchase Plan provides eligible employees with an opportunity to purchase company stock at a discounted price. It serves as a long-term incentive and encourages employee ownership while potentially generating savings and investment opportunities. Understanding the various types and provisions of the ESPN is crucial for maximizing its benefits.