Michigan 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 Michigan Stock Option Plan of WSFS Financial Corporation is a program designed to provide employees with the opportunity to purchase company stock at a predetermined price within a specified period. This plan comes with certain terms and conditions that aim to incentivize and reward employees, while aligning their interests with the long-term success of the organization. Under the Michigan Stock Option Plan, WSFS Financial Corporation offers different types of stock options to eligible employees. These options can be categorized into two types: non-qualified stock options (SOS) and incentive stock options (SOS). 1. Non-Qualified Stock Options (SOS): Non-Qualified Stock Options are a common type of stock option that provides employees with the right to purchase company stock at a predetermined exercise price. Employees can exercise these options at any time after a specified vesting period. SOS are subject to taxation on the difference between the exercise price and the fair market value of the stock at the time of exercise, known as the "bargain element." 2. Incentive Stock Options (SOS): Incentive Stock Options are another form of stock options granted to employees, but with specific tax advantages. SOS offer employees the opportunity to purchase company stock at a predetermined exercise price, typically at a discount to the fair market value. To qualify for favorable tax treatment, SOS must comply with certain conditions set by the Internal Revenue Service (IRS). If employees meet these requirements, they may benefit from capital gains tax treatment upon the sale of the stock. The Michigan Stock Option Plan is designed to attract and retain talented employees by providing them with an ownership stake in the company. By offering stock options, WSFS Financial Corporation aims to motivate and incentivize employees, aligning their interests with those of the shareholders. This plan encourages employees to contribute to the long-term growth and profitability of the organization. WSFS Financial Corporation carefully administers the Michigan Stock Option Plan, ensuring compliance with applicable laws and regulations. Employees are typically provided with detailed information regarding the terms, vesting periods, exercise prices, and tax implications of the stock options they are granted. In conclusion, the Michigan Stock Option Plan offered by WSFS Financial Corporation provides employees with the opportunity to purchase company stock through SOS and SOS. This program serves as a valuable tool for attracting, rewarding, and retaining top talent while fostering a sense of ownership and commitment among employees.

The Michigan Stock Option Plan of WSFS Financial Corporation is a program designed to provide employees with the opportunity to purchase company stock at a predetermined price within a specified period. This plan comes with certain terms and conditions that aim to incentivize and reward employees, while aligning their interests with the long-term success of the organization. Under the Michigan Stock Option Plan, WSFS Financial Corporation offers different types of stock options to eligible employees. These options can be categorized into two types: non-qualified stock options (SOS) and incentive stock options (SOS). 1. Non-Qualified Stock Options (SOS): Non-Qualified Stock Options are a common type of stock option that provides employees with the right to purchase company stock at a predetermined exercise price. Employees can exercise these options at any time after a specified vesting period. SOS are subject to taxation on the difference between the exercise price and the fair market value of the stock at the time of exercise, known as the "bargain element." 2. Incentive Stock Options (SOS): Incentive Stock Options are another form of stock options granted to employees, but with specific tax advantages. SOS offer employees the opportunity to purchase company stock at a predetermined exercise price, typically at a discount to the fair market value. To qualify for favorable tax treatment, SOS must comply with certain conditions set by the Internal Revenue Service (IRS). If employees meet these requirements, they may benefit from capital gains tax treatment upon the sale of the stock. The Michigan Stock Option Plan is designed to attract and retain talented employees by providing them with an ownership stake in the company. By offering stock options, WSFS Financial Corporation aims to motivate and incentivize employees, aligning their interests with those of the shareholders. This plan encourages employees to contribute to the long-term growth and profitability of the organization. WSFS Financial Corporation carefully administers the Michigan Stock Option Plan, ensuring compliance with applicable laws and regulations. Employees are typically provided with detailed information regarding the terms, vesting periods, exercise prices, and tax implications of the stock options they are granted. In conclusion, the Michigan Stock Option Plan offered by WSFS Financial Corporation provides employees with the opportunity to purchase company stock through SOS and SOS. This program serves as a valuable tool for attracting, rewarding, and retaining top talent while fostering a sense of ownership and commitment among employees.