South Dakota 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 South Dakota Stock Option Plan of WSFS Financial Corporation is a comprehensive program designed to provide employees with an opportunity to acquire ownership in the company. This plan is a key component of WSFS Financial Corporation's employee compensation and retention strategy. By offering stock options, WSFS aims to align the interests of employees with those of the company, thereby driving performance, enhancing employee motivation, and fostering long-term loyalty. Under the South Dakota Stock Option Plan, eligible employees are granted the right to purchase a specified number of shares of the company's stock at a predetermined price, called the grant price or exercise price. These stock options are typically subject to a vesting period, during which employees need to fulfill certain criteria, such as remaining with the company for a specified period or achieving specific performance targets, in order to exercise their options. There are different types of stock option plans within the South Dakota Stock Option Plan of WSFS Financial Corporation, including: 1. Non-Qualified Stock Options (Nests): These options are more common and are not eligible for special tax treatment. Employees may exercise Nests at any time after they have vested, regardless of the company's financial or stock performance. 2. Incentive Stock Options (SOS): SOS are a type of stock option plan that may have favorable tax treatment, as they are subject to specific rules outlined in the Internal Revenue Code. To qualify for tax advantages, ISO holders must meet specific criteria, including holding the shares for a certain period after exercise. 3. Restricted Stock Units (RSS): Although not technically stock options, RSS are often included within the South Dakota Stock Option Plan. Instead of granting employees the option to purchase stock, RSS represent an actual grant of shares that are subject to vesting. Upon vesting, RSS are converted into actual shares of the company's stock. 4. Performance Stock Options: These stock options are granted to employees based on their achievement of certain pre-established performance targets. Performance stock options often provide additional motivation for employees to meet and exceed company goals, as they serve as a direct link between performance and financial rewards. It is important to note that the specific details and terms of each type of stock option plan may vary depending on individual circumstances and the company's policies. Employees are encouraged to carefully review the plan documents and consult with a financial advisor or human resources representative for personalized guidance.

The South Dakota Stock Option Plan of WSFS Financial Corporation is a comprehensive program designed to provide employees with an opportunity to acquire ownership in the company. This plan is a key component of WSFS Financial Corporation's employee compensation and retention strategy. By offering stock options, WSFS aims to align the interests of employees with those of the company, thereby driving performance, enhancing employee motivation, and fostering long-term loyalty. Under the South Dakota Stock Option Plan, eligible employees are granted the right to purchase a specified number of shares of the company's stock at a predetermined price, called the grant price or exercise price. These stock options are typically subject to a vesting period, during which employees need to fulfill certain criteria, such as remaining with the company for a specified period or achieving specific performance targets, in order to exercise their options. There are different types of stock option plans within the South Dakota Stock Option Plan of WSFS Financial Corporation, including: 1. Non-Qualified Stock Options (Nests): These options are more common and are not eligible for special tax treatment. Employees may exercise Nests at any time after they have vested, regardless of the company's financial or stock performance. 2. Incentive Stock Options (SOS): SOS are a type of stock option plan that may have favorable tax treatment, as they are subject to specific rules outlined in the Internal Revenue Code. To qualify for tax advantages, ISO holders must meet specific criteria, including holding the shares for a certain period after exercise. 3. Restricted Stock Units (RSS): Although not technically stock options, RSS are often included within the South Dakota Stock Option Plan. Instead of granting employees the option to purchase stock, RSS represent an actual grant of shares that are subject to vesting. Upon vesting, RSS are converted into actual shares of the company's stock. 4. Performance Stock Options: These stock options are granted to employees based on their achievement of certain pre-established performance targets. Performance stock options often provide additional motivation for employees to meet and exceed company goals, as they serve as a direct link between performance and financial rewards. It is important to note that the specific details and terms of each type of stock option plan may vary depending on individual circumstances and the company's policies. Employees are encouraged to carefully review the plan documents and consult with a financial advisor or human resources representative for personalized guidance.