Virginia Adoption of Stock Option Plan of WSFS Financial Corporation

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-351I-NE
• Format: Word; Rich Text

Description

This is a multi-state form covering the subject matter of the title. The Virginia Adoption of Stock Option Plan of WSFS Financial Corporation is a comprehensive program designed to provide eligible employees of the company with the opportunity to acquire and own stock in the corporation. This plan offers employees the benefit of purchasing company stock at a predetermined price within a specified period. Under the Virginia Adoption of Stock Option Plan, employees are granted stock options as a form of compensation. These stock options carry the right to purchase a certain number of shares of WSFS Financial Corporation stock at a predetermined price, often referred to as the exercise price or strike price. The exercise price is generally set at the fair market value of the stock on the date the option is granted. The primary purpose of the Virginia Adoption of Stock Option Plan is to align the interests of the employees with those of the shareholders. By offering stock options, the plan aims to incentivize employees to contribute to the growth and success of the company, ultimately increasing shareholder value. This encourages a sense of ownership and long-term commitment among employees. There are various types of stock options that may be included in the Virginia Adoption of Stock Option Plan. These may include: 1. Non-Qualified Stock Options (Nests): These stock options do not meet the requirements for special tax treatment. When an employee exercises their options, they are subject to ordinary income tax on the difference between the exercise price and the fair market value of the stock at the time of exercise. 2. Incentive Stock Options (SOS): These stock options are eligible for certain tax benefits. If specific conditions are met, such as holding the stock options for a specified period, employees can potentially qualify for more favorable tax treatment upon exercise and sale of the stock. 3. Restricted Stock Units (RSS): While not technically options, RSS are another form of equity-based compensation. RSS represents a right to receive shares of stock at a future date, usually subject to certain vesting conditions or performance-based metrics. It is important to note that the terms and conditions of the Virginia Adoption of Stock Option Plan may vary depending on the specific details outlined in the plan documents. Employees are encouraged to carefully review these documents to fully understand the rights, limitations, and potential benefits associated with the stock option grants. In summary, the Virginia Adoption of Stock Option Plan of WSFS Financial Corporation is a valuable compensation program that provides employees with an opportunity to share in the success of the company. By offering stock options, WSFS Financial Corporation aims to motivate and retain talented employees while aligning their interests with the overall success of the corporation. Different types of stock options, such as non-qualified options, incentive stock options, and restricted stock units, may be included in this plan, each with its own set of tax implications and conditions.

The Virginia Adoption of Stock Option Plan of WSFS Financial Corporation is a comprehensive program designed to provide eligible employees of the company with the opportunity to acquire and own stock in the corporation. This plan offers employees the benefit of purchasing company stock at a predetermined price within a specified period. Under the Virginia Adoption of Stock Option Plan, employees are granted stock options as a form of compensation. These stock options carry the right to purchase a certain number of shares of WSFS Financial Corporation stock at a predetermined price, often referred to as the exercise price or strike price. The exercise price is generally set at the fair market value of the stock on the date the option is granted. The primary purpose of the Virginia Adoption of Stock Option Plan is to align the interests of the employees with those of the shareholders. By offering stock options, the plan aims to incentivize employees to contribute to the growth and success of the company, ultimately increasing shareholder value. This encourages a sense of ownership and long-term commitment among employees. There are various types of stock options that may be included in the Virginia Adoption of Stock Option Plan. These may include: 1. Non-Qualified Stock Options (Nests): These stock options do not meet the requirements for special tax treatment. When an employee exercises their options, they are subject to ordinary income tax on the difference between the exercise price and the fair market value of the stock at the time of exercise. 2. Incentive Stock Options (SOS): These stock options are eligible for certain tax benefits. If specific conditions are met, such as holding the stock options for a specified period, employees can potentially qualify for more favorable tax treatment upon exercise and sale of the stock. 3. Restricted Stock Units (RSS): While not technically options, RSS are another form of equity-based compensation. RSS represents a right to receive shares of stock at a future date, usually subject to certain vesting conditions or performance-based metrics. It is important to note that the terms and conditions of the Virginia Adoption of Stock Option Plan may vary depending on the specific details outlined in the plan documents. Employees are encouraged to carefully review these documents to fully understand the rights, limitations, and potential benefits associated with the stock option grants. In summary, the Virginia Adoption of Stock Option Plan of WSFS Financial Corporation is a valuable compensation program that provides employees with an opportunity to share in the success of the company. By offering stock options, WSFS Financial Corporation aims to motivate and retain talented employees while aligning their interests with the overall success of the corporation. Different types of stock options, such as non-qualified options, incentive stock options, and restricted stock units, may be included in this plan, each with its own set of tax implications and conditions.