Hawaii 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 Hawaii Stock Option Plan of WSFS Financial Corporation is a comprehensive compensation program designed to attract, retain, and incentivize top talent within the company, focusing specifically on employees based in Hawaii. This plan offers various stock options and benefits to eligible employees, providing them with an opportunity to acquire and own shares of WSFS Financial Corporation. The Hawaii Stock Option Plan recognizes the unique market conditions and competitive landscape of Hawaii, tailoring its offerings to the specific needs and interests of employees based in the region. By implementing this plan, WSFS Financial Corporation aims to align the interests of employees with the long-term success and growth of the company. Key Features and Benefits of the Hawaii Stock Option Plan of WSFS Financial Corporation: 1. Employee Eligibility: Hawaii-based employees meeting certain predetermined criteria, such as job level or tenure with the company, are eligible to participate in this stock option plan. 2. Stock Option Grants: Participants in the plan receive stock options, allowing them to purchase shares of WSFS Financial Corporation at a predetermined exercise price. These options typically vest over a specified period, providing employees with an incentive to contribute to the company's performance in the long run. 3. Vesting Schedule: The Hawaii Stock Option Plan includes a vesting schedule that outlines the timeframe within which employees can exercise their stock options. This schedule can span multiple years and serves as a way to promote loyalty and continued dedication to the success of WSFS Financial Corporation. 4. Flexibility and Customization: The plan recognizes the diverse needs of employees by offering flexibility in the stock option program. It may include different types of options such as Non-Qualified Stock Options (SOS), Incentive Stock Options (SOS), or Restricted Stock Units (RSS) depending on the employee's role, performance, and tenure. 5. Competitive Advantage: The Hawaii Stock Option Plan is designed to provide WSFS Financial Corporation with a competitive edge in attracting and retaining talented individuals in the Hawaiian market. By offering stock options, employees have the opportunity to share in the company's growth and success, enhancing their overall compensation package. 6. Performance-Based Incentives: In addition to standard stock options, the Hawaii Stock Option Plan may incorporate performance-based incentives. These can include performance targets such as revenue growth, profitability, or key strategic milestones that, when achieved, provide additional rewards to participating employees. Overall, the Hawaii Stock Option Plan of WSFS Financial Corporation reflects the company's commitment to recognizing and rewarding the contribution of its employees based in Hawaii. It not only serves as a powerful tool for attracting and retaining talent, but also aligns the interests of employees with the long-term goals and prosperity of WSFS Financial Corporation.

The Hawaii Stock Option Plan of WSFS Financial Corporation is a comprehensive compensation program designed to attract, retain, and incentivize top talent within the company, focusing specifically on employees based in Hawaii. This plan offers various stock options and benefits to eligible employees, providing them with an opportunity to acquire and own shares of WSFS Financial Corporation. The Hawaii Stock Option Plan recognizes the unique market conditions and competitive landscape of Hawaii, tailoring its offerings to the specific needs and interests of employees based in the region. By implementing this plan, WSFS Financial Corporation aims to align the interests of employees with the long-term success and growth of the company. Key Features and Benefits of the Hawaii Stock Option Plan of WSFS Financial Corporation: 1. Employee Eligibility: Hawaii-based employees meeting certain predetermined criteria, such as job level or tenure with the company, are eligible to participate in this stock option plan. 2. Stock Option Grants: Participants in the plan receive stock options, allowing them to purchase shares of WSFS Financial Corporation at a predetermined exercise price. These options typically vest over a specified period, providing employees with an incentive to contribute to the company's performance in the long run. 3. Vesting Schedule: The Hawaii Stock Option Plan includes a vesting schedule that outlines the timeframe within which employees can exercise their stock options. This schedule can span multiple years and serves as a way to promote loyalty and continued dedication to the success of WSFS Financial Corporation. 4. Flexibility and Customization: The plan recognizes the diverse needs of employees by offering flexibility in the stock option program. It may include different types of options such as Non-Qualified Stock Options (SOS), Incentive Stock Options (SOS), or Restricted Stock Units (RSS) depending on the employee's role, performance, and tenure. 5. Competitive Advantage: The Hawaii Stock Option Plan is designed to provide WSFS Financial Corporation with a competitive edge in attracting and retaining talented individuals in the Hawaiian market. By offering stock options, employees have the opportunity to share in the company's growth and success, enhancing their overall compensation package. 6. Performance-Based Incentives: In addition to standard stock options, the Hawaii Stock Option Plan may incorporate performance-based incentives. These can include performance targets such as revenue growth, profitability, or key strategic milestones that, when achieved, provide additional rewards to participating employees. Overall, the Hawaii Stock Option Plan of WSFS Financial Corporation reflects the company's commitment to recognizing and rewarding the contribution of its employees based in Hawaii. It not only serves as a powerful tool for attracting and retaining talent, but also aligns the interests of employees with the long-term goals and prosperity of WSFS Financial Corporation.