Wayne Michigan Stock Option Plan of WSFS Financial Corporation

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Wayne
• 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 Wayne Michigan Stock Option Plan is a specific type of employee compensation program offered by WSFS Financial Corporation, a renowned financial institution. This plan allows employees who work in the Wayne, Michigan area to receive stock options as part of their overall compensation package. Stock options are considered to be a valuable incentive for employees, as they provide the opportunity to purchase a specific number of shares of the company's stock at a predetermined price within a specified period. The Wayne Michigan Stock Option Plan aims to motivate and reward employees by giving them the potential to share in the company's success by becoming partial owners and benefiting from increases in stock price. Under the Wayne Michigan Stock Option Plan of WSFS Financial Corporation, there can be several types of stock options available to employees. Some of the most common types include: 1. Non-Qualified Stock Options: These stock options do not receive favorable tax treatment and are usually given to executives or high-ranking employees. Non-qualified stock options allow employees to purchase company stock at a predetermined price, which may be lower than the current market price when the options are granted. 2. Incentive Stock Options: Incentive stock options, also known as SOS, are typically granted to employees at all levels. These options provide potential tax advantages as they qualify for favorable tax treatment under the Internal Revenue Code. To receive these tax benefits, employees must meet specific holding period requirements. 3. Restricted Stock Units: Restricted Stock Units (RSS) can also be part of the Wayne Michigan Stock Option Plan. RSS represents the right to receive shares of company stock at a later date. Unlike traditional stock options, RSS do not require employees to purchase shares, but instead, they are granted a specified number of units that convert into stock over time, often subject to vesting conditions. The Wayne Michigan Stock Option Plan of WSFS Financial Corporation aims to align the interests of employees and shareholders, fostering a sense of ownership and dedication to the company's success. By offering stock options, WSFS Financial Corporation can attract and retain top talent in the Wayne, Michigan area, ultimately contributing to the company's growth and profitability. Disclaimer: This description is a general overview and should not be considered as legal, financial, or tax advice. Employees and potential participants should consult with the corporation's official documentation and seek professional advice to understand the specific details and tax implications of the Wayne Michigan Stock Option Plan.

Wayne Michigan Stock Option Plan is a specific type of employee compensation program offered by WSFS Financial Corporation, a renowned financial institution. This plan allows employees who work in the Wayne, Michigan area to receive stock options as part of their overall compensation package. Stock options are considered to be a valuable incentive for employees, as they provide the opportunity to purchase a specific number of shares of the company's stock at a predetermined price within a specified period. The Wayne Michigan Stock Option Plan aims to motivate and reward employees by giving them the potential to share in the company's success by becoming partial owners and benefiting from increases in stock price. Under the Wayne Michigan Stock Option Plan of WSFS Financial Corporation, there can be several types of stock options available to employees. Some of the most common types include: 1. Non-Qualified Stock Options: These stock options do not receive favorable tax treatment and are usually given to executives or high-ranking employees. Non-qualified stock options allow employees to purchase company stock at a predetermined price, which may be lower than the current market price when the options are granted. 2. Incentive Stock Options: Incentive stock options, also known as SOS, are typically granted to employees at all levels. These options provide potential tax advantages as they qualify for favorable tax treatment under the Internal Revenue Code. To receive these tax benefits, employees must meet specific holding period requirements. 3. Restricted Stock Units: Restricted Stock Units (RSS) can also be part of the Wayne Michigan Stock Option Plan. RSS represents the right to receive shares of company stock at a later date. Unlike traditional stock options, RSS do not require employees to purchase shares, but instead, they are granted a specified number of units that convert into stock over time, often subject to vesting conditions. The Wayne Michigan Stock Option Plan of WSFS Financial Corporation aims to align the interests of employees and shareholders, fostering a sense of ownership and dedication to the company's success. By offering stock options, WSFS Financial Corporation can attract and retain top talent in the Wayne, Michigan area, ultimately contributing to the company's growth and profitability. Disclaimer: This description is a general overview and should not be considered as legal, financial, or tax advice. Employees and potential participants should consult with the corporation's official documentation and seek professional advice to understand the specific details and tax implications of the Wayne Michigan Stock Option Plan.