North Carolina 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 North Carolina Stock Option Plan is a program offered by WSFS Financial Corporation that allows employees and executives to receive stock options as a form of compensation. These stock options provide individuals with the right to purchase a specified number of WSFS Financial Corporation shares at a predetermined price within a designated timeframe. This stock option plan aims to incentivize employees and align their interests with the company's overall performance. It encourages employees to contribute to the growth and success of WSFS Financial Corporation, fostering a sense of ownership and loyalty. There are various types of stock options available within the North Carolina Stock Option Plan, tailored to meet the different needs and roles within the company: 1. Non-Qualified Stock Options (Nests): These stock options give employees the flexibility to purchase company stock at a predetermined price, known as the exercise price. Nests are typically granted to employees at their current market value and are subject to taxation when exercised. 2. Incentive Stock Options (SOS): SOS are another type of stock option granted to employees, primarily for tax benefits. They are subject to specific requirements set by the Internal Revenue Service (IRS) and must be granted at or above the stock's market value. Employees may incur favorable tax treatment upon exercise and may be eligible for long-term capital gains tax rates upon sale of the stock. 3. Restricted Stock Units (RSS): RSS are not stock options but rather units that represent the right to receive company stock at a future date. They are granted to employees and generally vest over a predetermined period. Once the RSS vest, employees receive the underlying shares. RSS offers a simplified approach by avoiding the need to determine the exercise price. 4. Performance Stock Units (Plus): Plus are similar to RSS but are granted based on performance criteria. They are designed to reward employees for achieving specific performance goals, such as revenue targets or earnings per share. Once the performance goals are met, Plus convert into shares of company stock. It is important to note that the North Carolina Stock Option Plan of WSFS Financial Corporation is subject to specific terms and conditions outlined in the plan documents. Employees and executives should review the plan details and consult with their financial advisors to fully understand the implications and benefits of participating in the program.

The North Carolina Stock Option Plan is a program offered by WSFS Financial Corporation that allows employees and executives to receive stock options as a form of compensation. These stock options provide individuals with the right to purchase a specified number of WSFS Financial Corporation shares at a predetermined price within a designated timeframe. This stock option plan aims to incentivize employees and align their interests with the company's overall performance. It encourages employees to contribute to the growth and success of WSFS Financial Corporation, fostering a sense of ownership and loyalty. There are various types of stock options available within the North Carolina Stock Option Plan, tailored to meet the different needs and roles within the company: 1. Non-Qualified Stock Options (Nests): These stock options give employees the flexibility to purchase company stock at a predetermined price, known as the exercise price. Nests are typically granted to employees at their current market value and are subject to taxation when exercised. 2. Incentive Stock Options (SOS): SOS are another type of stock option granted to employees, primarily for tax benefits. They are subject to specific requirements set by the Internal Revenue Service (IRS) and must be granted at or above the stock's market value. Employees may incur favorable tax treatment upon exercise and may be eligible for long-term capital gains tax rates upon sale of the stock. 3. Restricted Stock Units (RSS): RSS are not stock options but rather units that represent the right to receive company stock at a future date. They are granted to employees and generally vest over a predetermined period. Once the RSS vest, employees receive the underlying shares. RSS offers a simplified approach by avoiding the need to determine the exercise price. 4. Performance Stock Units (Plus): Plus are similar to RSS but are granted based on performance criteria. They are designed to reward employees for achieving specific performance goals, such as revenue targets or earnings per share. Once the performance goals are met, Plus convert into shares of company stock. It is important to note that the North Carolina Stock Option Plan of WSFS Financial Corporation is subject to specific terms and conditions outlined in the plan documents. Employees and executives should review the plan details and consult with their financial advisors to fully understand the implications and benefits of participating in the program.