San Jose California Stock Option Plan of WSFS Financial Corporation

• Category: Corporations - Public - Stock Options
• State: Multi-State
• City: San Jose
• 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 San Jose California Stock Option Plan of WSFS Financial Corporation is a comprehensive employee benefit program designed to provide eligible individuals the opportunity to purchase company stock at a predetermined price. This plan is specifically tailored for employees based in San Jose, California who work for WSFS Financial Corporation, a leading financial institution. The stock option plan at WSFS Financial Corporation offers various types of options to meet the diverse needs of employees. These options include: 1. Incentive Stock Options (SOS): SOS are one type of stock option available under the plan. They offer the potential for favorable tax treatment as long as certain qualifying criteria are met. The exercise price, or the cost to purchase the stocks, is determined at the time of granting the option. 2. Non-Qualified Stock Options (Nests): Nests are another type of stock option offered to eligible employees. Unlike SOS, Nests do not need to meet specific qualifying criteria to receive favorable tax treatment. The exercise price for Nests is also determined at the time of granting. 3. Restricted Stock Units (RSS): RSS are a unique form of stock-based compensation where employees are granted a specific number of shares. These shares are subject to a vesting period, usually based on the employee's tenure or achievement of performance goals. Once the RSS vest, employees can convert them into actual shares of company stock. 4. Employee Stock Purchase Plan (ESPN): The ESPN is a program that allows employees to purchase company stock at a discounted price. Eligible employees can contribute a portion of their salary to accumulate funds, which are then used to purchase company shares periodically at a set discount. The San Jose California Stock Option Plan of WSFS Financial Corporation aims to align the interests of employees with the long-term success of the company. By offering various types of stock options, employees have the opportunity to share in the company's growth, ultimately creating a sense of ownership and motivating them to contribute to the company's success. Disclaimer: The information provided above is for general informational purposes only and should not be considered as legal or financial advice. It is recommended to consult with a professional advisor or the specific plan documentation for accurate and up-to-date information.

The San Jose California Stock Option Plan of WSFS Financial Corporation is a comprehensive employee benefit program designed to provide eligible individuals the opportunity to purchase company stock at a predetermined price. This plan is specifically tailored for employees based in San Jose, California who work for WSFS Financial Corporation, a leading financial institution. The stock option plan at WSFS Financial Corporation offers various types of options to meet the diverse needs of employees. These options include: 1. Incentive Stock Options (SOS): SOS are one type of stock option available under the plan. They offer the potential for favorable tax treatment as long as certain qualifying criteria are met. The exercise price, or the cost to purchase the stocks, is determined at the time of granting the option. 2. Non-Qualified Stock Options (Nests): Nests are another type of stock option offered to eligible employees. Unlike SOS, Nests do not need to meet specific qualifying criteria to receive favorable tax treatment. The exercise price for Nests is also determined at the time of granting. 3. Restricted Stock Units (RSS): RSS are a unique form of stock-based compensation where employees are granted a specific number of shares. These shares are subject to a vesting period, usually based on the employee's tenure or achievement of performance goals. Once the RSS vest, employees can convert them into actual shares of company stock. 4. Employee Stock Purchase Plan (ESPN): The ESPN is a program that allows employees to purchase company stock at a discounted price. Eligible employees can contribute a portion of their salary to accumulate funds, which are then used to purchase company shares periodically at a set discount. The San Jose California Stock Option Plan of WSFS Financial Corporation aims to align the interests of employees with the long-term success of the company. By offering various types of stock options, employees have the opportunity to share in the company's growth, ultimately creating a sense of ownership and motivating them to contribute to the company's success. Disclaimer: The information provided above is for general informational purposes only and should not be considered as legal or financial advice. It is recommended to consult with a professional advisor or the specific plan documentation for accurate and up-to-date information.