Iowa 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 Iowa Stock Option Plan is a significant aspect of WSFS Financial Corporation's compensation package for their employees in the state of Iowa. It serves as a valuable incentive to motivate and retain talented individuals within the organization. The plan allows eligible employees to purchase shares of WSFS Financial Corporation's stock at a predetermined price during a specified period. These stock options are typically granted as part of an employee's compensation package and serve as a mechanism to align their interests with the company's long-term success. WSFS Financial Corporation offers various types of stock option plans under the Iowa Stock Option Plan. These may include Non-Qualified Stock Options (Nests) and Incentive Stock Options (SOS). 1. Non-Qualified Stock Options (Nests): These options are typically offered to a broader group of employees and provide the flexibility to purchase WSFS Financial Corporation's stock at a set price. Nests are subject to taxation upon exercise, and the employee may be required to pay ordinary income tax on the difference between the exercise price and the fair market value of the stock at the time of exercise. 2. Incentive Stock Options (SOS): These options, generally granted to key executives and valued employees, offer certain tax advantages. If certain criteria are met, the exercise of SOS may qualify for favorable capital gains tax rates instead of ordinary income tax rates. However, SOS come with specific rules and regulations, such as holding periods and exercise windows, that employees must adhere to. WSFS Financial Corporation's Iowa Stock Option Plan provides employees with an opportunity to share in the company's growth and success over time. It incentivizes and rewards employees for their commitment, performance, and contribution to the organization's goals. It is important to note that the specific details, terms, and conditions of the Iowa Stock Option Plan may vary, and employees are encouraged to refer to the official plan documents and consult with their financial advisors or HR department for accurate and up-to-date information. In summary, the Iowa Stock Option Plan of WSFS Financial Corporation is a comprehensive and enticing compensation feature that grants employees the opportunity to acquire shares of the company's stock at a predetermined price. It promotes alignment between the organization and its employees while recognizing their efforts and fostering long-term commitment.

The Iowa Stock Option Plan is a significant aspect of WSFS Financial Corporation's compensation package for their employees in the state of Iowa. It serves as a valuable incentive to motivate and retain talented individuals within the organization. The plan allows eligible employees to purchase shares of WSFS Financial Corporation's stock at a predetermined price during a specified period. These stock options are typically granted as part of an employee's compensation package and serve as a mechanism to align their interests with the company's long-term success. WSFS Financial Corporation offers various types of stock option plans under the Iowa Stock Option Plan. These may include Non-Qualified Stock Options (Nests) and Incentive Stock Options (SOS). 1. Non-Qualified Stock Options (Nests): These options are typically offered to a broader group of employees and provide the flexibility to purchase WSFS Financial Corporation's stock at a set price. Nests are subject to taxation upon exercise, and the employee may be required to pay ordinary income tax on the difference between the exercise price and the fair market value of the stock at the time of exercise. 2. Incentive Stock Options (SOS): These options, generally granted to key executives and valued employees, offer certain tax advantages. If certain criteria are met, the exercise of SOS may qualify for favorable capital gains tax rates instead of ordinary income tax rates. However, SOS come with specific rules and regulations, such as holding periods and exercise windows, that employees must adhere to. WSFS Financial Corporation's Iowa Stock Option Plan provides employees with an opportunity to share in the company's growth and success over time. It incentivizes and rewards employees for their commitment, performance, and contribution to the organization's goals. It is important to note that the specific details, terms, and conditions of the Iowa Stock Option Plan may vary, and employees are encouraged to refer to the official plan documents and consult with their financial advisors or HR department for accurate and up-to-date information. In summary, the Iowa Stock Option Plan of WSFS Financial Corporation is a comprehensive and enticing compensation feature that grants employees the opportunity to acquire shares of the company's stock at a predetermined price. It promotes alignment between the organization and its employees while recognizing their efforts and fostering long-term commitment.