Wisconsin 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 Wisconsin Adoption of Stock Option Plan (ATOP) of WSFS Financial Corporation is a comprehensive equity incentive plan designed to attract, motivate, and retain talented employees of the organization. As an integral part of the compensation package, stock options provide employees with the opportunity to own a stake in the company, aligning their interests with those of the shareholders. This plan is governed by specific rules and regulations applicable in the state of Wisconsin and tailors to the needs of WSFS Financial Corporation. The Wisconsin ATOP offers various types of stock options, each with its own unique features and benefits. These options include: 1. Non-Qualified Stock Options (Nests): These are stock options that do not meet the necessary requirements to be considered incentive stock options (SOS). Nests are typically more flexible in terms of granting and exercising options, allowing employees to buy shares at a predetermined strike price. Upon exercise, employees may be subject to ordinary income tax on the difference between the exercise price and the fair market value of the stock. 2. Incentive Stock Options (SOS): Unlike Nests, SOS receive certain tax benefits under the Internal Revenue Code. Employees granted SOS must meet specific requirements, such as holding the stock for a certain period after exercise before selling it to qualify for favorable tax treatment. SOS can provide employees with potential capital gains tax advantages if certain conditions are met. 3. Restricted Stock Units (RSS): RSS are another form of equity compensation where employees receive shares of stock or their cash equivalent at a specified future date. RSS have become increasingly popular due to their simplicity and potential for long-term benefits. Unlike stock options, RSS do not require employees to purchase shares; instead, they receive the actual shares or their cash value once certain vesting conditions are met. 4. Performance Stock Units (Plus): Plus are an additional type of equity compensation that is typically subject to achievement of specific performance goals or objectives. Employees are granted Plus, which convert into shares of stock upon the fulfillment of predetermined corporate performance targets, such as revenue growth, profitability, or other metrics defined by the Board of Directors. Plus incentivize the alignment of employee efforts with the company's strategic objectives. The Wisconsin Adoption of Stock Option Plan ensures that WSFS Financial Corporation can effectively motivate and reward its employees with equity-based compensation. By providing a variety of stock option types, the plan allows employees to select the option that best suits their individual financial needs, risk appetite, and long-term investment goals. The plan also adheres to the legal and regulatory requirements of Wisconsin, ensuring that all aspects of the plan comply with the state's specific regulations. Overall, the Wisconsin Adoption of Stock Option Plan of WSFS Financial Corporation offers employees the opportunity to participate in the company's growth and success, aligning their interests with those of the shareholders while providing potential tax advantages and long-term financial benefits.

The Wisconsin Adoption of Stock Option Plan (ATOP) of WSFS Financial Corporation is a comprehensive equity incentive plan designed to attract, motivate, and retain talented employees of the organization. As an integral part of the compensation package, stock options provide employees with the opportunity to own a stake in the company, aligning their interests with those of the shareholders. This plan is governed by specific rules and regulations applicable in the state of Wisconsin and tailors to the needs of WSFS Financial Corporation. The Wisconsin ATOP offers various types of stock options, each with its own unique features and benefits. These options include: 1. Non-Qualified Stock Options (Nests): These are stock options that do not meet the necessary requirements to be considered incentive stock options (SOS). Nests are typically more flexible in terms of granting and exercising options, allowing employees to buy shares at a predetermined strike price. Upon exercise, employees may be subject to ordinary income tax on the difference between the exercise price and the fair market value of the stock. 2. Incentive Stock Options (SOS): Unlike Nests, SOS receive certain tax benefits under the Internal Revenue Code. Employees granted SOS must meet specific requirements, such as holding the stock for a certain period after exercise before selling it to qualify for favorable tax treatment. SOS can provide employees with potential capital gains tax advantages if certain conditions are met. 3. Restricted Stock Units (RSS): RSS are another form of equity compensation where employees receive shares of stock or their cash equivalent at a specified future date. RSS have become increasingly popular due to their simplicity and potential for long-term benefits. Unlike stock options, RSS do not require employees to purchase shares; instead, they receive the actual shares or their cash value once certain vesting conditions are met. 4. Performance Stock Units (Plus): Plus are an additional type of equity compensation that is typically subject to achievement of specific performance goals or objectives. Employees are granted Plus, which convert into shares of stock upon the fulfillment of predetermined corporate performance targets, such as revenue growth, profitability, or other metrics defined by the Board of Directors. Plus incentivize the alignment of employee efforts with the company's strategic objectives. The Wisconsin Adoption of Stock Option Plan ensures that WSFS Financial Corporation can effectively motivate and reward its employees with equity-based compensation. By providing a variety of stock option types, the plan allows employees to select the option that best suits their individual financial needs, risk appetite, and long-term investment goals. The plan also adheres to the legal and regulatory requirements of Wisconsin, ensuring that all aspects of the plan comply with the state's specific regulations. Overall, the Wisconsin Adoption of Stock Option Plan of WSFS Financial Corporation offers employees the opportunity to participate in the company's growth and success, aligning their interests with those of the shareholders while providing potential tax advantages and long-term financial benefits.