Delaware 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 Delaware Stock Option Plan of WSFS Financial Corporation is a comprehensive program designed to incentivize employees and offer them the opportunity to acquire a stake in the company's future growth. This plan plays a crucial role in attracting and retaining top talent, as well as aligning the interests of employees with those of shareholders. Under the Delaware Stock Option Plan, employees are granted the right to purchase a specific number of shares of WSFS Financial Corporation stock at a predetermined price, within a specified period. These stock options are typically granted as part of an employee's overall compensation package, serving as a performance-based reward and a means of enhancing organizational loyalty. The plan offers various types of stock options to cater to different employee needs and circumstances. The most common type is the Non-Qualified Stock Option (NO), which provides employees with the flexibility to exercise their options at any time. Nests usually have a longer exercise period, allowing employees to benefit from potential increases in stock value over time. Another type of option available is the Incentive Stock Option (ISO). SOS are designed specifically for key employees and offer certain tax advantages. These options are subject to more stringent eligibility criteria, including limits on the number of shares and exercise price. Restricted Stock Units (RSS) are another form of equity compensation offered through the Delaware Stock Option Plan. RSS represents an agreement to receive a specific number of shares at a future date, usually contingent on the employee's continued service within the organization. These units offer employees the potential to benefit from the appreciation of WSFS Financial Corporation stock while reducing the risk associated with traditional stock options. The Delaware Stock Option Plan operates within the legal framework provided by the state of Delaware, which offers favorable laws for the administration of stock option plans. This plan is governed by a comprehensive set of rules and regulations to ensure fair and equitable treatment of participants. Overall, the Delaware Stock Option Plan of WSFS Financial Corporation serves as a critical tool for attracting, retaining, and motivating talented employees. It provides employees with an opportunity to share in the company's success while aligning their interests with the long-term success of WSFS Financial Corporation.

The Delaware Stock Option Plan of WSFS Financial Corporation is a comprehensive program designed to incentivize employees and offer them the opportunity to acquire a stake in the company's future growth. This plan plays a crucial role in attracting and retaining top talent, as well as aligning the interests of employees with those of shareholders. Under the Delaware Stock Option Plan, employees are granted the right to purchase a specific number of shares of WSFS Financial Corporation stock at a predetermined price, within a specified period. These stock options are typically granted as part of an employee's overall compensation package, serving as a performance-based reward and a means of enhancing organizational loyalty. The plan offers various types of stock options to cater to different employee needs and circumstances. The most common type is the Non-Qualified Stock Option (NO), which provides employees with the flexibility to exercise their options at any time. Nests usually have a longer exercise period, allowing employees to benefit from potential increases in stock value over time. Another type of option available is the Incentive Stock Option (ISO). SOS are designed specifically for key employees and offer certain tax advantages. These options are subject to more stringent eligibility criteria, including limits on the number of shares and exercise price. Restricted Stock Units (RSS) are another form of equity compensation offered through the Delaware Stock Option Plan. RSS represents an agreement to receive a specific number of shares at a future date, usually contingent on the employee's continued service within the organization. These units offer employees the potential to benefit from the appreciation of WSFS Financial Corporation stock while reducing the risk associated with traditional stock options. The Delaware Stock Option Plan operates within the legal framework provided by the state of Delaware, which offers favorable laws for the administration of stock option plans. This plan is governed by a comprehensive set of rules and regulations to ensure fair and equitable treatment of participants. Overall, the Delaware Stock Option Plan of WSFS Financial Corporation serves as a critical tool for attracting, retaining, and motivating talented employees. It provides employees with an opportunity to share in the company's success while aligning their interests with the long-term success of WSFS Financial Corporation.