New Mexico 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 Mexico Stock Option Plan of WSFS Financial Corporation is a comprehensive equity compensation plan aimed at attracting and retaining talented employees within the company. This plan is designed to provide employees with the opportunity to purchase a specific number of shares of the company's stock at a predetermined price within a specified timeframe. The New Mexico Stock Option Plan is part of the broader equity incentive program offered by WSFS Financial Corporation, a leading financial services company based in New Mexico. This plan offers several types of stock options, each with its own unique features and benefits. 1. Non-Qualified Stock Options: These stock options provide employees with the flexibility to purchase company shares at a discounted price, typically lower than the current market value. These options are subject to standard income tax and are not eligible for preferential tax treatment. 2. Incentive Stock Options: These stock options are typically granted to key employees as a motivational tool. They offer certain tax advantages, as any potential gains are taxed as long-term capital gains instead of ordinary income. To qualify for these options, employees must meet specific eligibility criteria set by the plan. 3. Restricted Stock Units (RSS): The RSU program is an alternative to stock options. Employees are granted a specific number of RSS, which represent a promise to receive company stock at a future date, subject to certain vesting requirements. RSS are not immediately exercisable and provide employees with a sense of ownership in the company's success. 4. Performance Stock Units (Plus): These stock units reward employees based on the attainment of pre-established performance goals. Plus are subject to a performance period and vesting schedule. If the performance goals are met, employees are granted shares of the company's stock. The New Mexico Stock Option Plan is designed to align employee interests with those of the company's shareholders, promoting long-term growth and stability. By offering employees the opportunity to become shareholders, the plan fosters a sense of ownership and encourages them to contribute to the company's success. It's important to note that specific details and terms of the New Mexico Stock Option Plan may vary depending on individual circumstances and the company's policies. Employees are advised to consult the plan's official documentation and seek financial advice before participating in the program.

The New Mexico Stock Option Plan of WSFS Financial Corporation is a comprehensive equity compensation plan aimed at attracting and retaining talented employees within the company. This plan is designed to provide employees with the opportunity to purchase a specific number of shares of the company's stock at a predetermined price within a specified timeframe. The New Mexico Stock Option Plan is part of the broader equity incentive program offered by WSFS Financial Corporation, a leading financial services company based in New Mexico. This plan offers several types of stock options, each with its own unique features and benefits. 1. Non-Qualified Stock Options: These stock options provide employees with the flexibility to purchase company shares at a discounted price, typically lower than the current market value. These options are subject to standard income tax and are not eligible for preferential tax treatment. 2. Incentive Stock Options: These stock options are typically granted to key employees as a motivational tool. They offer certain tax advantages, as any potential gains are taxed as long-term capital gains instead of ordinary income. To qualify for these options, employees must meet specific eligibility criteria set by the plan. 3. Restricted Stock Units (RSS): The RSU program is an alternative to stock options. Employees are granted a specific number of RSS, which represent a promise to receive company stock at a future date, subject to certain vesting requirements. RSS are not immediately exercisable and provide employees with a sense of ownership in the company's success. 4. Performance Stock Units (Plus): These stock units reward employees based on the attainment of pre-established performance goals. Plus are subject to a performance period and vesting schedule. If the performance goals are met, employees are granted shares of the company's stock. The New Mexico Stock Option Plan is designed to align employee interests with those of the company's shareholders, promoting long-term growth and stability. By offering employees the opportunity to become shareholders, the plan fosters a sense of ownership and encourages them to contribute to the company's success. It's important to note that specific details and terms of the New Mexico Stock Option Plan may vary depending on individual circumstances and the company's policies. Employees are advised to consult the plan's official documentation and seek financial advice before participating in the program.