Cook Illinois Stock Option Plan of WSFS Financial Corporation

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Cook
• 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 Cook Illinois Stock Option Plan is a comprehensive employee benefit program offered by WSFS Financial Corporation. This plan allows eligible employees to purchase company stock at a predetermined price, referred to as the exercise price. It aims to motivate and reward employees by giving them an opportunity to share in the company's growth and success through stock ownership. Under the Cook Illinois Stock Option Plan, employees are granted the right to purchase a specific number of shares within a specified period. This period is known as the vesting period, during which the employee must fulfill certain conditions, typically a predetermined length of employment, to be eligible for the stock options. Once the vesting requirements are met, employees can exercise their options by buying shares at the predetermined exercise price. The Cook Illinois Stock Option Plan is designed to align the interests of employees with those of the corporation and its shareholders. By owning company stock, employees gain a stake in the company's performance, fostering a sense of loyalty and commitment. This plan promotes teamwork, boosts employee morale, and encourages a long-term perspective among participants. WSFS Financial Corporation may offer different types of stock options under the Cook Illinois Stock Option Plan, including: 1. Non-Qualified Stock Options (SOS): These options are the most common type offered and allow employees to purchase company stock at a predetermined price. SOS are subject to taxation 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 another type of stock option that typically offers tax advantages to employees. If certain requirements are met, such as holding the shares for a specific period, employees may be eligible for more favorable tax treatment upon exercise and sale of the stock. 3. Restricted Stock Units (RSS): RSS are a form of stock compensation that represents the right to receive shares of company stock at a future date, usually vesting over time. Unlike stock options, RSS do not require employees to purchase shares. Instead, they are granted shares outright once the vesting conditions are met. WSFS Financial Corporation's Cook Illinois Stock Option Plan aims to attract and retain top talent, provide employees with a sense of ownership, and incentivize long-term commitment to the company's success. This employee benefit program establishes a mutually beneficial relationship between the corporation and its workforce, fostering a culture of collaboration and shared goals.

The Cook Illinois Stock Option Plan is a comprehensive employee benefit program offered by WSFS Financial Corporation. This plan allows eligible employees to purchase company stock at a predetermined price, referred to as the exercise price. It aims to motivate and reward employees by giving them an opportunity to share in the company's growth and success through stock ownership. Under the Cook Illinois Stock Option Plan, employees are granted the right to purchase a specific number of shares within a specified period. This period is known as the vesting period, during which the employee must fulfill certain conditions, typically a predetermined length of employment, to be eligible for the stock options. Once the vesting requirements are met, employees can exercise their options by buying shares at the predetermined exercise price. The Cook Illinois Stock Option Plan is designed to align the interests of employees with those of the corporation and its shareholders. By owning company stock, employees gain a stake in the company's performance, fostering a sense of loyalty and commitment. This plan promotes teamwork, boosts employee morale, and encourages a long-term perspective among participants. WSFS Financial Corporation may offer different types of stock options under the Cook Illinois Stock Option Plan, including: 1. Non-Qualified Stock Options (SOS): These options are the most common type offered and allow employees to purchase company stock at a predetermined price. SOS are subject to taxation 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 another type of stock option that typically offers tax advantages to employees. If certain requirements are met, such as holding the shares for a specific period, employees may be eligible for more favorable tax treatment upon exercise and sale of the stock. 3. Restricted Stock Units (RSS): RSS are a form of stock compensation that represents the right to receive shares of company stock at a future date, usually vesting over time. Unlike stock options, RSS do not require employees to purchase shares. Instead, they are granted shares outright once the vesting conditions are met. WSFS Financial Corporation's Cook Illinois Stock Option Plan aims to attract and retain top talent, provide employees with a sense of ownership, and incentivize long-term commitment to the company's success. This employee benefit program establishes a mutually beneficial relationship between the corporation and its workforce, fostering a culture of collaboration and shared goals.