California 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 California Stock Option Plan of WSFS Financial Corporation is a unique financial offering specifically designed for employees and stakeholders based in California. The plan aims to provide eligible participants with the opportunity to receive stock options as part of their compensation package. A stock option is a contractual agreement that grants the recipient the right to buy a specific number of shares of a company's stock at a predetermined price, also known as the exercise or strike price, for a defined period of time. It allows employees to benefit from the potential appreciation of the company's stock value over time. This incentive aligns the interests of the employees with those of the corporation, promoting long-term growth and success. WSFS Financial Corporation offers different types of California Stock Option Plans to address varying needs and objectives. These options may include: 1. Employee stock options: These are typically offered to employees and serve as a reward for their contributions and commitment to the company. Employees can exercise these options within a specified time frame and at a predetermined price. 2. Incentive stock options: This type of option is granted to key employees to provide additional motivation for their efforts, usually with specific performance goals. When exercised, they offer certain tax advantages, subject to meeting specific criteria outlined by the Internal Revenue Service (IRS). 3. Non-qualified stock options: These options do not qualify for the tax advantages available with incentive stock options. They are often offered to a broader range of employees and can be more flexible in terms of eligibility and exercise timing. 4. Restricted stock units (RSS): RSS represent a promise to deliver a specific number of company shares at a future date. They are typically granted to employees as part of their compensation package, with delivery occurring upon meeting specific vesting requirements. It is important to note that the California Stock Option Plan of WSFS Financial Corporation aligns with both state and federal laws, as well as complying with relevant regulations and guidelines set forth by regulatory bodies such as the Securities and Exchange Commission (SEC) and the IRS. WSFS Financial Corporation believes that offering stock options to employees fosters a sense of ownership, loyalty, and commitment to the company's long-term success. By providing participants with the opportunity to share in the company's growth, this plan creates a mutually beneficial relationship between employees and the corporation.

The California Stock Option Plan of WSFS Financial Corporation is a unique financial offering specifically designed for employees and stakeholders based in California. The plan aims to provide eligible participants with the opportunity to receive stock options as part of their compensation package. A stock option is a contractual agreement that grants the recipient the right to buy a specific number of shares of a company's stock at a predetermined price, also known as the exercise or strike price, for a defined period of time. It allows employees to benefit from the potential appreciation of the company's stock value over time. This incentive aligns the interests of the employees with those of the corporation, promoting long-term growth and success. WSFS Financial Corporation offers different types of California Stock Option Plans to address varying needs and objectives. These options may include: 1. Employee stock options: These are typically offered to employees and serve as a reward for their contributions and commitment to the company. Employees can exercise these options within a specified time frame and at a predetermined price. 2. Incentive stock options: This type of option is granted to key employees to provide additional motivation for their efforts, usually with specific performance goals. When exercised, they offer certain tax advantages, subject to meeting specific criteria outlined by the Internal Revenue Service (IRS). 3. Non-qualified stock options: These options do not qualify for the tax advantages available with incentive stock options. They are often offered to a broader range of employees and can be more flexible in terms of eligibility and exercise timing. 4. Restricted stock units (RSS): RSS represent a promise to deliver a specific number of company shares at a future date. They are typically granted to employees as part of their compensation package, with delivery occurring upon meeting specific vesting requirements. It is important to note that the California Stock Option Plan of WSFS Financial Corporation aligns with both state and federal laws, as well as complying with relevant regulations and guidelines set forth by regulatory bodies such as the Securities and Exchange Commission (SEC) and the IRS. WSFS Financial Corporation believes that offering stock options to employees fosters a sense of ownership, loyalty, and commitment to the company's long-term success. By providing participants with the opportunity to share in the company's growth, this plan creates a mutually beneficial relationship between employees and the corporation.