San Diego California Stock Option Plan of WSFS Financial Corporation

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: San Diego
• 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 Diego California Stock Option Plan of WSFS Financial Corporation: A Comprehensive Overview and Types WSFS Financial Corporation, a prominent banking institution, offers employees in its San Diego, California branches a range of attractive compensation incentives, including the San Diego California Stock Option Plan. This plan allows eligible employees the opportunity to purchase company stock at a predetermined price, referred to as the exercise price, within a specified time frame. Under the San Diego California Stock Option Plan, employees are given the right to buy a specific number of shares of WSFS Financial Corporation stock at a future date. This arrangement allows employees to benefit from potential stock price appreciation over time, making it an enticing long-term incentive. Additionally, stock options serve as a means for aligning the interests of employees and shareholders, as both parties benefit from the company's success. There are different types of stock options available within the San Diego California Stock Option Plan, based on various criteria: 1. Non-Qualified Stock Options (SOS): SOS are the most common type of stock option provided under the plan. These options allow employees to purchase company stock at a predetermined price over a specific period. SOS are typically subject to tax obligations upon exercise, with the difference between the exercise price and the current market value of the stock considered taxable income. 2. Incentive Stock Options (SOS): SOS are another type of stock option available to eligible employees. Unlike SOS, SOS provide certain tax advantages. To qualify for these benefits, employees must meet specific requirements outlined by the Internal Revenue Service (IRS). Employees can enjoy a favorable tax treatment by holding the stock for a specific period before selling it. 3. Restricted Stock Units (RSS): In addition to stock options, WSFS Financial Corporation may offer RSS to employees as part of their compensation package. RSS are not options to purchase stocks but rather a promise to deliver shares of company stock at a future date, typically after certain conditions are met. Upon vesting, RSS convert into actual shares of company stock, subject to applicable taxes. It is important to note that the terms and conditions of the San Diego California Stock Option Plan may vary based on individual employment agreements, job positions, and the overall compensation structure of WSFS Financial Corporation. Employees should refer to the specific plan documents and consult with their Human Resources representative for full details regarding their eligibility, exercise periods, tax implications, and any other significant considerations related to the stock option plan. In summary, the San Diego California Stock Option Plan offered by WSFS Financial Corporation in its San Diego branch provides employees with a valuable opportunity to purchase company stock, contributing to their overall remuneration package. The plan includes different types of stock options, such as non-qualified stock options, incentive stock options, and restricted stock units. This comprehensive offering serves to incentivize long-term employment, align employee interests with shareholder value, and solidify WSFS Financial Corporation's position as an attractive employer in the financial industry.

San Diego California Stock Option Plan of WSFS Financial Corporation: A Comprehensive Overview and Types WSFS Financial Corporation, a prominent banking institution, offers employees in its San Diego, California branches a range of attractive compensation incentives, including the San Diego California Stock Option Plan. This plan allows eligible employees the opportunity to purchase company stock at a predetermined price, referred to as the exercise price, within a specified time frame. Under the San Diego California Stock Option Plan, employees are given the right to buy a specific number of shares of WSFS Financial Corporation stock at a future date. This arrangement allows employees to benefit from potential stock price appreciation over time, making it an enticing long-term incentive. Additionally, stock options serve as a means for aligning the interests of employees and shareholders, as both parties benefit from the company's success. There are different types of stock options available within the San Diego California Stock Option Plan, based on various criteria: 1. Non-Qualified Stock Options (SOS): SOS are the most common type of stock option provided under the plan. These options allow employees to purchase company stock at a predetermined price over a specific period. SOS are typically subject to tax obligations upon exercise, with the difference between the exercise price and the current market value of the stock considered taxable income. 2. Incentive Stock Options (SOS): SOS are another type of stock option available to eligible employees. Unlike SOS, SOS provide certain tax advantages. To qualify for these benefits, employees must meet specific requirements outlined by the Internal Revenue Service (IRS). Employees can enjoy a favorable tax treatment by holding the stock for a specific period before selling it. 3. Restricted Stock Units (RSS): In addition to stock options, WSFS Financial Corporation may offer RSS to employees as part of their compensation package. RSS are not options to purchase stocks but rather a promise to deliver shares of company stock at a future date, typically after certain conditions are met. Upon vesting, RSS convert into actual shares of company stock, subject to applicable taxes. It is important to note that the terms and conditions of the San Diego California Stock Option Plan may vary based on individual employment agreements, job positions, and the overall compensation structure of WSFS Financial Corporation. Employees should refer to the specific plan documents and consult with their Human Resources representative for full details regarding their eligibility, exercise periods, tax implications, and any other significant considerations related to the stock option plan. In summary, the San Diego California Stock Option Plan offered by WSFS Financial Corporation in its San Diego branch provides employees with a valuable opportunity to purchase company stock, contributing to their overall remuneration package. The plan includes different types of stock options, such as non-qualified stock options, incentive stock options, and restricted stock units. This comprehensive offering serves to incentivize long-term employment, align employee interests with shareholder value, and solidify WSFS Financial Corporation's position as an attractive employer in the financial industry.