Maryland 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 Maryland Stock Option Plan of WSFS Financial Corporation is a comprehensive employee benefits program offered by the company. As an employer-based stock option plan, it allows employees to purchase company stock at a predetermined price, boosting their motivation, commitment, and alignment with the organization's success. These stock options grant employees the right to buy a specified number of shares in WSFS Financial Corporation at a set exercise price within a specific timeframe. The Maryland Stock Option Plan provides several types of options to eligible employees. The most common type is the Non-Qualified Stock Option (NO). Nests are available to all employees, providing the flexibility to purchase company stock with after-tax dollars. Another type of option is the Incentive Stock Option (ISO). SOS are granted to key employees and offer tax advantages by allowing them to buy company stock at a predetermined price without incurring immediate tax liability. Additionally, the Maryland Stock Option Plan includes Restricted Stock Units (RSS) as another form of compensation. RSS grant employees the right to receive shares of company stock upon meeting certain vesting requirements. Unlike stock options, RSS do not have an exercise price, but the shares are granted to employees directly. Employees participating in the Maryland Stock Option Plan have the opportunity to accrue company stock over time, benefiting from its potential appreciation. This program serves as a powerful tool to attract and retain top talent while fostering a sense of ownership among employees. It aligns their interests with the company's long-term success and encourages them to actively contribute to WSFS Financial Corporation's growth and profitability. In conclusion, the Maryland Stock Option Plan of WSFS Financial Corporation is a versatile employee benefits program that grants employees the opportunity to purchase company stock at a predetermined price. It includes various types of options such as Non-Qualified Stock Options and Incentive Stock Options, as well as Restricted Stock Units. This comprehensive plan plays a crucial role in enhancing employee engagement, motivation, and loyalty, contributing to the overall success of WSFS Financial Corporation.

The Maryland Stock Option Plan of WSFS Financial Corporation is a comprehensive employee benefits program offered by the company. As an employer-based stock option plan, it allows employees to purchase company stock at a predetermined price, boosting their motivation, commitment, and alignment with the organization's success. These stock options grant employees the right to buy a specified number of shares in WSFS Financial Corporation at a set exercise price within a specific timeframe. The Maryland Stock Option Plan provides several types of options to eligible employees. The most common type is the Non-Qualified Stock Option (NO). Nests are available to all employees, providing the flexibility to purchase company stock with after-tax dollars. Another type of option is the Incentive Stock Option (ISO). SOS are granted to key employees and offer tax advantages by allowing them to buy company stock at a predetermined price without incurring immediate tax liability. Additionally, the Maryland Stock Option Plan includes Restricted Stock Units (RSS) as another form of compensation. RSS grant employees the right to receive shares of company stock upon meeting certain vesting requirements. Unlike stock options, RSS do not have an exercise price, but the shares are granted to employees directly. Employees participating in the Maryland Stock Option Plan have the opportunity to accrue company stock over time, benefiting from its potential appreciation. This program serves as a powerful tool to attract and retain top talent while fostering a sense of ownership among employees. It aligns their interests with the company's long-term success and encourages them to actively contribute to WSFS Financial Corporation's growth and profitability. In conclusion, the Maryland Stock Option Plan of WSFS Financial Corporation is a versatile employee benefits program that grants employees the opportunity to purchase company stock at a predetermined price. It includes various types of options such as Non-Qualified Stock Options and Incentive Stock Options, as well as Restricted Stock Units. This comprehensive plan plays a crucial role in enhancing employee engagement, motivation, and loyalty, contributing to the overall success of WSFS Financial Corporation.