Nassau New York Stock Option Plan of WSFS Financial Corporation

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Nassau
• 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 Nassau New York Stock Option Plan of WSFS Financial Corporation is a comprehensive employee compensation program designed to incentivize and reward the company's employees. This plan offers various types of stock options, allowing employees the opportunity to purchase company shares at a predetermined price, known as the exercise price. One type of stock option offered under the Nassau New York Stock Option Plan is the Non-Qualified Stock Option (NO). Nests provide employees with the flexibility to purchase company shares at a discounted price within a specific time frame. These options are typically granted to key employees or executives and can be exercised even if the market price of the stock exceeds the exercise price. Another type of stock option available is the Incentive Stock Option (ISO). SOS are generally provided to employees as a tax-efficient benefit. Unlike Nests, SOS offer tax advantages by allowing employees to defer taxes until they sell the purchased shares. However, certain qualifications must be met for SOS, such as being an employee for a minimum period and adhering to specific holding requirements. The Nassau New York Stock Option Plan of WSFS Financial Corporation also encompasses Restricted Stock Units (RSS). RSS is a form of equity-based compensation where employees are granted a specific number of company shares at no cost. These shares, however, are subject to a vesting period, during which employees must fulfill certain predetermined conditions, such as remaining employed for a specified period, meeting performance goals, or achieving milestones. It's worth noting that the WSFS Financial Corporation's Nassau New York Stock Option Plan is designed to align employee interests with the company's long-term performance and shareholder value. As such, these stock options create an ownership mindset, encouraging employees to contribute to the company's growth and success. The plan fosters employee loyalty and commitment, as it provides them with a sense of ownership and benefits from the company's financial performance. By offering various types of stock options, such as Nests, SOS, and RSS, the Nassau New York Stock Option Plan ensures flexibility and accommodates employees at different levels within the organization. In summary, the Nassau New York Stock Option Plan of WSFS Financial Corporation is a comprehensive compensation program that aims to reward and motivate employees. Through various stock option types like Nests, SOS, and RSS, it provides employees with an opportunity to share in the company's success, fostering a stronger connection between their efforts and overall corporate performance.

The Nassau New York Stock Option Plan of WSFS Financial Corporation is a comprehensive employee compensation program designed to incentivize and reward the company's employees. This plan offers various types of stock options, allowing employees the opportunity to purchase company shares at a predetermined price, known as the exercise price. One type of stock option offered under the Nassau New York Stock Option Plan is the Non-Qualified Stock Option (NO). Nests provide employees with the flexibility to purchase company shares at a discounted price within a specific time frame. These options are typically granted to key employees or executives and can be exercised even if the market price of the stock exceeds the exercise price. Another type of stock option available is the Incentive Stock Option (ISO). SOS are generally provided to employees as a tax-efficient benefit. Unlike Nests, SOS offer tax advantages by allowing employees to defer taxes until they sell the purchased shares. However, certain qualifications must be met for SOS, such as being an employee for a minimum period and adhering to specific holding requirements. The Nassau New York Stock Option Plan of WSFS Financial Corporation also encompasses Restricted Stock Units (RSS). RSS is a form of equity-based compensation where employees are granted a specific number of company shares at no cost. These shares, however, are subject to a vesting period, during which employees must fulfill certain predetermined conditions, such as remaining employed for a specified period, meeting performance goals, or achieving milestones. It's worth noting that the WSFS Financial Corporation's Nassau New York Stock Option Plan is designed to align employee interests with the company's long-term performance and shareholder value. As such, these stock options create an ownership mindset, encouraging employees to contribute to the company's growth and success. The plan fosters employee loyalty and commitment, as it provides them with a sense of ownership and benefits from the company's financial performance. By offering various types of stock options, such as Nests, SOS, and RSS, the Nassau New York Stock Option Plan ensures flexibility and accommodates employees at different levels within the organization. In summary, the Nassau New York Stock Option Plan of WSFS Financial Corporation is a comprehensive compensation program that aims to reward and motivate employees. Through various stock option types like Nests, SOS, and RSS, it provides employees with an opportunity to share in the company's success, fostering a stronger connection between their efforts and overall corporate performance.