Maryland Adoption of Stock Option Plan of WSFS Financial Corporation
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How to fill out Adoption Of Stock Option Plan Of WSFS Financial Corporation?
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FAQ
WSFS common stock is traded on the NASDAQ stock exchange under the symbol WSFS.
Remember: If you hope to purchase and sell your stock someday, accepting your stock option grant is the first step you have to take.It doesn't cost anything to accept the grant, and you're not obligated to actually exercise your options.
Once you have a plan in place, you can simply make amendments to increase the number of shares in the option pool on an as-needed basis. The initial plan and any expansions must be approved by your board of directors and then by shareholders.
Authorized The authorized number of shares can be increased by approval of the Company's board of directors and, if incentive stock options are being issued under the plan, the increase should also be approved by the Company's stockholders.
On the vesting date the employee gains a right to exercise his option or buy the stocks. But there is no obligation, employee can choose to not exercise his option.
The option plan must be approved by the stockholders within 12 months before or after the plan is adopted (see also Explanation: §423, Shareholder Approval Requirement) (IRC § 422(b)(1); Reg. §1.422-3).