California Adoption of Stock Option Plan of WSFS Financial Corporation

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-351I-NE
• Format: Word; Rich Text

Description

This is a multi-state form covering the subject matter of the title. 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 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.