San Antonio Texas Stock Option Plan of WSFS Financial Corporation

• Category: Corporations - Public - Stock Options
• State: Multi-State
• City: San Antonio
• 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 San Antonio Texas Stock Option Plan of WSFS Financial Corporation is a program initiated by WSFS Financial Corporation specifically designed to incentivize and reward its employees in their respective roles. This comprehensive plan offers employees the opportunity to purchase company stock at a predetermined price, known as the exercise price, within a specified timeframe. Under the San Antonio Texas Stock Option Plan, eligible employees are granted stock options that entitle them to buy a certain number of shares of WSFS Financial Corporation stock. The options can be exercised at a future date, also known as the vesting period, which is determined by the company. The primary goal of the San Antonio Texas Stock Option Plan is to align the interests of employees and shareholders, fostering a sense of ownership and promoting long-term commitment within the organization. This program is intended to motivate employees to contribute to the growth and success of the company, as the value of their stock options directly correlates with the company's overall performance. WSFS Financial Corporation offers different types of stock options within the San Antonio Texas Stock Option Plan, providing employees with flexibility and choice. These may include: 1. Incentive Stock Options (SOS): SOS are typically reserved for key employees and executives. They offer favorable tax treatment, as the difference between the exercise price and the fair market value at the time of exercise is subject to the capital gain tax rate. 2. Non-Qualified Stock Options (Nests): Nests are more commonly offered to employees across various levels of the organization. They do not qualify for the same tax advantages as SOS. The difference between the exercise price and the fair market value is subject to ordinary income tax rates upon exercise. 3. Restricted Stock Units (RSS): RSS grant employees a specific number of company shares once certain predetermined conditions are met, such as the completion of a specific period of service or the achievement of performance goals. They cannot be exercised or sold until they vest, offering a measure of future value. 4. Performance Stock Units (Plus): Plus are similar to RSS but are tied explicitly to the achievement of predetermined performance goals. Employees receive shares of stock once these goals are attained, further encouraging exceptional performance and aligning employee efforts with overall organizational achievements. It is important to note that the specific details of the San Antonio Texas Stock Option Plan, such as eligibility criteria, exercise periods, and vesting schedules, may vary based on individual employee agreements and the company's policies. Overall, the San Antonio Texas Stock Option Plan of WSFS Financial Corporation enables employees to share in the company's success, fostering a strong partnership between the organization and its workforce.

San Antonio Texas Stock Option Plan of WSFS Financial Corporation is a program initiated by WSFS Financial Corporation specifically designed to incentivize and reward its employees in their respective roles. This comprehensive plan offers employees the opportunity to purchase company stock at a predetermined price, known as the exercise price, within a specified timeframe. Under the San Antonio Texas Stock Option Plan, eligible employees are granted stock options that entitle them to buy a certain number of shares of WSFS Financial Corporation stock. The options can be exercised at a future date, also known as the vesting period, which is determined by the company. The primary goal of the San Antonio Texas Stock Option Plan is to align the interests of employees and shareholders, fostering a sense of ownership and promoting long-term commitment within the organization. This program is intended to motivate employees to contribute to the growth and success of the company, as the value of their stock options directly correlates with the company's overall performance. WSFS Financial Corporation offers different types of stock options within the San Antonio Texas Stock Option Plan, providing employees with flexibility and choice. These may include: 1. Incentive Stock Options (SOS): SOS are typically reserved for key employees and executives. They offer favorable tax treatment, as the difference between the exercise price and the fair market value at the time of exercise is subject to the capital gain tax rate. 2. Non-Qualified Stock Options (Nests): Nests are more commonly offered to employees across various levels of the organization. They do not qualify for the same tax advantages as SOS. The difference between the exercise price and the fair market value is subject to ordinary income tax rates upon exercise. 3. Restricted Stock Units (RSS): RSS grant employees a specific number of company shares once certain predetermined conditions are met, such as the completion of a specific period of service or the achievement of performance goals. They cannot be exercised or sold until they vest, offering a measure of future value. 4. Performance Stock Units (Plus): Plus are similar to RSS but are tied explicitly to the achievement of predetermined performance goals. Employees receive shares of stock once these goals are attained, further encouraging exceptional performance and aligning employee efforts with overall organizational achievements. It is important to note that the specific details of the San Antonio Texas Stock Option Plan, such as eligibility criteria, exercise periods, and vesting schedules, may vary based on individual employee agreements and the company's policies. Overall, the San Antonio Texas Stock Option Plan of WSFS Financial Corporation enables employees to share in the company's success, fostering a strong partnership between the organization and its workforce.