Hillsborough Florida Stock Option Plan of WSFS Financial Corporation

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Hillsborough
• 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 Hillsborough Florida Stock Option Plan is a comprehensive program designed by WSFS Financial Corporation to offer employees in Hillsborough, Florida, an opportunity to purchase company stock at a predetermined price. This plan aims to attract and retain talented professionals within the organization by providing an additional incentive in the form of stock options. Under this plan, eligible employees are granted the right to purchase a specific number of shares of WSFS Financial Corporation stock, typically at a discounted price called the exercise price. These options are granted at the discretion of the company, taking into account an employee's role, performance, and tenure. By being a part of the Hillsborough Florida Stock Option Plan, employees have the potential to become shareholders and benefit from the company's financial growth. The Hillsborough Florida Stock Option Plan of WSFS Financial Corporation encompasses various types, each tailored to meet different employee needs and circumstances. These options may include: 1. Non-Qualified Stock Options: These options are typically offered to employees as part of their compensation package. Non-qualified stock options may be granted at a discount or fair market value and are subject to immediate taxation upon exercise. 2. Incentive Stock Options: Aimed at motivating key employees, incentive stock options provide tax advantages for employees. However, to qualify, certain criteria set by the IRS must be met, such as employees being required to hold the stock for a specific period before selling it. 3. Restricted Stock Units (RSS): RSS are an alternative to stock options, where employees are granted units that convert to actual company shares upon vesting. RSS provides a guaranteed value determined by the stock's market price at the time of vesting and are often subject to certain performance conditions or time-based vesting schedules. 4. Performance Stock Options: As the name suggests, these options grant employees the right to purchase company stock contingent upon achieving specific performance milestones or targets. Performance stock options are designed to align employee efforts with the company's strategic goals. Employees participating in the Hillsborough Florida Stock Option Plan should consult the plan documents and their financial advisors to fully understand the terms, conditions, and tax implications associated with each type of option offered. Additionally, the plan may have specific guidelines for the exercise, transfer, or expiry of options, which participants should carefully follow. By implementing the Hillsborough Florida Stock Option Plan, WSFS Financial Corporation aims to empower its employees in Hillsborough, Florida, to become shareholders and share in the company's success while attracting and retaining top talent in the region.

The Hillsborough Florida Stock Option Plan is a comprehensive program designed by WSFS Financial Corporation to offer employees in Hillsborough, Florida, an opportunity to purchase company stock at a predetermined price. This plan aims to attract and retain talented professionals within the organization by providing an additional incentive in the form of stock options. Under this plan, eligible employees are granted the right to purchase a specific number of shares of WSFS Financial Corporation stock, typically at a discounted price called the exercise price. These options are granted at the discretion of the company, taking into account an employee's role, performance, and tenure. By being a part of the Hillsborough Florida Stock Option Plan, employees have the potential to become shareholders and benefit from the company's financial growth. The Hillsborough Florida Stock Option Plan of WSFS Financial Corporation encompasses various types, each tailored to meet different employee needs and circumstances. These options may include: 1. Non-Qualified Stock Options: These options are typically offered to employees as part of their compensation package. Non-qualified stock options may be granted at a discount or fair market value and are subject to immediate taxation upon exercise. 2. Incentive Stock Options: Aimed at motivating key employees, incentive stock options provide tax advantages for employees. However, to qualify, certain criteria set by the IRS must be met, such as employees being required to hold the stock for a specific period before selling it. 3. Restricted Stock Units (RSS): RSS are an alternative to stock options, where employees are granted units that convert to actual company shares upon vesting. RSS provides a guaranteed value determined by the stock's market price at the time of vesting and are often subject to certain performance conditions or time-based vesting schedules. 4. Performance Stock Options: As the name suggests, these options grant employees the right to purchase company stock contingent upon achieving specific performance milestones or targets. Performance stock options are designed to align employee efforts with the company's strategic goals. Employees participating in the Hillsborough Florida Stock Option Plan should consult the plan documents and their financial advisors to fully understand the terms, conditions, and tax implications associated with each type of option offered. Additionally, the plan may have specific guidelines for the exercise, transfer, or expiry of options, which participants should carefully follow. By implementing the Hillsborough Florida Stock Option Plan, WSFS Financial Corporation aims to empower its employees in Hillsborough, Florida, to become shareholders and share in the company's success while attracting and retaining top talent in the region.