District of Columbia 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 District of Columbia Stock Option Plan (DC SOP) of WSFS Financial Corporation is a comprehensive compensation program offered to employees, executives, and directors of the company. This plan enables eligible individuals to purchase company stock at a predetermined price within a specified timeframe. The DC SOP serves as a valuable tool for attracting and retaining talented professionals while aligning their interests with the long-term success of WSFS Financial Corporation. Under the District of Columbia Stock Option Plan, participants are granted the right to buy a certain number of shares of WSFS Financial Corporation's common stock at a discounted price, known as the exercise or strike price. These options usually have a vesting period, during which the participant must remain employed by the company to unlock the full benefits of the options. There are various types of stock options available under WSFS Financial Corporation's DC SOP, including: 1. Non-Qualified Stock Options (SOS): These are stock options that do not meet specific tax requirements set by the Internal Revenue Service (IRS). SOS offer flexibility as individuals can exercise their options at any time once vested. 2. Incentive Stock Options (SOS): SOS are stock options that meet specific IRS criteria, providing potential tax advantages for participants. To qualify for these options, individuals must meet designated length-of-service requirements and hold the stock for a specific period before selling it. 3. Restricted Stock Units (RSS): This type of option does not require participants to actively purchase stocks. Instead, RSS entitle participants to receive actual stock shares once the vesting period is complete. 4. Performance Stock Units (Plus): Plus are tied to specific performance goals or company metrics. Participants receive shares of stock based on their individual or group performance, encouraging them to contribute to the company's overall success. WSFS Financial Corporation's DC SOP is designed to motivate employees to drive exceptional business results, strengthen the company's financial performance, and promote a culture of ownership. It aims to align the interests of participants with those of shareholders, fostering a sense of shared commitment and dedication. The DC SOP is regularly reviewed and updated to adhere to the laws and regulations of the District of Columbia and ensure its continued effectiveness in rewarding and retaining top talent.

The District of Columbia Stock Option Plan (DC SOP) of WSFS Financial Corporation is a comprehensive compensation program offered to employees, executives, and directors of the company. This plan enables eligible individuals to purchase company stock at a predetermined price within a specified timeframe. The DC SOP serves as a valuable tool for attracting and retaining talented professionals while aligning their interests with the long-term success of WSFS Financial Corporation. Under the District of Columbia Stock Option Plan, participants are granted the right to buy a certain number of shares of WSFS Financial Corporation's common stock at a discounted price, known as the exercise or strike price. These options usually have a vesting period, during which the participant must remain employed by the company to unlock the full benefits of the options. There are various types of stock options available under WSFS Financial Corporation's DC SOP, including: 1. Non-Qualified Stock Options (SOS): These are stock options that do not meet specific tax requirements set by the Internal Revenue Service (IRS). SOS offer flexibility as individuals can exercise their options at any time once vested. 2. Incentive Stock Options (SOS): SOS are stock options that meet specific IRS criteria, providing potential tax advantages for participants. To qualify for these options, individuals must meet designated length-of-service requirements and hold the stock for a specific period before selling it. 3. Restricted Stock Units (RSS): This type of option does not require participants to actively purchase stocks. Instead, RSS entitle participants to receive actual stock shares once the vesting period is complete. 4. Performance Stock Units (Plus): Plus are tied to specific performance goals or company metrics. Participants receive shares of stock based on their individual or group performance, encouraging them to contribute to the company's overall success. WSFS Financial Corporation's DC SOP is designed to motivate employees to drive exceptional business results, strengthen the company's financial performance, and promote a culture of ownership. It aims to align the interests of participants with those of shareholders, fostering a sense of shared commitment and dedication. The DC SOP is regularly reviewed and updated to adhere to the laws and regulations of the District of Columbia and ensure its continued effectiveness in rewarding and retaining top talent.