Louisiana 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 Louisiana Stock Option Plan of WSFS Financial Corporation is a comprehensive equity-based compensation initiative offered by the company to its employees. This plan is designed to incentivize and reward employees for their contributions to the growth and success of the corporation. The Louisiana Stock Option Plan allows eligible participants to purchase a certain number of shares of WSFS Financial Corporation stock at a predetermined price known as the exercise price. The exercise price is typically set at the current market value of the stock at the time the options are granted, ensuring that employees have an opportunity to benefit from any future increase in the stock price. There are two main types of stock options offered under the Louisiana Stock Option Plan: non-qualified stock options (Nests) and incentive stock options (SOS). Both types of options grant the right to purchase shares of the company's stock, but they differ in terms of tax treatment and eligibility requirements. 1. Non-Qualified Stock Options (Nests): Nests are available to all employees, regardless of their position or employment tenure. They provide employees with the flexibility to exercise their options at any time, subject to certain vesting requirements and the terms of the plan. Upon exercise, employees may be subject to ordinary income tax on the difference between the exercise price and the fair market value of the stock. 2. Incentive Stock Options (SOS): SOS are typically reserved for key employees and executives. These options come with certain tax advantages, as the employee may qualify for special tax treatment if they meet specific criteria. SOS also have stricter eligibility requirements, including a limitation on the total value of stock that can be subject to SOS within a calendar year. Employees must hold the SOS for a specific period of time before selling the stock to qualify for favorable tax treatment. Under the Louisiana Stock Option Plan of WSFS Financial Corporation, employees are granted stock options as part of their compensation package. The plan aims to align the interests of employees with the long-term success of the corporation, fostering a sense of ownership and encouraging individuals to contribute to the company's growth. Please note that this description is purely fictional and for illustrative purposes only — it does not represent a real Louisiana Stock Option Plan of WSFS Financial Corporation.

The Louisiana Stock Option Plan of WSFS Financial Corporation is a comprehensive equity-based compensation initiative offered by the company to its employees. This plan is designed to incentivize and reward employees for their contributions to the growth and success of the corporation. The Louisiana Stock Option Plan allows eligible participants to purchase a certain number of shares of WSFS Financial Corporation stock at a predetermined price known as the exercise price. The exercise price is typically set at the current market value of the stock at the time the options are granted, ensuring that employees have an opportunity to benefit from any future increase in the stock price. There are two main types of stock options offered under the Louisiana Stock Option Plan: non-qualified stock options (Nests) and incentive stock options (SOS). Both types of options grant the right to purchase shares of the company's stock, but they differ in terms of tax treatment and eligibility requirements. 1. Non-Qualified Stock Options (Nests): Nests are available to all employees, regardless of their position or employment tenure. They provide employees with the flexibility to exercise their options at any time, subject to certain vesting requirements and the terms of the plan. Upon exercise, employees may be subject to ordinary income tax on the difference between the exercise price and the fair market value of the stock. 2. Incentive Stock Options (SOS): SOS are typically reserved for key employees and executives. These options come with certain tax advantages, as the employee may qualify for special tax treatment if they meet specific criteria. SOS also have stricter eligibility requirements, including a limitation on the total value of stock that can be subject to SOS within a calendar year. Employees must hold the SOS for a specific period of time before selling the stock to qualify for favorable tax treatment. Under the Louisiana Stock Option Plan of WSFS Financial Corporation, employees are granted stock options as part of their compensation package. The plan aims to align the interests of employees with the long-term success of the corporation, fostering a sense of ownership and encouraging individuals to contribute to the company's growth. Please note that this description is purely fictional and for illustrative purposes only — it does not represent a real Louisiana Stock Option Plan of WSFS Financial Corporation.