California Adoption of Stock Option Plan of WSFS Financial Corporation The California Adoption of Stock Option Plan of WSFS Financial Corporation is a comprehensive program designed to attract and retain top talent by offering stock options as a form of compensation. This plan is specifically tailored for WSFS Financial Corporation, a leading financial services company based in California. Key Features of California Adoption of Stock Option Plan: 1. Objective: The primary goal of the plan is to incentivize employees, directors, and consultants by aligning their interests with the long-term success of WSFS Financial Corporation. 2. Eligibility: The plan is open to all eligible employees, directors, and consultants who meet the specified criteria. 3. Types of Stock Options: The California Adoption of Stock Option Plan offers two different types of stock options: a. Incentive Stock Options (SOS): SOS are granted to employees with tax advantages. They provide the ability to purchase company stocks at a predetermined exercise price, usually below the fair market value. b. Non-Qualified Stock Options (Nests): Nests are available for employees, directors, and consultants. They offer more flexibility in terms of exercise price and grant terms, but are subject to ordinary income tax upon exercise. 4. Vesting Schedule: The plan establishes a vesting schedule determining when stock options become exercisable. This encourages employees to remain with the company over the long term. 5. Exercise Period: Once vested, stock options can be exercised within a specified time frame, typically ranging from a few years to a maximum of 10 years. This allows participants to benefit from any potential increase in the company's stock value. 6. Administrative Guidelines: The California Adoption of Stock Option Plan includes administrative guidelines to ensure compliance with regulatory requirements, SEC regulations, and accounting standards. These guidelines outline the procedures for granting, exercising, and transferring stock options. 7. Plan Amendments: The plan provides provisions for amendments to account for changes in tax laws or regulatory requirements, as well as modifications to better align with the company's evolving goals and strategies. By implementing the California Adoption of Stock Option Plan, WSFS Financial Corporation aims to foster employee loyalty, motivate exceptional performance, and strengthen its competitive position in the financial services industry. Through the use of stock options, employees have the opportunity to become shareholders, directly benefiting from the company's growth and success. Overall, the California Adoption of Stock Option Plan of WSFS Financial Corporation is a valuable tool that promotes employee engagement, incentivizes long-term commitment, and positions the company for sustained growth and prosperity.
California Adoption of Stock Option Plan of WSFS Financial Corporation
Description
How to fill out California Adoption Of Stock Option Plan Of WSFS Financial Corporation?
You may invest several hours on the web searching for the lawful papers template that meets the federal and state requirements you require. US Legal Forms provides a huge number of lawful varieties that are examined by professionals. It is possible to acquire or produce the California Adoption of Stock Option Plan of WSFS Financial Corporation from your assistance.
If you already have a US Legal Forms bank account, it is possible to log in and click the Obtain option. After that, it is possible to comprehensive, modify, produce, or sign the California Adoption of Stock Option Plan of WSFS Financial Corporation. Each and every lawful papers template you buy is your own forever. To obtain yet another copy for any obtained develop, proceed to the My Forms tab and click the related option.
If you work with the US Legal Forms web site the first time, stick to the easy instructions beneath:
- Initially, make sure that you have chosen the proper papers template for the state/city that you pick. See the develop outline to ensure you have chosen the proper develop. If accessible, utilize the Preview option to look throughout the papers template at the same time.
- In order to get yet another model from the develop, utilize the Lookup area to discover the template that meets your requirements and requirements.
- When you have discovered the template you desire, just click Acquire now to proceed.
- Pick the rates plan you desire, type your credentials, and register for an account on US Legal Forms.
- Comprehensive the financial transaction. You should use your charge card or PayPal bank account to pay for the lawful develop.
- Pick the formatting from the papers and acquire it to the product.
- Make adjustments to the papers if possible. You may comprehensive, modify and sign and produce California Adoption of Stock Option Plan of WSFS Financial Corporation.
Obtain and produce a huge number of papers templates making use of the US Legal Forms website, that offers the largest assortment of lawful varieties. Use skilled and condition-certain templates to deal with your organization or person demands.
Form popularity
FAQ
WSFS common stock is traded on the NASDAQ stock exchange under the symbol WSFS.
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).
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).
Substantial Sale of Assets Such transactions may require the approval of shareholders. More specifically, if the disposition of assets leaves the corporation incapable of continuing its business, or continuing the ordinary course of business, then it may require shareholder approval.
Once you have a plan in place, you can simply make amendments to increase the number of shares in the option pool on an as-needed basis. The initial plan and any expansions must be approved by your board of directors and then by shareholders.