Harris Texas Stock Option Plan of WSFS Financial Corporation

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Harris
• 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 Harris Texas Stock Option Plan is an employee benefit program offered by WSFS Financial Corporation that allows employees to purchase company stock at a predetermined price within a specific timeframe. This plan serves as a tool for attracting and retaining talented individuals, linking their financial success to the company's overall performance and share value. Under the Harris Texas Stock Option Plan, participants are granted the opportunity to buy a specified number of company shares, known as stock options, at a predetermined "exercise" or purchase price. These options usually have a vesting period, after which employees can exercise them and become actual shareholders by acquiring company stock. One of the key benefits of the Harris Texas Stock Option Plan is that it provides employees with a sense of ownership and encourages them to align their interests with the corporation's long-term success. By offering employees the right to purchase company stock, WSFS Financial Corporation aims to motivate and reward employees for their contributions to the company's growth and profitability. The Harris Texas Stock Option Plan may have different variations or types based on various factors such as employee group, job level, or length of service. Some typical types of stock options that may be included in the plan are: 1. Non-Qualified Stock Options (SOS) — These are stock options that do not meet specific tax requirements established by the Internal Revenue Service (IRS). SOS are more flexible but may be subject to higher tax rates upon exercise. 2. Incentive Stock Options (SOS) SOSOs are designed to incentivize key employees and provide potential tax advantages. They must comply with strict IRS rules regarding eligibility, exercise price, and holding periods. 3. Restricted Stock Units (RSS) RSSUs are not options but instead represent a right to receive company stock at a future date. RSS have vesting periods and are usually granted based on performance or time-based conditions. 4. Performance Stock Options — These options are tied to predetermined performance metrics set by the company, such as revenue targets, earnings per share, or stock price appreciation. Once the performance thresholds are met, employees can exercise these options. It is important to note that the specific details, eligibility criteria, and terms of the Harris Texas Stock Option Plan, including the variations mentioned above, may vary from company to company and are subject to the plan's documentation and legal requirements. WSFS Financial Corporation may provide additional information regarding its stock option plan through its employee benefits portal or by consulting the plan's official documents.

The Harris Texas Stock Option Plan is an employee benefit program offered by WSFS Financial Corporation that allows employees to purchase company stock at a predetermined price within a specific timeframe. This plan serves as a tool for attracting and retaining talented individuals, linking their financial success to the company's overall performance and share value. Under the Harris Texas Stock Option Plan, participants are granted the opportunity to buy a specified number of company shares, known as stock options, at a predetermined "exercise" or purchase price. These options usually have a vesting period, after which employees can exercise them and become actual shareholders by acquiring company stock. One of the key benefits of the Harris Texas Stock Option Plan is that it provides employees with a sense of ownership and encourages them to align their interests with the corporation's long-term success. By offering employees the right to purchase company stock, WSFS Financial Corporation aims to motivate and reward employees for their contributions to the company's growth and profitability. The Harris Texas Stock Option Plan may have different variations or types based on various factors such as employee group, job level, or length of service. Some typical types of stock options that may be included in the plan are: 1. Non-Qualified Stock Options (SOS) — These are stock options that do not meet specific tax requirements established by the Internal Revenue Service (IRS). SOS are more flexible but may be subject to higher tax rates upon exercise. 2. Incentive Stock Options (SOS) SOSOs are designed to incentivize key employees and provide potential tax advantages. They must comply with strict IRS rules regarding eligibility, exercise price, and holding periods. 3. Restricted Stock Units (RSS) RSSUs are not options but instead represent a right to receive company stock at a future date. RSS have vesting periods and are usually granted based on performance or time-based conditions. 4. Performance Stock Options — These options are tied to predetermined performance metrics set by the company, such as revenue targets, earnings per share, or stock price appreciation. Once the performance thresholds are met, employees can exercise these options. It is important to note that the specific details, eligibility criteria, and terms of the Harris Texas Stock Option Plan, including the variations mentioned above, may vary from company to company and are subject to the plan's documentation and legal requirements. WSFS Financial Corporation may provide additional information regarding its stock option plan through its employee benefits portal or by consulting the plan's official documents.