New Jersey Stock Option Plan of WSFS Financial Corporation

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-352B
• Format: Word; Rich Text

Description

18-352B 18-352B . . . Stock Option Plan under which committee appointed by Board of Directors can grant (a) Incentive Stock Options, (b) Non-qualified Stock Options, (c) Stand-alone or Tandem Stock Appreciation Rights, and (d) Phantom Stock (which entitles recipient to receive in cash when share vests, an amount equal to sum of (x) fair market value of a share of stock on date when such share of Phantom Stock vests and (y) aggregate amount of cash dividends paid with respect to a share of stock during period between date share of Phantom Stock was granted and date on which such share vests). Committee has broad discretion at time of making Phantom Stock awards to impose conditions that must be satisfied in order for Phantom Stock to become vested The New Jersey Stock Option Plan of WSFS Financial Corporation is a comprehensive and employee-focused compensation program designed to reward and incentivize employees of the company. This plan provides eligible employees with the opportunity to purchase company stock at a predetermined price, known as the exercise price, within a specified timeframe. By offering stock options, WSFS Financial Corporation aims to align the interests of its employees with those of the shareholders, fostering a sense of ownership and loyalty among its workforce. The New Jersey Stock Option Plan offers various types of stock options to accommodate the diverse needs of employees. One of the popular options is the Non-Qualified Stock Option (NO), which is available to employees at all levels. Nests provide employees with the flexibility to exercise their options at any time during the vesting period, allowing them to take advantage of potential gains in the company's stock value. Another type of stock option offered is the Incentive Stock Option (ISO), which is typically reserved for top executives and highly valuable employees. SOS offer preferential tax treatment, as gains from exercising SOS are generally taxed at a lower rate compared to other types of stock options. The New Jersey Stock Option Plan of WSFS Financial Corporation is structured in a way that encourages long-term commitment and loyalty from employees. The options typically have a vesting period during which employees must wait before they can exercise their options. This incentivizes employees to stay with the company for the long haul, as they can only fully benefit from their stock options after a predetermined period of service. Participation in the New Jersey Stock Option Plan is subject to eligibility requirements and certain conditions. Employees must meet specified criteria set by WSFS Financial Corporation to qualify for the program. Additionally, the number of stock options granted to each employee depends on several factors, including their job level, performance, and overall contribution to the company's success. Overall, the New Jersey Stock Option Plan of WSFS Financial Corporation demonstrates the company's commitment to recognizing the value and importance of its employees. Through this comprehensive compensation program, WSFS Financial Corporation aims to attract and retain top talent while fostering a sense of shared ownership and long-term dedication among its workforce.

The New Jersey Stock Option Plan of WSFS Financial Corporation is a comprehensive and employee-focused compensation program designed to reward and incentivize employees of the company. This plan provides eligible employees with the opportunity to purchase company stock at a predetermined price, known as the exercise price, within a specified timeframe. By offering stock options, WSFS Financial Corporation aims to align the interests of its employees with those of the shareholders, fostering a sense of ownership and loyalty among its workforce. The New Jersey Stock Option Plan offers various types of stock options to accommodate the diverse needs of employees. One of the popular options is the Non-Qualified Stock Option (NO), which is available to employees at all levels. Nests provide employees with the flexibility to exercise their options at any time during the vesting period, allowing them to take advantage of potential gains in the company's stock value. Another type of stock option offered is the Incentive Stock Option (ISO), which is typically reserved for top executives and highly valuable employees. SOS offer preferential tax treatment, as gains from exercising SOS are generally taxed at a lower rate compared to other types of stock options. The New Jersey Stock Option Plan of WSFS Financial Corporation is structured in a way that encourages long-term commitment and loyalty from employees. The options typically have a vesting period during which employees must wait before they can exercise their options. This incentivizes employees to stay with the company for the long haul, as they can only fully benefit from their stock options after a predetermined period of service. Participation in the New Jersey Stock Option Plan is subject to eligibility requirements and certain conditions. Employees must meet specified criteria set by WSFS Financial Corporation to qualify for the program. Additionally, the number of stock options granted to each employee depends on several factors, including their job level, performance, and overall contribution to the company's success. Overall, the New Jersey Stock Option Plan of WSFS Financial Corporation demonstrates the company's commitment to recognizing the value and importance of its employees. Through this comprehensive compensation program, WSFS Financial Corporation aims to attract and retain top talent while fostering a sense of shared ownership and long-term dedication among its workforce.