Arkansas Stock Option Plan of WSFS Financial Corporation

• Category: Corporations - Public - Stock Options
• State: Multi-State
• 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 Arkansas Stock Option Plan of WSFS Financial Corporation is a comprehensive program implemented by the corporation to provide employees with the opportunity to acquire ownership in the company through stock options. This plan is designed to attract and retain talented individuals by rewarding their contributions and aligning their interests with the performance and growth of the corporation. Under the Arkansas Stock Option Plan, eligible employees are granted the right to purchase a specific number of company shares at a predetermined price, known as the exercise or strike price. These options usually have a specified vesting period, after which they can be exercised at the discretion of the employee. The exercise price is usually set at the fair market value of the company's stock on the date of grant. The Arkansas Stock Option Plan offers several benefits to employees. Firstly, it provides them with the opportunity to share in the success of the corporation and benefit from its value appreciation over time. As the value of the company's stock increases, employees can realize significant financial gains by exercising their options and selling the acquired shares at a higher market price. Additionally, this plan helps foster a sense of ownership, loyalty, and commitment among employees, as they become stakeholders in the corporation's long-term success. It's important to note that the Arkansas Stock Option Plan may have different types or variations, tailored to meet the specific needs and objectives of WSFS Financial Corporation. These variations can include incentive stock options (SOS) and non-qualified stock options (SOS). SOS are typically granted to employees to provide them with certain tax advantages, as any gain realized upon the exercise of these options may qualify for favorable tax treatment. SOS, on the other hand, do not qualify for these tax benefits but are more flexible in terms of eligibility and grant requirements. In summary, the Arkansas Stock Option Plan of WSFS Financial Corporation is a comprehensive program designed to incentivize and reward employees by granting them the right to purchase company shares at a predetermined price. This plan aligns the interests of employees with the growth and success of the corporation, fostering a sense of ownership, loyalty, and commitment. WSFS Financial Corporation may offer different variations of this plan, including SOS and SOS, to suit the specific needs and objectives of the corporation and its employees.