Nebraska 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 Nebraska Stock Option Plan — Detailed Description of WSFS Financial Corporation's Equity Compensation Program The Nebraska Stock Option Plan is an equity compensation program offered by WSFS Financial Corporation, a leading financial services company based in Wilmington, Delaware. With the aim of attracting, retaining, and motivating talented employees, this stock option plan provides employees with the opportunity to purchase shares of the company's common stock. Under the Nebraska Stock Option Plan, eligible employees are granted stock options that allow them to buy a specific number of shares at a predetermined price, known as the exercise price. These options are typically granted at the discretion of the company's board of directors or a designated committee. One of the key benefits of participating in this stock option plan is that it enables employees to share in the future growth and success of WSFS Financial Corporation. As the company prospers, the value of the stock options can increase, providing employees with a potential financial gain. There are several types of Nebraska Stock Option Plan options offered by WSFS Financial Corporation. These may include: 1. Incentive Stock Options (SOS): These stock options are granted with certain tax advantages for the employee. SOS typically have specific requirements to qualify, such as a minimum holding period before the shares can be sold without incurring additional taxes. 2. Non-Qualified Stock Options (SOS): Unlike SOS, SOS do not offer the same tax advantages and may be offered to a broader range of employees. SOS provide employees with the opportunity to purchase shares at a predetermined price, but the spread between the exercise price and the fair market value of the shares at the time of exercise is subject to ordinary income tax. 3. Restricted Stock Units (RSS): In addition to stock options, WSFS Financial Corporation may also offer RSS as part of its Nebraska Stock Option Plan. RSS represents a promise to deliver shares in the future, typically subject to certain vesting conditions. Once the RSS vest, employees receive the equivalent shares of WSFS Financial Corporation's common stock. It's important to note that the specific terms and conditions of the Nebraska Stock Option Plan, including the number of options granted, vesting schedules, exercise prices, and other eligibility criteria, may vary depending on an employee's position, level, and performance within the company. WSFS Financial Corporation values its employees and understands the importance of aligning their success with that of the company. Through the Nebraska Stock Option Plan, employees have the opportunity to become shareholders, fostering a sense of ownership, loyalty, and dedication toward achieving the company's strategic objectives.

Nebraska Stock Option Plan — Detailed Description of WSFS Financial Corporation's Equity Compensation Program The Nebraska Stock Option Plan is an equity compensation program offered by WSFS Financial Corporation, a leading financial services company based in Wilmington, Delaware. With the aim of attracting, retaining, and motivating talented employees, this stock option plan provides employees with the opportunity to purchase shares of the company's common stock. Under the Nebraska Stock Option Plan, eligible employees are granted stock options that allow them to buy a specific number of shares at a predetermined price, known as the exercise price. These options are typically granted at the discretion of the company's board of directors or a designated committee. One of the key benefits of participating in this stock option plan is that it enables employees to share in the future growth and success of WSFS Financial Corporation. As the company prospers, the value of the stock options can increase, providing employees with a potential financial gain. There are several types of Nebraska Stock Option Plan options offered by WSFS Financial Corporation. These may include: 1. Incentive Stock Options (SOS): These stock options are granted with certain tax advantages for the employee. SOS typically have specific requirements to qualify, such as a minimum holding period before the shares can be sold without incurring additional taxes. 2. Non-Qualified Stock Options (SOS): Unlike SOS, SOS do not offer the same tax advantages and may be offered to a broader range of employees. SOS provide employees with the opportunity to purchase shares at a predetermined price, but the spread between the exercise price and the fair market value of the shares at the time of exercise is subject to ordinary income tax. 3. Restricted Stock Units (RSS): In addition to stock options, WSFS Financial Corporation may also offer RSS as part of its Nebraska Stock Option Plan. RSS represents a promise to deliver shares in the future, typically subject to certain vesting conditions. Once the RSS vest, employees receive the equivalent shares of WSFS Financial Corporation's common stock. It's important to note that the specific terms and conditions of the Nebraska Stock Option Plan, including the number of options granted, vesting schedules, exercise prices, and other eligibility criteria, may vary depending on an employee's position, level, and performance within the company. WSFS Financial Corporation values its employees and understands the importance of aligning their success with that of the company. Through the Nebraska Stock Option Plan, employees have the opportunity to become shareholders, fostering a sense of ownership, loyalty, and dedication toward achieving the company's strategic objectives.