Tarrant Texas Stock Option Plan of WSFS Financial Corporation

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Tarrant
• 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 Tarrant Texas Stock Option Plan is a program offered by WSFS Financial Corporation that allows employees of the company to purchase company stock at a predetermined price within a specified period. This plan is designed to provide employees with an opportunity to own a stake in the company and benefit from its success. The Tarrant Texas Stock Option Plan is tailored specifically for employees located in Tarrant, Texas, allowing them to participate in the plan and enjoy the advantages of stock ownership. WSFS Financial Corporation believes that offering stock options encourages employees to be more committed and motivated, aligning their interests with the company's overall goals and objectives. There are different types of stock option plans available under the Tarrant Texas Stock Option Plan. These include: 1. Incentive Stock Options (SOS): SOS are typically granted to key employees and provide favorable tax treatment. Employees who exercise SOS usually don't have to pay taxes on the difference between the grant price and the fair market value of the stock at the time of exercise until they sell the shares. 2. Non-Qualified Stock Options (Nests): Nests are more commonly granted to non-executive employees. Unlike SOS, the gain made upon exercising Nests is subject to ordinary income tax at the time of exercise. However, they offer more flexibility in terms of who can receive them. 3. Restricted Stock Units (RSS): RSS are an alternate form of stock-based compensation where employees receive units or shares of the company's stock at a future point in time. RSS usually vest over a specific period, and employees can sell the shares once they fully vest. 4. Performance-Based Stock Options: Performance-based stock options are granted based on predefined performance criteria. These criteria often include financial metrics, individual goals, or targets set by the company. Employees receive these options once they achieve or exceed the specified performance targets. WSFS Financial Corporation aims to provide a comprehensive employee stock option plan that caters to the varying needs and roles of its employees in Tarrant, Texas. The plan is designed to promote employee loyalty, motivation, and a sense of ownership, ultimately contributing to the company's long-term success.

The Tarrant Texas Stock Option Plan is a program offered by WSFS Financial Corporation that allows employees of the company to purchase company stock at a predetermined price within a specified period. This plan is designed to provide employees with an opportunity to own a stake in the company and benefit from its success. The Tarrant Texas Stock Option Plan is tailored specifically for employees located in Tarrant, Texas, allowing them to participate in the plan and enjoy the advantages of stock ownership. WSFS Financial Corporation believes that offering stock options encourages employees to be more committed and motivated, aligning their interests with the company's overall goals and objectives. There are different types of stock option plans available under the Tarrant Texas Stock Option Plan. These include: 1. Incentive Stock Options (SOS): SOS are typically granted to key employees and provide favorable tax treatment. Employees who exercise SOS usually don't have to pay taxes on the difference between the grant price and the fair market value of the stock at the time of exercise until they sell the shares. 2. Non-Qualified Stock Options (Nests): Nests are more commonly granted to non-executive employees. Unlike SOS, the gain made upon exercising Nests is subject to ordinary income tax at the time of exercise. However, they offer more flexibility in terms of who can receive them. 3. Restricted Stock Units (RSS): RSS are an alternate form of stock-based compensation where employees receive units or shares of the company's stock at a future point in time. RSS usually vest over a specific period, and employees can sell the shares once they fully vest. 4. Performance-Based Stock Options: Performance-based stock options are granted based on predefined performance criteria. These criteria often include financial metrics, individual goals, or targets set by the company. Employees receive these options once they achieve or exceed the specified performance targets. WSFS Financial Corporation aims to provide a comprehensive employee stock option plan that caters to the varying needs and roles of its employees in Tarrant, Texas. The plan is designed to promote employee loyalty, motivation, and a sense of ownership, ultimately contributing to the company's long-term success.