Bexar Texas Stock Option Plan of WSFS Financial Corporation

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Bexar
• 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 Bexar Texas Stock Option Plan of WSFS Financial Corporation is a comprehensive and beneficial program offered by the esteemed financial institution. Designed to attract and retain top talent, this incentive plan is a testament to the company's commitment to employee empowerment and long-term success. Under the Bexar Texas Stock Option Plan, eligible employees are granted the opportunity to purchase a specified number of shares of WSFS Financial Corporation's stock at a predetermined price within a defined timeframe. This allows employees to become shareholders of the company, aligning their interests with those of the shareholders and fostering a sense of ownership. One of the key advantages of this plan is its flexibility. WSFS Financial Corporation recognizes that different employees have varying needs and preferences, which is why the Bexar Texas Stock Option Plan offers both non-qualified stock options and incentive stock options. Non-qualified stock options provide employees with the flexibility to exercise their stock options at any time, regardless of certain limitations and requirements. This type of option offers greater freedom and can be utilized to optimize tax strategies. On the other hand, incentive stock options, also known as qualified stock options, come with specific tax advantages. To qualify for this option, employees must meet various criteria mandated by the Internal Revenue Service (IRS). Incentive stock options often have more favorable tax treatment, as long as certain holding period requirements are met. By granting employees the ability to participate in the Bexar Texas Stock Option Plan, WSFS Financial Corporation aims to create an inclusive and performance-driven work environment. This plan serves as a powerful tool for attracting and retaining top talent, fostering motivation, and aligning employees' interests with the long-term success of the company.

The Bexar Texas Stock Option Plan of WSFS Financial Corporation is a comprehensive and beneficial program offered by the esteemed financial institution. Designed to attract and retain top talent, this incentive plan is a testament to the company's commitment to employee empowerment and long-term success. Under the Bexar Texas Stock Option Plan, eligible employees are granted the opportunity to purchase a specified number of shares of WSFS Financial Corporation's stock at a predetermined price within a defined timeframe. This allows employees to become shareholders of the company, aligning their interests with those of the shareholders and fostering a sense of ownership. One of the key advantages of this plan is its flexibility. WSFS Financial Corporation recognizes that different employees have varying needs and preferences, which is why the Bexar Texas Stock Option Plan offers both non-qualified stock options and incentive stock options. Non-qualified stock options provide employees with the flexibility to exercise their stock options at any time, regardless of certain limitations and requirements. This type of option offers greater freedom and can be utilized to optimize tax strategies. On the other hand, incentive stock options, also known as qualified stock options, come with specific tax advantages. To qualify for this option, employees must meet various criteria mandated by the Internal Revenue Service (IRS). Incentive stock options often have more favorable tax treatment, as long as certain holding period requirements are met. By granting employees the ability to participate in the Bexar Texas Stock Option Plan, WSFS Financial Corporation aims to create an inclusive and performance-driven work environment. This plan serves as a powerful tool for attracting and retaining top talent, fostering motivation, and aligning employees' interests with the long-term success of the company.