The Pennsylvania Stock Option Plan of National Penn Ranchers, Inc. (now part of BBT Corporation) is a program designed to offer various stock option opportunities to eligible employees of the company. These stock options provide employees the right to purchase a specific number of company shares at a predetermined price within a predetermined time frame. The Pennsylvania Stock Option Plan acts as an incentive to attract and retain talented individuals within the organization, aligning their interests with the overall success of the company. Participants of the Pennsylvania Stock Option Plan can potentially benefit from the appreciation in the company's stock value, thereby providing an additional form of compensation beyond regular salary and benefits. There are different types of Pennsylvania Stock Option Plans that employees can participate in, primarily categorized into two key options: 1. Non-Qualified Stock Options (Nests): These stock options are more flexible but are subject to standard income tax rates upon exercise. They offer employees the opportunity to purchase company shares at a predetermined price (known as the strike price) within a specific timeframe. Employees who exercise Nests may incur tax liability on the difference between the strike price and the fair market value of the shares at the time of exercise. 2. Incentive Stock Options (SOS): These stock options enjoy certain tax advantages and are governed by specific rules outlined in the Internal Revenue Code. SOS are generally granted to key employees and must meet specific statutory requirements. Employees exercising SOS may be subject to favorable long-term capital gains tax rates on the difference between the strike price and the eventual sale price, provided certain holding period requirements are met. National Penn Ranchers, Inc. (now part of BBT Corporation) has implemented these various types of stock options under the Pennsylvania Stock Option Plan to motivate and reward its employees, fostering a sense of ownership and aligning their interests with the long-term success of the company. It is important to consult the specific terms and conditions of the plan for detailed information regarding eligibility, grant dates, vesting schedules, and other relevant aspects.
Pennsylvania Stock Option Plan of National Penn Bancshares, Inc.
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In August 2015, it was announced National Penn had been acquired by BB&T, which was expanding its presence in the mid-Atlantic states. National Penn CEO Scott Fainor said the deal was practical because BB&T could offer customers a wider range of products and services, such as deposit, loan and insurance offerings.
National Penn Bancshares Inc., which in 2007 bought Lehigh Valley bank KNBT and in 2014 opened a headquarters in center city Allentown, was itself purchased on Monday, ing to a news release. BB&T Corp., of Winston-Salem, North Carolina, bought National Penn for $1.8 billion.
WINSTON-SALEM, N.C., April 4, 2016 /PRNewswire/ -- BB&T Corporation (NYSE: BBT) today announced it has completed its acquisition of National Penn Bancshares, Inc., (NASDAQ: NPBC) effective April 1, 2016.