Chicago Illinois Stock Option Plan of WSFS Financial Corporation

• Category: Corporations - Public - Stock Options
• State: Multi-State
• City: Chicago
• 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 Chicago Illinois Stock Option Plan of WSFS Financial Corporation is a comprehensive employee benefit program designed to incentivize and reward employees through the issuance of stock options. As an American financial institution, WSFS Financial Corporation operates in the bustling city of Chicago, Illinois. The Chicago Illinois Stock Option Plan is structured to provide employees of WSFS Financial Corporation with the opportunity to acquire ownership in the company by granting them options to purchase a certain number of shares at a predetermined price, known as the exercise price or strike price. These stock options are typically granted as a part of an employee's compensation package and serve as a valuable tool for attracting and retaining top talent. There are multiple types of stock option plans available under the Chicago Illinois Stock Option Plan of WSFS Financial Corporation, including: 1. Non-Qualified Stock Options (Nests): These are the most common type of stock option granted to employees. Nests offer flexibility in terms of granting, vesting, and exercise. Employees receiving Nests are taxed upon exercise based on the difference between the exercise price and the fair market value of the stock. 2. Incentive Stock Options (SOS): SOS are designed to provide certain tax advantages to employees. To qualify for these tax benefits, strict guidelines set by the Internal Revenue Service must be followed. SOS have specific vesting requirements and can only be granted to employees, not consultants or non-employee directors. 3. Restricted Stock Units (RSS): While not technically stock options, RSS are another form of equity compensation commonly offered under the Chicago Illinois Stock Option Plan. RSS represents a promise to distribute shares of stock to employees at a future date, generally subject to vesting requirements. 4. Employee Stock Purchase Plan (ESPN): An ESPN is a voluntary program that allows eligible employees to purchase shares of WSFS Financial Corporation's stock at a discounted price. Contributions to the ESPN are made through payroll deductions, and the shares are typically purchased at a predetermined price. 5. Performance-Based Stock Options: These stock options are granted based on predetermined performance criteria, such as achieving specific financial metrics or meeting certain growth targets. Performance-based stock options align employee incentives with the company's strategic objectives. It is essential for employees to review the specific terms and conditions of the Chicago Illinois Stock Option Plan to understand the rules governing their individual grants, including vesting schedules, exercise periods, and potential tax implications. The plan is periodically reviewed and updated to align with legal regulations and industry best practices, ensuring that it remains an attractive and competitive offering for WSFS Financial Corporation employees in Chicago, Illinois.

Chicago Illinois Stock Option Plan of WSFS Financial Corporation is a comprehensive employee benefit program designed to incentivize and reward employees through the issuance of stock options. As an American financial institution, WSFS Financial Corporation operates in the bustling city of Chicago, Illinois. The Chicago Illinois Stock Option Plan is structured to provide employees of WSFS Financial Corporation with the opportunity to acquire ownership in the company by granting them options to purchase a certain number of shares at a predetermined price, known as the exercise price or strike price. These stock options are typically granted as a part of an employee's compensation package and serve as a valuable tool for attracting and retaining top talent. There are multiple types of stock option plans available under the Chicago Illinois Stock Option Plan of WSFS Financial Corporation, including: 1. Non-Qualified Stock Options (Nests): These are the most common type of stock option granted to employees. Nests offer flexibility in terms of granting, vesting, and exercise. Employees receiving Nests are taxed upon exercise based on the difference between the exercise price and the fair market value of the stock. 2. Incentive Stock Options (SOS): SOS are designed to provide certain tax advantages to employees. To qualify for these tax benefits, strict guidelines set by the Internal Revenue Service must be followed. SOS have specific vesting requirements and can only be granted to employees, not consultants or non-employee directors. 3. Restricted Stock Units (RSS): While not technically stock options, RSS are another form of equity compensation commonly offered under the Chicago Illinois Stock Option Plan. RSS represents a promise to distribute shares of stock to employees at a future date, generally subject to vesting requirements. 4. Employee Stock Purchase Plan (ESPN): An ESPN is a voluntary program that allows eligible employees to purchase shares of WSFS Financial Corporation's stock at a discounted price. Contributions to the ESPN are made through payroll deductions, and the shares are typically purchased at a predetermined price. 5. Performance-Based Stock Options: These stock options are granted based on predetermined performance criteria, such as achieving specific financial metrics or meeting certain growth targets. Performance-based stock options align employee incentives with the company's strategic objectives. It is essential for employees to review the specific terms and conditions of the Chicago Illinois Stock Option Plan to understand the rules governing their individual grants, including vesting schedules, exercise periods, and potential tax implications. The plan is periodically reviewed and updated to align with legal regulations and industry best practices, ensuring that it remains an attractive and competitive offering for WSFS Financial Corporation employees in Chicago, Illinois.