Cuyahoga Ohio Stock Option Plan of WSFS Financial Corporation

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Cuyahoga
• 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 Cuyahoga Ohio Stock Option Plan is a key feature of WSFS Financial Corporation, a notable financial institution operating in the state of Ohio. This plan provides various options for WSFS employees to purchase company stocks at a predetermined price, empowering them to become stakeholders in the organization and benefit from its growth and success. With the Cuyahoga Ohio Stock Option Plan, WSFS Financial Corporation aims to incentivize and reward its employees by offering them a unique opportunity to own a portion of the company's stocks. Through this plan, employees are granted the right to purchase a specified number of shares at a set price, known as the exercise price. One of the primary goals of the Cuyahoga Ohio Stock Option Plan is to align the interests of WSFS employees with that of the company's shareholders. By giving employees the chance to acquire ownership in the form of company stocks, the plan motivates them to work towards the long-term growth and profitability of WSFS Financial Corporation. The Cuyahoga Ohio Stock Option Plan may consist of different types of stock option grants, each tailored to meet the varying needs and goals of WSFS Financial Corporation and its employees. These options include: 1. Non-Qualified Stock Options (SOS) — This type of option provides employees with the opportunity to purchase company stocks at a predetermined price, which is often the market price at the time of grant. SOS are subject to taxation on the difference between the exercise price and the fair market value at the time of exercise. 2. Incentive Stock Options (SOS) SOSOs are another type of stock option that offers potential tax advantages for employees. They allow employees to purchase company stocks at a predetermined price without incurring immediate tax liabilities. However, SOS must meet specific requirements outlined by the Internal Revenue Service (IRS), such as a maximum value limit and a holding period before selling the acquired stocks. 3. Restricted Stock Units (RSS) RSSUs represent a different form of equity compensation, wherein employees are awarded a specific number of units that convert into company stocks over time. These units often vest based on the completion of certain performance milestones or the employee's continued service with WSFS Financial Corporation. These different types of stock options under the Cuyahoga Ohio Stock Option Plan provide flexibility to WSFS Financial Corporation in designing an employee compensation program that aligns with its overall strategy and objectives. By instilling a sense of ownership and reward, this plan motivates employees to contribute to the company's success while creating a sense of financial well-being.

The Cuyahoga Ohio Stock Option Plan is a key feature of WSFS Financial Corporation, a notable financial institution operating in the state of Ohio. This plan provides various options for WSFS employees to purchase company stocks at a predetermined price, empowering them to become stakeholders in the organization and benefit from its growth and success. With the Cuyahoga Ohio Stock Option Plan, WSFS Financial Corporation aims to incentivize and reward its employees by offering them a unique opportunity to own a portion of the company's stocks. Through this plan, employees are granted the right to purchase a specified number of shares at a set price, known as the exercise price. One of the primary goals of the Cuyahoga Ohio Stock Option Plan is to align the interests of WSFS employees with that of the company's shareholders. By giving employees the chance to acquire ownership in the form of company stocks, the plan motivates them to work towards the long-term growth and profitability of WSFS Financial Corporation. The Cuyahoga Ohio Stock Option Plan may consist of different types of stock option grants, each tailored to meet the varying needs and goals of WSFS Financial Corporation and its employees. These options include: 1. Non-Qualified Stock Options (SOS) — This type of option provides employees with the opportunity to purchase company stocks at a predetermined price, which is often the market price at the time of grant. SOS are subject to taxation on the difference between the exercise price and the fair market value at the time of exercise. 2. Incentive Stock Options (SOS) SOSOs are another type of stock option that offers potential tax advantages for employees. They allow employees to purchase company stocks at a predetermined price without incurring immediate tax liabilities. However, SOS must meet specific requirements outlined by the Internal Revenue Service (IRS), such as a maximum value limit and a holding period before selling the acquired stocks. 3. Restricted Stock Units (RSS) RSSUs represent a different form of equity compensation, wherein employees are awarded a specific number of units that convert into company stocks over time. These units often vest based on the completion of certain performance milestones or the employee's continued service with WSFS Financial Corporation. These different types of stock options under the Cuyahoga Ohio Stock Option Plan provide flexibility to WSFS Financial Corporation in designing an employee compensation program that aligns with its overall strategy and objectives. By instilling a sense of ownership and reward, this plan motivates employees to contribute to the company's success while creating a sense of financial well-being.