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P
Purchase Period
An interim period within an ESPP offering period, generally when the offering period is longer than six months (e.g., 12 months or 24 months). With a lookback provision, the purchase price at the end of a purchase period is usually based on the fair market value on the first day of the offering (or on the date you enrolled, if later) or on the last day of the particular purchase period (whichever is lower). See the FAQs in ESPPs: Advanced for details.
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