Idaho 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 Idaho Stock Option Plan of WSFS Financial Corporation is a comprehensive and flexible employee stock option program designed to incentivize and reward employees in the state of Idaho. This stock option plan allows employees of WSFS Financial Corporation, a highly reputable financial institution, to purchase company stock at a predetermined price, known as the exercise price, within a specified time frame. The Idaho Stock Option Plan is a vital component of WSFS Financial Corporation's overall compensation strategy, aimed at attracting and retaining top talent. Through this plan, employees are given the opportunity to share in the company's success and increase their personal wealth. By aligning employees' financial interests with the company's performance, the plan encourages employees to perform at their best, and fosters a sense of ownership and loyalty towards the organization. One of the main advantages of the Idaho Stock Option Plan is its flexibility. It offers different types of stock options, ensuring employees have options tailored to their specific needs and circumstances. These options include: 1. Incentive Stock Options (SOS): SOS are typically reserved for high-performing employees and are subject to certain tax advantages. They provide the right to purchase company stock at the exercise price, which is usually set at the fair market value of the stock at the time of the grant. 2. Non-Qualified Stock Options (Nests): Nests are more broadly available to employees and do not offer the same tax benefits as SOS. However, they still provide the opportunity to buy company stock at a predetermined price, offering potential long-term gains. 3. Restricted Stock Units (RSS): RSS are another type of stock option that grants employees the right to receive company stock at a future date, subject to certain performance or time-based vesting conditions. RSS provides a guaranteed number of shares upon vesting, without the need for employees to purchase them. The Idaho Stock Option Plan of WSFS Financial Corporation, with its variety of options, serves as a valuable tool for attracting and retaining highly talented individuals in Idaho. It promotes a culture of ownership, motivates employees to contribute to the company's success, and allows them to share in the financial rewards. This plan exemplifies WSFS Financial Corporation's commitment to supporting its employees' long-term growth and financial well-being.

The Idaho Stock Option Plan of WSFS Financial Corporation is a comprehensive and flexible employee stock option program designed to incentivize and reward employees in the state of Idaho. This stock option plan allows employees of WSFS Financial Corporation, a highly reputable financial institution, to purchase company stock at a predetermined price, known as the exercise price, within a specified time frame. The Idaho Stock Option Plan is a vital component of WSFS Financial Corporation's overall compensation strategy, aimed at attracting and retaining top talent. Through this plan, employees are given the opportunity to share in the company's success and increase their personal wealth. By aligning employees' financial interests with the company's performance, the plan encourages employees to perform at their best, and fosters a sense of ownership and loyalty towards the organization. One of the main advantages of the Idaho Stock Option Plan is its flexibility. It offers different types of stock options, ensuring employees have options tailored to their specific needs and circumstances. These options include: 1. Incentive Stock Options (SOS): SOS are typically reserved for high-performing employees and are subject to certain tax advantages. They provide the right to purchase company stock at the exercise price, which is usually set at the fair market value of the stock at the time of the grant. 2. Non-Qualified Stock Options (Nests): Nests are more broadly available to employees and do not offer the same tax benefits as SOS. However, they still provide the opportunity to buy company stock at a predetermined price, offering potential long-term gains. 3. Restricted Stock Units (RSS): RSS are another type of stock option that grants employees the right to receive company stock at a future date, subject to certain performance or time-based vesting conditions. RSS provides a guaranteed number of shares upon vesting, without the need for employees to purchase them. The Idaho Stock Option Plan of WSFS Financial Corporation, with its variety of options, serves as a valuable tool for attracting and retaining highly talented individuals in Idaho. It promotes a culture of ownership, motivates employees to contribute to the company's success, and allows them to share in the financial rewards. This plan exemplifies WSFS Financial Corporation's commitment to supporting its employees' long-term growth and financial well-being.