Hennepin Minnesota Stock Option Plan of WSFS Financial Corporation

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Hennepin
• 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 Hennepin Minnesota Stock Option Plan is a financial program offered by WSFS Financial Corporation, a reputable banking institution. This plan provides employees of the corporation, based in Hennepin, Minnesota, with an opportunity to purchase or receive stock options as a form of compensation. The Hennepin Minnesota Stock Option Plan aims to incentivize employees and align their interests with the success of WSFS Financial Corporation. By offering stock options, employees are given the right to purchase company stock at a predetermined price, usually known as the exercise price or grant price. This grant price is typically set at a discount to the market price of the stock on the date of the option grant, thereby giving employees the potential to benefit from future appreciation in the company's stock value. The Hennepin Minnesota Stock Option Plan may have different variations or types, tailored to meet the needs and objectives of specific employee groups within WSFS Financial Corporation. These variations can include: 1. Employee Stock Option Plans: These are typically available to all eligible employees of WSFS Financial Corporation, allowing them to purchase company stock at specified prices and within predetermined timeframes. 2. Performance-Based Stock Option Plans: These plans are designed to reward employees based on the performance of the company, such as achieving certain financial targets or meeting specific milestones. Employees may receive additional stock options if these performance goals are met or exceeded. 3. Executive Stock Option Plans: Executives or high-level management may be offered a separate stock option plan that reflects their elevated roles and responsibilities within the company. These plans often include larger grant amounts and additional benefits. 4. Restricted Stock Unit (RSU) Plans: In some cases, the Hennepin Minnesota Stock Option Plan may offer RSS as an alternative to traditional stock options. RSS represents a commitment to grant employees a specific number of shares upon vesting dates or achievement of specified conditions. It's important to note that the specific terms, eligibility, vesting schedules, and other details of the Hennepin Minnesota Stock Option Plan may vary based on the individual circumstance of each employee and WSFS Financial Corporation's policies. Employees are encouraged to review the plan documents or consult with HR or their financial advisors for more precise information.