Washington 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 Washington Stock Option Plan of WSFS Financial Corporation is a comprehensive employee compensation program designed to provide incentives and rewards to its employees through the granting of stock options. As an established financial institution based in Washington, D.C., WSFS Financial Corporation offers several types of stock option plans to its eligible employees. One of the prominent plans under the Washington Stock Option Plan is the Incentive Stock Option (ISO) plan. SOS are options granted to employees that offer certain tax advantages. These options are generally granted at a specific price, also known as the exercise price, which allows employees to purchase a predetermined number of company shares within a specified time period. Another type of stock option plan offered by WSFS Financial Corporation is the Non-Qualified Stock Option (NO) plan. Nests operate similarly to SOS but do not qualify for the same tax advantages. Under this plan, employees have the opportunity to purchase company shares at a predetermined price over a specific time period. Nests offer flexibility in terms of exercise price and expiration date, making them a valuable component of the overall compensation package. WSFS Financial Corporation understands the importance of empowering its employees and fostering a sense of ownership. Therefore, they also offer an Employee Stock Purchase Plan (ESPN) as part of the Washington Stock Option Plan. The ESPN allows eligible employees to purchase company shares at a discounted price, usually through payroll deductions. This program encourages employees to invest in the company's growth and success, further aligning their interests with the organization. The key objective of the Washington Stock Option Plan is to attract and retain talented employees and motivate them to contribute towards the long-term success of WSFS Financial Corporation. By offering various types of stock option plans, the company provides employees with financial incentives that align with shareholders' interests. Employees who participate in the Washington Stock Option Plan have the opportunity to benefit from the appreciation in the company's stock value over time. These stock options serve as a means of reward, recognition, and a reflection of WSFS Financial Corporation's commitment to fostering a culture of ownership and excellence. Overall, the Washington Stock Option Plan of WSFS Financial Corporation encompasses different types of stock option plans like Incentive Stock Options (SOS), Non-Qualified Stock Options (Nests), and the Employee Stock Purchase Plan (ESPN). These plans collectively enable the company to strengthen employee engagement, retention, and incentivize exceptional performance, fostering a collaborative and high-performing work environment.

The Washington Stock Option Plan of WSFS Financial Corporation is a comprehensive employee compensation program designed to provide incentives and rewards to its employees through the granting of stock options. As an established financial institution based in Washington, D.C., WSFS Financial Corporation offers several types of stock option plans to its eligible employees. One of the prominent plans under the Washington Stock Option Plan is the Incentive Stock Option (ISO) plan. SOS are options granted to employees that offer certain tax advantages. These options are generally granted at a specific price, also known as the exercise price, which allows employees to purchase a predetermined number of company shares within a specified time period. Another type of stock option plan offered by WSFS Financial Corporation is the Non-Qualified Stock Option (NO) plan. Nests operate similarly to SOS but do not qualify for the same tax advantages. Under this plan, employees have the opportunity to purchase company shares at a predetermined price over a specific time period. Nests offer flexibility in terms of exercise price and expiration date, making them a valuable component of the overall compensation package. WSFS Financial Corporation understands the importance of empowering its employees and fostering a sense of ownership. Therefore, they also offer an Employee Stock Purchase Plan (ESPN) as part of the Washington Stock Option Plan. The ESPN allows eligible employees to purchase company shares at a discounted price, usually through payroll deductions. This program encourages employees to invest in the company's growth and success, further aligning their interests with the organization. The key objective of the Washington Stock Option Plan is to attract and retain talented employees and motivate them to contribute towards the long-term success of WSFS Financial Corporation. By offering various types of stock option plans, the company provides employees with financial incentives that align with shareholders' interests. Employees who participate in the Washington Stock Option Plan have the opportunity to benefit from the appreciation in the company's stock value over time. These stock options serve as a means of reward, recognition, and a reflection of WSFS Financial Corporation's commitment to fostering a culture of ownership and excellence. Overall, the Washington Stock Option Plan of WSFS Financial Corporation encompasses different types of stock option plans like Incentive Stock Options (SOS), Non-Qualified Stock Options (Nests), and the Employee Stock Purchase Plan (ESPN). These plans collectively enable the company to strengthen employee engagement, retention, and incentivize exceptional performance, fostering a collaborative and high-performing work environment.