Kentucky Adoption of Stock Option Plan of WSFS Financial Corporation

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-351I-NE
• Format: Word; Rich Text

Description

This is a multi-state form covering the subject matter of the title. The Kentucky Adoption of Stock Option Plan is a program implemented by WSFS Financial Corporation to provide employees with an opportunity to own a portion of the company's stock at a predetermined price. This plan aims to motivate and retain employees by offering them a sense of ownership and aligning their interests with the corporation's long-term success. Under the Kentucky Adoption of Stock Option Plan, employees are granted the right to purchase a specified number of shares at a predetermined exercise price within a set period. This exercise price is typically set at or near the market value of the corporation's stock on the date of grant. Employees can then exercise their options and purchase the shares at the exercise price after satisfying certain vesting requirements. The Kentucky Adoption of Stock Option Plan offered by WSFS Financial Corporation can be categorized into several types, including: 1. Incentive Stock Options (SOS): These plan options are granted to employees and offer certain tax advantages. SOS are subject to special tax rules, such as a required holding period after exercise to receive favorable tax treatment. 2. Non-Qualified Stock Options (Nests): These plan options are more flexible than SOS and do not have to meet specific tax requirements. However, they lack some tax advantages associated with SOS. 3. Restricted Stock Units (RSS): Instead of granting options, RSS provide employees with a right to receive a specified number of shares at a future date, typically upon vesting. RSS do not require any upfront payment from employees, but they are subject to income tax when the shares are received. 4. Performance Stock Units (Plus): Similar to RSS, Plus grant employees the right to receive a certain number of shares at a future date. However, the vesting and ultimate payout of these units are contingent upon achieving predetermined performance goals. It is important for employees participating in the Kentucky Adoption of Stock Option Plan to carefully review the plan documents, including the terms and conditions of each grant, as well as any applicable tax implications. Additionally, it is advisable for employees to consult with a financial advisor or tax professional to fully understand the potential benefits and risks associated with participating in the plan.

The Kentucky Adoption of Stock Option Plan is a program implemented by WSFS Financial Corporation to provide employees with an opportunity to own a portion of the company's stock at a predetermined price. This plan aims to motivate and retain employees by offering them a sense of ownership and aligning their interests with the corporation's long-term success. Under the Kentucky Adoption of Stock Option Plan, employees are granted the right to purchase a specified number of shares at a predetermined exercise price within a set period. This exercise price is typically set at or near the market value of the corporation's stock on the date of grant. Employees can then exercise their options and purchase the shares at the exercise price after satisfying certain vesting requirements. The Kentucky Adoption of Stock Option Plan offered by WSFS Financial Corporation can be categorized into several types, including: 1. Incentive Stock Options (SOS): These plan options are granted to employees and offer certain tax advantages. SOS are subject to special tax rules, such as a required holding period after exercise to receive favorable tax treatment. 2. Non-Qualified Stock Options (Nests): These plan options are more flexible than SOS and do not have to meet specific tax requirements. However, they lack some tax advantages associated with SOS. 3. Restricted Stock Units (RSS): Instead of granting options, RSS provide employees with a right to receive a specified number of shares at a future date, typically upon vesting. RSS do not require any upfront payment from employees, but they are subject to income tax when the shares are received. 4. Performance Stock Units (Plus): Similar to RSS, Plus grant employees the right to receive a certain number of shares at a future date. However, the vesting and ultimate payout of these units are contingent upon achieving predetermined performance goals. It is important for employees participating in the Kentucky Adoption of Stock Option Plan to carefully review the plan documents, including the terms and conditions of each grant, as well as any applicable tax implications. Additionally, it is advisable for employees to consult with a financial advisor or tax professional to fully understand the potential benefits and risks associated with participating in the plan.