Puerto Rico 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 Puerto Rico Stock Option Plan is a comprehensive employee benefit program offered by WSFS Financial Corporation, a leading financial services company. Designed to provide employees with an opportunity to own a stake in the company's future growth and success, this plan offers significant incentives and rewards. With a variety of options and features, the Puerto Rico Stock Option Plan aims to attract and retain top talent while aligning the interests of employees with those of the company. One of the primary types of Puerto Rico Stock Option Plans available to employees of WSFS Financial Corporation is the Non-Qualified Stock Option (NO) plan. This type of plan offers flexibility in granting stock options, allowing employees to purchase company stock at a predetermined price within a specified time frame. Nests provide employees with the potential for significant financial gain, as the value of the stock may increase over time. Another type of plan offered under the Puerto Rico Stock Option Plan is the Incentive Stock Option (ISO) plan. SOS differ from Nests in that they offer potential tax advantages for employees, as the profits realized from the exercise and sale of SOS may qualify for favorable tax treatment. This type of plan is often used to incentivize key employees and is subject to certain eligibility requirements as defined by the Internal Revenue Service. WSFS Financial Corporation also offers an Employee Stock Purchase Plan (ESPN) as part of the Puerto Rico Stock Option Plan. This plan allows eligible employees to contribute a portion of their salary to purchase company stock at a discounted price. The ESPN provides employees with a convenient and cost-effective way to acquire company stock, promoting a sense of ownership and accountability within the organization. Overall, the Puerto Rico Stock Option Plan of WSFS Financial Corporation serves as a powerful tool for attracting, motivating, and retaining talented individuals. By granting employees the opportunity to participate in the company's success, it fosters a culture of teamwork, loyalty, and long-term commitment. The various types of stock option plans, including Nests, SOS, and ESPN, provide employees with flexibility, tax advantages, and accessible pathways to financial growth. Through this comprehensive program, WSFS Financial Corporation demonstrates its commitment to building a strong workforce and nurturing a prosperous future.

The Puerto Rico Stock Option Plan is a comprehensive employee benefit program offered by WSFS Financial Corporation, a leading financial services company. Designed to provide employees with an opportunity to own a stake in the company's future growth and success, this plan offers significant incentives and rewards. With a variety of options and features, the Puerto Rico Stock Option Plan aims to attract and retain top talent while aligning the interests of employees with those of the company. One of the primary types of Puerto Rico Stock Option Plans available to employees of WSFS Financial Corporation is the Non-Qualified Stock Option (NO) plan. This type of plan offers flexibility in granting stock options, allowing employees to purchase company stock at a predetermined price within a specified time frame. Nests provide employees with the potential for significant financial gain, as the value of the stock may increase over time. Another type of plan offered under the Puerto Rico Stock Option Plan is the Incentive Stock Option (ISO) plan. SOS differ from Nests in that they offer potential tax advantages for employees, as the profits realized from the exercise and sale of SOS may qualify for favorable tax treatment. This type of plan is often used to incentivize key employees and is subject to certain eligibility requirements as defined by the Internal Revenue Service. WSFS Financial Corporation also offers an Employee Stock Purchase Plan (ESPN) as part of the Puerto Rico Stock Option Plan. This plan allows eligible employees to contribute a portion of their salary to purchase company stock at a discounted price. The ESPN provides employees with a convenient and cost-effective way to acquire company stock, promoting a sense of ownership and accountability within the organization. Overall, the Puerto Rico Stock Option Plan of WSFS Financial Corporation serves as a powerful tool for attracting, motivating, and retaining talented individuals. By granting employees the opportunity to participate in the company's success, it fosters a culture of teamwork, loyalty, and long-term commitment. The various types of stock option plans, including Nests, SOS, and ESPN, provide employees with flexibility, tax advantages, and accessible pathways to financial growth. Through this comprehensive program, WSFS Financial Corporation demonstrates its commitment to building a strong workforce and nurturing a prosperous future.