West Virginia 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 West Virginia Stock Option Plan of WSFS Financial Corporation is a comprehensive financial program designed to provide eligible employees with the opportunity to acquire ownership in the company through stock options. This plan offers a range of benefits and incentives for employees, promoting their engagement and aligning their interests with the company's long-term success. Under the West Virginia Stock Option Plan, eligible employees are granted the right to purchase a specific number of shares of WSFS Financial Corporation's stock at a predetermined price, known as the exercise price. This price is typically set at the fair market value of the stock on the date of grant, ensuring a fair and equitable opportunity for employees to participate in the plan. The stock options are subject to a vesting period, during which employees must fulfill certain criteria, such as completing a specified number of years with the company or achieving predetermined performance goals. Once the options are vested, employees can exercise their rights and purchase the shares. One notable feature of the West Virginia Stock Option Plan is its flexibility. It offers both non-qualified stock options (Nests) and incentive stock options (SOS). Non-qualified stock options provide employees with the ability to purchase shares at a predetermined price, and they are subject to ordinary income tax rates upon exercise. On the other hand, incentive stock options grant special tax advantages, as the gains from exercising these options are taxed at the capital gains rate when certain holding period requirements are met. Another aspect of the West Virginia Stock Option Plan is its inclusivity. It is open to employees at various levels within the company, including executives, managers, and even non-executive employees. This allows for widespread participation and ensures that employees at all levels have the opportunity to benefit from the plan's rewards. Participating in the West Virginia Stock Option Plan can be highly advantageous for employees. By acquiring company stock, employees become part owners and have the potential to share in the financial success of WSFS Financial Corporation. This fosters a sense of loyalty, commitment, and motivation, as employees know that their efforts directly contribute to the growth of the company and, in turn, their personal financial well-being. In conclusion, the West Virginia Stock Option Plan of WSFS Financial Corporation is a well-structured and flexible financial program that grants eligible employees the opportunity to acquire ownership in the company through stock options. This plan promotes employee engagement, aligns interests with the company's success, and offers various types of stock options to accommodate employees' specific needs and preferences.

The West Virginia Stock Option Plan of WSFS Financial Corporation is a comprehensive financial program designed to provide eligible employees with the opportunity to acquire ownership in the company through stock options. This plan offers a range of benefits and incentives for employees, promoting their engagement and aligning their interests with the company's long-term success. Under the West Virginia Stock Option Plan, eligible employees are granted the right to purchase a specific number of shares of WSFS Financial Corporation's stock at a predetermined price, known as the exercise price. This price is typically set at the fair market value of the stock on the date of grant, ensuring a fair and equitable opportunity for employees to participate in the plan. The stock options are subject to a vesting period, during which employees must fulfill certain criteria, such as completing a specified number of years with the company or achieving predetermined performance goals. Once the options are vested, employees can exercise their rights and purchase the shares. One notable feature of the West Virginia Stock Option Plan is its flexibility. It offers both non-qualified stock options (Nests) and incentive stock options (SOS). Non-qualified stock options provide employees with the ability to purchase shares at a predetermined price, and they are subject to ordinary income tax rates upon exercise. On the other hand, incentive stock options grant special tax advantages, as the gains from exercising these options are taxed at the capital gains rate when certain holding period requirements are met. Another aspect of the West Virginia Stock Option Plan is its inclusivity. It is open to employees at various levels within the company, including executives, managers, and even non-executive employees. This allows for widespread participation and ensures that employees at all levels have the opportunity to benefit from the plan's rewards. Participating in the West Virginia Stock Option Plan can be highly advantageous for employees. By acquiring company stock, employees become part owners and have the potential to share in the financial success of WSFS Financial Corporation. This fosters a sense of loyalty, commitment, and motivation, as employees know that their efforts directly contribute to the growth of the company and, in turn, their personal financial well-being. In conclusion, the West Virginia Stock Option Plan of WSFS Financial Corporation is a well-structured and flexible financial program that grants eligible employees the opportunity to acquire ownership in the company through stock options. This plan promotes employee engagement, aligns interests with the company's success, and offers various types of stock options to accommodate employees' specific needs and preferences.