The Arizona Adoption of Stock Option Plan of WSFS Financial Corporation is a comprehensive compensation program designed to attract, retain, and reward key employees of the corporation. This plan grants eligible participants the right to purchase shares of WSFS Financial Corporation's common stock at a predetermined price within a specified period, known as the option term. The option term typically spans several years and is subject to certain vesting conditions. Under the Arizona Adoption of Stock Option Plan, options may be granted to employees, officers, and directors of WSFS Financial Corporation, as well as consultants and advisors who provide valuable services to the corporation. The plan aims to align the interests of participants with those of the corporation's shareholders, creating a sense of ownership and motivation to drive the company's success. Benefits of the Arizona Adoption of Stock Option Plan include the potential for significant financial gain if the price of WSFS Financial Corporation's stock rises above the exercise price during the option term. This allows employees to share in the company’s growth and success. Furthermore, the plan's structure enables WSFS Financial Corporation to attract and retain talented individuals who may be drawn to the potential long-term financial rewards associated with the stock options. Different types of Arizona Adoption of Stock Option Plans within WSFS Financial Corporation may include incentive stock options (SOS) and non-qualified stock options (Nests). SOS offer potential tax advantages to employees, while Nests do not possess the same tax benefits but offer more flexibility in terms of eligibility and exercising options. The Arizona Adoption of Stock Option Plan of WSFS Financial Corporation sets forth the terms and conditions under which stock options are granted, including the number of shares, exercise price, vesting schedule, and the duration of the option term. This plan also specifies how stock options may be exercised and provides guidelines regarding its administration, modification, and termination. In summary, the Arizona Adoption of Stock Option Plan of WSFS Financial Corporation is a key component of the corporation's compensation strategy, encouraging employee retention and incentivizing performance through stock ownership. This comprehensive plan promotes a sense of ownership and alignment among key personnel, fostering a culture of long-term growth and success.
Arizona Adoption of Stock Option Plan of WSFS Financial Corporation
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WSFS Financial Corp: Competitors Wells Fargo & Co Headquarters. 233,834. $82.9B. The Charles Schwab Corp Headquarters. 36,600. $22.3B. M&T Bank Corp Headquarters. 22,210. $8.6B. Fulton Financial Corp Headquarters. 3,300. $1.1B.
WSFS celebrated its 35th year of being a publicly traded company with Chairman, President and CEO Rodger Levenson, joined by members of the executive leadership team, Associates and friends of WSFS, ringing The Nasdaq Stock Market Opening Bell.
WSFS common stock is traded on the NASDAQ stock exchange under the symbol WSFS.
WSFS Financial Corporation is a financial services company. Its primary subsidiary, WSFS Bank, a federal savings bank, is the largest and longest-standing locally managed bank and trust company headquartered in Delaware and the Greater Delaware Valley.
The option plan must be approved by the stockholders within 12 months before or after the plan is adopted (see also Explanation: §423, Shareholder Approval Requirement) (IRC § 422(b)(1); Reg. §1.422-3).