Illinois 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 Illinois Stock Option Plan of WSFS Financial Corporation is a comprehensive equity compensation plan designed to reward employees with company stocks. This plan specifically pertains to the operations of WSFS Financial Corporation, a financial services company headquartered in Wilmington, Delaware. While the plan is available to employees nationwide, here we focus on the Illinois-specific aspects. Keywords: Illinois Stock Option Plan, WSFS Financial Corporation, equity compensation, company stocks, financial services, Delaware, Illinois employees. The Illinois Stock Option Plan of WSFS Financial Corporation offers several types of stock options to its eligible employees. These options allow employees the opportunity to purchase shares of WSFS Financial Corporation at a predetermined price, known as the exercise price. 1. Non-Qualified Stock Options (Nests): Under this type of option, Illinois employees gain flexibility in when and how they can exercise their stock options. Once the options vest, employees can choose to exercise the options and purchase shares at the exercise price. The difference between the exercise price and the current market value of the shares is the taxable gain for the employee. 2. Incentive Stock Options (SOS): SOS are another type of stock option available to Illinois employees of WSFS Financial Corporation. These options provide certain tax advantages to employees if specific holding period requirements are met. To qualify, employees must hold the shares obtained through exercising the SOS for a certain period before selling them. This type of option is typically granted to key employees and executives. 3. Restricted Stock Units (RSS): RSS are an alternative type of equity compensation offered under the Illinois Stock Option Plan. With RSS, employees receive a grant of company stock units, which convert into shares upon vesting. RSS often come with time-based vesting schedules or performance-based conditions. Once vested, Illinois employees can choose to convert their RSS into shares of WSFS Financial Corporation. 4. Employee Stock Purchase Plan (ESPN): WSFS Financial Corporation's Employee Stock Purchase Plan provides Illinois employees with the opportunity to purchase company shares at a discounted price through payroll deductions. This plan allows employees to accumulate shares of the company over time, fostering a sense of ownership and aligning their interests with the corporation's success. The Illinois Stock Option Plan of WSFS Financial Corporation aims to motivate and retain talented individuals by providing them with the opportunity to participate in the company's growth and success. By offering various types of stock options, such as Nests, SOS, RSS, and an ESPN, WSFS Financial Corporation ensures employees have flexible and tailored options for their individual needs and financial objectives. Disclaimer: Please note that the information provided here is a general overview and is subject to change. For the specific details, terms, and conditions of the Illinois Stock Option Plan of WSFS Financial Corporation, employees are advised to refer to the official plan documents and consult with their financial advisors.

Illinois Stock Option Plan of WSFS Financial Corporation is a comprehensive equity compensation plan designed to reward employees with company stocks. This plan specifically pertains to the operations of WSFS Financial Corporation, a financial services company headquartered in Wilmington, Delaware. While the plan is available to employees nationwide, here we focus on the Illinois-specific aspects. Keywords: Illinois Stock Option Plan, WSFS Financial Corporation, equity compensation, company stocks, financial services, Delaware, Illinois employees. The Illinois Stock Option Plan of WSFS Financial Corporation offers several types of stock options to its eligible employees. These options allow employees the opportunity to purchase shares of WSFS Financial Corporation at a predetermined price, known as the exercise price. 1. Non-Qualified Stock Options (Nests): Under this type of option, Illinois employees gain flexibility in when and how they can exercise their stock options. Once the options vest, employees can choose to exercise the options and purchase shares at the exercise price. The difference between the exercise price and the current market value of the shares is the taxable gain for the employee. 2. Incentive Stock Options (SOS): SOS are another type of stock option available to Illinois employees of WSFS Financial Corporation. These options provide certain tax advantages to employees if specific holding period requirements are met. To qualify, employees must hold the shares obtained through exercising the SOS for a certain period before selling them. This type of option is typically granted to key employees and executives. 3. Restricted Stock Units (RSS): RSS are an alternative type of equity compensation offered under the Illinois Stock Option Plan. With RSS, employees receive a grant of company stock units, which convert into shares upon vesting. RSS often come with time-based vesting schedules or performance-based conditions. Once vested, Illinois employees can choose to convert their RSS into shares of WSFS Financial Corporation. 4. Employee Stock Purchase Plan (ESPN): WSFS Financial Corporation's Employee Stock Purchase Plan provides Illinois employees with the opportunity to purchase company shares at a discounted price through payroll deductions. This plan allows employees to accumulate shares of the company over time, fostering a sense of ownership and aligning their interests with the corporation's success. The Illinois Stock Option Plan of WSFS Financial Corporation aims to motivate and retain talented individuals by providing them with the opportunity to participate in the company's growth and success. By offering various types of stock options, such as Nests, SOS, RSS, and an ESPN, WSFS Financial Corporation ensures employees have flexible and tailored options for their individual needs and financial objectives. Disclaimer: Please note that the information provided here is a general overview and is subject to change. For the specific details, terms, and conditions of the Illinois Stock Option Plan of WSFS Financial Corporation, employees are advised to refer to the official plan documents and consult with their financial advisors.