Broward Florida Stock Option Plan of WSFS Financial Corporation

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Broward
• 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 Broward Florida Stock Option Plan is a program offered by WSFS Financial Corporation, a leading financial institution serving Broward County in Florida. This plan allows WSFS employees to purchase company stock at a predetermined price, thereby providing them with an opportunity to share in the company's success. The Broward Florida Stock Option Plan is structured to incentivize employees and align their interests with the long-term growth of WSFS Financial Corporation. By offering stock options, the company enables its employees to acquire a stake in the company, fostering a sense of ownership and motivation to contribute to its overall success. Under this plan, WSFS employees are granted the right to purchase a certain number of company shares at a specified price, known as the exercise price. The exercise price is typically set at a discount to the current market price of WSFS stock, making it financially advantageous for employees to participate in the program. There are several types of Broward Florida Stock Option Plan offered by WSFS Financial Corporation to its employees, including: 1. Non-Qualified Stock Option (NO): This type of stock option does not meet specific Internal Revenue Service (IRS) requirements and is subject to ordinary income tax upon exercise. Nests provide employees with flexibility in terms of timing their exercise and can be granted at the discretion of the company. 2. Incentive Stock Option (ISO): Unlike Nests, SOS are eligible for favorable tax treatment. Employees who exercise SOS may be subject to long-term capital gains tax rates if certain holding requirements are met. SOS are often granted with vesting schedules and can carry additional restrictions, providing long-term incentives for employees to stay with the company. 3. Restricted Stock Units (RSS): RSS represent a promise by the company to grant shares of WSFS stock to employees in the future. RSS typically come with a vesting period and specific performance conditions that need to be met before the shares are fully owned by the employee. Upon vesting, RSS convert to shares of WSFS stock. 4. Performance-Based Stock Options: WSFS Financial Corporation may offer performance-based stock options, which are tied to predefined performance metrics. These options provide employees with the opportunity to acquire shares based on the company's achievement of specific goals or targets. The Broward Florida Stock Option Plan of WSFS Financial Corporation serves as a valuable employee benefit, allowing eligible individuals to participate in the company's growth and potentially benefit financially from its success. It promotes employee retention, aligns their interests with shareholders', and fosters a sense of loyalty and commitment among the workforce.

The Broward Florida Stock Option Plan is a program offered by WSFS Financial Corporation, a leading financial institution serving Broward County in Florida. This plan allows WSFS employees to purchase company stock at a predetermined price, thereby providing them with an opportunity to share in the company's success. The Broward Florida Stock Option Plan is structured to incentivize employees and align their interests with the long-term growth of WSFS Financial Corporation. By offering stock options, the company enables its employees to acquire a stake in the company, fostering a sense of ownership and motivation to contribute to its overall success. Under this plan, WSFS employees are granted the right to purchase a certain number of company shares at a specified price, known as the exercise price. The exercise price is typically set at a discount to the current market price of WSFS stock, making it financially advantageous for employees to participate in the program. There are several types of Broward Florida Stock Option Plan offered by WSFS Financial Corporation to its employees, including: 1. Non-Qualified Stock Option (NO): This type of stock option does not meet specific Internal Revenue Service (IRS) requirements and is subject to ordinary income tax upon exercise. Nests provide employees with flexibility in terms of timing their exercise and can be granted at the discretion of the company. 2. Incentive Stock Option (ISO): Unlike Nests, SOS are eligible for favorable tax treatment. Employees who exercise SOS may be subject to long-term capital gains tax rates if certain holding requirements are met. SOS are often granted with vesting schedules and can carry additional restrictions, providing long-term incentives for employees to stay with the company. 3. Restricted Stock Units (RSS): RSS represent a promise by the company to grant shares of WSFS stock to employees in the future. RSS typically come with a vesting period and specific performance conditions that need to be met before the shares are fully owned by the employee. Upon vesting, RSS convert to shares of WSFS stock. 4. Performance-Based Stock Options: WSFS Financial Corporation may offer performance-based stock options, which are tied to predefined performance metrics. These options provide employees with the opportunity to acquire shares based on the company's achievement of specific goals or targets. The Broward Florida Stock Option Plan of WSFS Financial Corporation serves as a valuable employee benefit, allowing eligible individuals to participate in the company's growth and potentially benefit financially from its success. It promotes employee retention, aligns their interests with shareholders', and fosters a sense of loyalty and commitment among the workforce.