|
|
|
|
|
|
|
| Qualified Stock Purchase Plan (423(b))
|
This employee stock purchase plan allows companies to utilize treasury shares (or any shares that are authorized but unissued). These shares may be allocated to employees at a price that is discounted up to 15% of the fair market value on a specified date. A discount Stock Purchase Plan requires a Form S-8 Registration Statement and shareholder approval.
|
|
|
|
| Contributory Plan Service
|
In this type of plan, the company makes an additional contribution toward employee stock purchases based on criteria it establishes (e.g., length of service). A contributory Stock Purchase Plan requires a Form S-8 Registration Statement and shareholder approval. |
|
|
|
| Non-Contributory Plan Service
|
Within this type of plan, full and fractional shares of the company's common stock are purchased in the open market, utilizing the employee's preauthorized payroll deduction amount. A noncontributory Stock Purchase Plan typically does not require filing of a Form S-8 Registration Statement nor shareholder approval. |
|
|
|
