Alameda California Stock Option Plan of WSFS Financial Corporation

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Alameda
• 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 Alameda California Stock Option Plan offered by WSFS Financial Corporation is a comprehensive employee benefit program that provides eligible individuals with the opportunity to purchase company stocks at a predetermined price within a specified timeframe. This plan aims to incentivize employees, align their interests with the success of WSFS Financial Corporation, and reward their contributions to the company's growth. As part of this stock option plan, WSFS Financial Corporation offers different types of stock options to its employees. These options include: 1. Non-Qualified Stock Options (Nests): These options allow employees to buy shares at a predetermined price (the exercise price) within a set period, usually ten years. Nests are subject to income tax at the time of exercise, based on the difference between the exercise price and the fair market value of the stock. 2. Incentive Stock Options (SOS): SOS are another type of stock option granted to employees, typically with specific eligibility criteria. These options, when exercised, may qualify for favorable tax treatment, such as capital gains tax rates, subject to certain holding period and other requirements. 3. Restricted Stock Units (RSS): RSS are a variation of stock options that represent the right to receive shares of WSFS Financial Corporation stock upon the satisfaction of certain vesting conditions. Unlike stock options, RSS do not require an employee to purchase shares. Instead, they are granted outright, and their value is usually tied to the market price of the stock. 4. Performance-Based Stock Options: These stock options are granted based on specific performance targets set by WSFS Financial Corporation. Employees are rewarded with stock options if the company achieves predetermined milestones or meets certain financial goals. 5. Employee Stock Purchase Plans (ESPN): Although not strictly a stock option plan, ESPN are commonly offered alongside stock option plans. ESPN enable employees to contribute a portion of their paycheck to purchase WSFS Financial Corporation stock at a discounted price, typically set at a fixed percentage below the fair market value. The Alameda California Stock Option Plan of WSFS Financial Corporation aims to attract and retain top talent by offering employees an opportunity to become shareholders in the company. By aligning the employees' interests with the success of WSFS Financial Corporation, the plan serves as a powerful motivator and helps foster a culture of ownership within the organization.

The Alameda California Stock Option Plan offered by WSFS Financial Corporation is a comprehensive employee benefit program that provides eligible individuals with the opportunity to purchase company stocks at a predetermined price within a specified timeframe. This plan aims to incentivize employees, align their interests with the success of WSFS Financial Corporation, and reward their contributions to the company's growth. As part of this stock option plan, WSFS Financial Corporation offers different types of stock options to its employees. These options include: 1. Non-Qualified Stock Options (Nests): These options allow employees to buy shares at a predetermined price (the exercise price) within a set period, usually ten years. Nests are subject to income tax at the time of exercise, based on the difference between the exercise price and the fair market value of the stock. 2. Incentive Stock Options (SOS): SOS are another type of stock option granted to employees, typically with specific eligibility criteria. These options, when exercised, may qualify for favorable tax treatment, such as capital gains tax rates, subject to certain holding period and other requirements. 3. Restricted Stock Units (RSS): RSS are a variation of stock options that represent the right to receive shares of WSFS Financial Corporation stock upon the satisfaction of certain vesting conditions. Unlike stock options, RSS do not require an employee to purchase shares. Instead, they are granted outright, and their value is usually tied to the market price of the stock. 4. Performance-Based Stock Options: These stock options are granted based on specific performance targets set by WSFS Financial Corporation. Employees are rewarded with stock options if the company achieves predetermined milestones or meets certain financial goals. 5. Employee Stock Purchase Plans (ESPN): Although not strictly a stock option plan, ESPN are commonly offered alongside stock option plans. ESPN enable employees to contribute a portion of their paycheck to purchase WSFS Financial Corporation stock at a discounted price, typically set at a fixed percentage below the fair market value. The Alameda California Stock Option Plan of WSFS Financial Corporation aims to attract and retain top talent by offering employees an opportunity to become shareholders in the company. By aligning the employees' interests with the success of WSFS Financial Corporation, the plan serves as a powerful motivator and helps foster a culture of ownership within the organization.