Tennessee 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 Tennessee Stock Option Plan offered by WSFS Financial Corporation is a comprehensive program designed to provide attractive benefits to employees in the form of stock options. This plan allows employees of WSFS Financial Corporation based in Tennessee to purchase company shares at a predetermined price within a specified time period. The program is governed by specific guidelines, which aim to promote equity ownership and reward exceptional performance. Employees participating in the Tennessee Stock Option Plan are granted the opportunity to buy company stock at a predetermined exercise price, which is typically set at the fair market value of the stock on the grant date. This exercise price ensures that employees can acquire shares at a discounted rate, potentially resulting in significant gains if the stock price rises over time. The Tennessee Stock Option Plan of WSFS Financial Corporation may include various types of stock options, such as: 1. Incentive Stock Options (SOS): These options are exclusively granted to employees and have certain tax advantages. SOS must adhere to specific Internal Revenue Service (IRS) regulations, including holding periods and limitations on the number of shares that can be granted. 2. Non-Qualified Stock Options (Nests): Unlike SOS, Nests do not meet IRS requirements for favorable tax treatment. However, they provide greater flexibility in terms of eligibility and can be granted to both employees and non-employees, such as consultants or directors. 3. Performance-Based Stock Options: This type of stock option is granted based on the achievement of specific performance criteria, such as meeting or exceeding sales targets or financial goals. Performance-based stock options aim to align employee incentives with the company's overall performance. 4. Restricted Stock Units (RSS): While not strictly stock options, RSS are also part of many stock-based compensation plans. RSS represents a promise to deliver company shares to employees at a future date, usually vesting over a specific period. RSS are often subject to certain performance or time-based conditions. WSFS Financial Corporation's Tennessee Stock Option Plan is designed to attract and retain top talent, motivate employees to contribute to the company's long-term success, and align their interests with those of stockholders. The plan encourages a sense of ownership among employees, fostering a motivated and engaged workforce. Please note that the specific characteristics and availability of the Tennessee Stock Option Plan may vary over time and company policies. Employees are advised to consult the plan's official documentation and seek professional advice regarding their eligibility, tax implications, and any other related matters.

The Tennessee Stock Option Plan offered by WSFS Financial Corporation is a comprehensive program designed to provide attractive benefits to employees in the form of stock options. This plan allows employees of WSFS Financial Corporation based in Tennessee to purchase company shares at a predetermined price within a specified time period. The program is governed by specific guidelines, which aim to promote equity ownership and reward exceptional performance. Employees participating in the Tennessee Stock Option Plan are granted the opportunity to buy company stock at a predetermined exercise price, which is typically set at the fair market value of the stock on the grant date. This exercise price ensures that employees can acquire shares at a discounted rate, potentially resulting in significant gains if the stock price rises over time. The Tennessee Stock Option Plan of WSFS Financial Corporation may include various types of stock options, such as: 1. Incentive Stock Options (SOS): These options are exclusively granted to employees and have certain tax advantages. SOS must adhere to specific Internal Revenue Service (IRS) regulations, including holding periods and limitations on the number of shares that can be granted. 2. Non-Qualified Stock Options (Nests): Unlike SOS, Nests do not meet IRS requirements for favorable tax treatment. However, they provide greater flexibility in terms of eligibility and can be granted to both employees and non-employees, such as consultants or directors. 3. Performance-Based Stock Options: This type of stock option is granted based on the achievement of specific performance criteria, such as meeting or exceeding sales targets or financial goals. Performance-based stock options aim to align employee incentives with the company's overall performance. 4. Restricted Stock Units (RSS): While not strictly stock options, RSS are also part of many stock-based compensation plans. RSS represents a promise to deliver company shares to employees at a future date, usually vesting over a specific period. RSS are often subject to certain performance or time-based conditions. WSFS Financial Corporation's Tennessee Stock Option Plan is designed to attract and retain top talent, motivate employees to contribute to the company's long-term success, and align their interests with those of stockholders. The plan encourages a sense of ownership among employees, fostering a motivated and engaged workforce. Please note that the specific characteristics and availability of the Tennessee Stock Option Plan may vary over time and company policies. Employees are advised to consult the plan's official documentation and seek professional advice regarding their eligibility, tax implications, and any other related matters.