The Hawaii Employee Stock Purchase Plan (ESPN) of Charming Shoppes, Inc. is an employee benefit program offered by the company specifically for its Hawaii-based employees. This plan provides eligible employees an opportunity to purchase company stock at a discounted price, typically through payroll deductions. Charming Shoppes, Inc. is a retail company that operates several well-known fashion brands, including Lane Bryant, Catherine's, and Fashion Bug. With a strong presence in Hawaii, Charming Shoppes recognizes the importance of engaging and motivating its employees through stock ownership. The Hawaii ESPN offers different options for employees to participate in the program. It may include a traditional ESPN, where employees can purchase company stock at a discounted price within a specified period. The discounted price is often determined based on the fair market value of the stock on the offering date or the purchase date, whichever is lower. Another potential variation of the Hawaii ESPN could be a "look back" provision. This feature allows employees to purchase stock at a discount based on the price at the beginning or the end of the offering period, whichever is lower. This provision enables employees to benefit from any significant stock price appreciation during the offering period. Participation in the Hawaii ESPN is typically voluntary and open to eligible employees of Charming Shoppes working in Hawaii. Employees usually need to meet specific eligibility criteria, such as length of service and minimum working hours, to participate in the program. Employees who choose to participate in the Hawaii ESPN authorize payroll deductions to be made from their salaries to accumulate funds for the purchase of company stock. The deductions are usually taken out on a regular basis, such as per-pay period or monthly, and accumulated until the purchase date. The purchased stock is held in the employee's name within the designated brokerage account, allowing employees to benefit from potential stock price appreciation. The ESPN may also provide employees with the option to sell their purchased stock after a specified holding period, providing an avenue for potential liquidity. Overall, the Hawaii Employee Stock Purchase Plan of Charming Shoppes, Inc. is a valuable employee benefit program that encourages stock ownership among its Hawaii-based employees. By participating in the plan, employees have the potential to grow their personal wealth through stock price appreciation, contributing to their financial well-being and alignment with the company's success.
Hawaii Employee Stock Purchase Plan of Charming Shoppes, Inc.
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FAQ
You will continue to own stock purchased for you during your employment, but your eligibility for participation in the plan ends. Any funds withheld from your salary but not used to purchase shares before the end of your employment will be returned to you, normally without interest, within a reasonable period.
Meanwhile, employees can accumulate a growing number of shares, an amount that can rise over time depending on their employment term. These shares are meant to be sold only at or after the time of retirement or termination, and the employee is remunerated by receiving the cash value of their shares.
Yes, you can sell stock purchased through your ESPP plan immediately if you want to guarantee that you profit from your discount. Otherwise, the value of the stock may go up, which increases your profit, or it may go down, causing you to lose money.
With qualified Section 423 employee stock purchase plans, you are not taxed at the time the shares are purchased, only when you sell. Depending on whether the shares were held for the required holding period, a portion of your gain may be taxed as capital gains or as ordinary income.
An employee stock purchase plan is an employer-sponsored incentive plan that allows employees to purchase company stock. Under such a plan, the employer offers its employees the option to purchase company stock at the end of an ?offering period,? which typically ranges between 3 months and 27 months.
How does a withdrawal work in an ESPP? With most employee stock purchase plans, you can withdraw from your plan at any time before the purchase. Withdrawals are made on Fidelity.com or through a representative. However, you should refer to your plan documents to determine your plan's rules governing withdrawals.
The bottom line on ESPPs If you can afford it, you should participate up to the full amount and then sell the shares as soon as you can. You might even consider prioritizing your ESPP over 401(k) contributions, depending on your specific financial situation, because your after-tax returns could be higher.
A: Yes. You may withdraw from the ESPP by notifying Fidelity and completing a withdrawal election. When you withdraw, all of the contributions accumulated in your account will be returned to you as soon as administratively possible and you will not be able to make any further contributions during that offering period.