Kentucky 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 Kentucky Stock Option Plan of WSFS Financial Corporation is a compensation program offered by the corporation to its employees. This plan allows eligible employees to purchase company stock at a predetermined price within a specified time frame. By participating in the Kentucky Stock Option Plan, employees have the opportunity to become partial owners of the corporation, aligning their interests with the long-term success of WSFS Financial Corporation. This plan serves as a retention and motivation tool for employees, as it provides them with an additional financial incentive tied to the company's performance. There are several types of Kentucky Stock Option Plans offered by WSFS Financial Corporation, including: 1. Non-Qualified Stock Options (Nests): These options are typically granted to employees and allow them to purchase company stock at a predetermined price, known as the exercise price, within a specified time period. Nests offer flexibility in terms of exercise timing and can be granted at a discount or fair market value. 2. Incentive Stock Options (SOS): SOS are another type of stock option plan offered by WSFS Financial Corporation. These options are generally granted to key employees and have certain tax advantages. When exercising SOS, employees can potentially qualify for preferential tax treatment if they meet specific holding requirements. 3. Employee Stock Purchase Plan (ESPN): The Employee Stock Purchase Plan is a voluntary program that allows eligible employees to contribute a portion of their earnings to purchase WSFS Financial Corporation's stock at a discounted price. This plan aims to encourage employee ownership and long-term commitment to the organization. The Kentucky Stock Option Plan of WSFS Financial Corporation provides employees with an opportunity to share in the growth and profitability of the company. It incentivizes employees to perform at their best, as their overall compensation can increase based on the appreciation in the company's stock price. This plan helps build loyalty and fosters a sense of ownership among employees, aligning their goals with the corporation's success.

The Kentucky Stock Option Plan of WSFS Financial Corporation is a compensation program offered by the corporation to its employees. This plan allows eligible employees to purchase company stock at a predetermined price within a specified time frame. By participating in the Kentucky Stock Option Plan, employees have the opportunity to become partial owners of the corporation, aligning their interests with the long-term success of WSFS Financial Corporation. This plan serves as a retention and motivation tool for employees, as it provides them with an additional financial incentive tied to the company's performance. There are several types of Kentucky Stock Option Plans offered by WSFS Financial Corporation, including: 1. Non-Qualified Stock Options (Nests): These options are typically granted to employees and allow them to purchase company stock at a predetermined price, known as the exercise price, within a specified time period. Nests offer flexibility in terms of exercise timing and can be granted at a discount or fair market value. 2. Incentive Stock Options (SOS): SOS are another type of stock option plan offered by WSFS Financial Corporation. These options are generally granted to key employees and have certain tax advantages. When exercising SOS, employees can potentially qualify for preferential tax treatment if they meet specific holding requirements. 3. Employee Stock Purchase Plan (ESPN): The Employee Stock Purchase Plan is a voluntary program that allows eligible employees to contribute a portion of their earnings to purchase WSFS Financial Corporation's stock at a discounted price. This plan aims to encourage employee ownership and long-term commitment to the organization. The Kentucky Stock Option Plan of WSFS Financial Corporation provides employees with an opportunity to share in the growth and profitability of the company. It incentivizes employees to perform at their best, as their overall compensation can increase based on the appreciation in the company's stock price. This plan helps build loyalty and fosters a sense of ownership among employees, aligning their goals with the corporation's success.