Wake North Carolina Stock Option Plan is a program offered by WSFS Financial Corporation, a leading financial services company, to its employees in Wake County, North Carolina. This plan provides employees the opportunity to purchase company stock at a specified price within a predetermined timeframe. The Wake North Carolina Stock Option Plan not only serves as an attractive employee benefit but also aligns employees' interests with the company's success. Under this plan, employees are granted stock options, giving them the right to buy a certain number of company shares at a predetermined price, known as the strike or exercise price. These options usually have a vesting period, during which employees must wait before exercising their options. The vesting period encourages loyalty and long-term commitment among employees. WSFS Financial Corporation offers two primary types of stock option plans to its Wake County employees: Non-Qualified Stock Options (Nests) and Incentive Stock Options (SOS). 1. Non-Qualified Stock Options (Nests): Nests are the most common type of stock option granted to employees. They offer flexibility and are not subject to strict regulatory requirements. Nests are not eligible for special tax treatment, and upon exercising these options, employees must pay taxes on the difference between the exercise price and the fair market value of the stock. 2. Incentive Stock Options (SOS): SOS are another type of stock option plan offered by WSFS Financial Corporation. These options provide potential tax advantages to employees. SOS are subject to specific IRS regulations, and if certain criteria are met, employees may benefit from preferential tax treatment upon the sale of the stock. Like Nests, SOS also have a vesting period. The Wake North Carolina Stock Option Plan of WSFS Financial Corporation demonstrates the company's commitment to recognizing and incentivizing the contributions of its Wake County employees. This plan not only empowers employees to become shareholders and participate in the company's growth but also aligns their financial interests with the long-term success of WSFS Financial Corporation.