The Missouri Stock Option Plan of WSFS Financial Corporation is a comprehensive employee benefit program that provides eligible employees with the opportunity to acquire and own shares of WSFS Financial Corporation stock. This plan is specifically designed for employees based in Missouri and is part of the company's commitment to rewarding and motivating its workforce. One of the primary objectives of the Missouri Stock Option Plan is to align the interests of employees with those of the shareholders. By granting stock options, WSFS Financial Corporation aims to create an ownership culture among its Missouri-based employees, encouraging them to contribute to the company's long-term success and profitability. Stock options provide employees with the right to purchase a specified number of shares at a predetermined price, typically known as the exercise price, for a specific period. Under the Missouri Stock Option Plan, WSFS Financial Corporation may offer different types of stock options to its eligible employees. These may include incentive stock options (SOS) and non-qualified stock options (Nests). SOS are typically offered to key employees and come with certain tax advantages. They can only be granted at the fair market value of the stock on the day of the grant and must adhere to specific statutory guidelines. Nests, on the other hand, are more flexible and can be granted to employees at a discount from the market price. Eligibility for participation in the Missouri Stock Option Plan may vary based on certain criteria, such as employment status, position, and performance. Employees who meet the specified requirements are typically granted stock options as part of their overall compensation package. The number of options granted, exercise price, vesting period, and other terms and conditions are determined by WSFS Financial Corporation and communicated to the eligible employees upon grant. The Missouri Stock Option Plan is governed by a set of rules and regulations outlined by WSFS Financial Corporation, as well as applicable state laws. Participants in the plan must carefully review the plan documents and consult with their financial advisors to fully understand the benefits, risks, and tax implications associated with participating in the program. Overall, the Missouri Stock Option Plan is an essential component of WSFS Financial Corporation's employee compensation strategy. It serves as a valuable tool for attracting, retaining, and motivating talented individuals within the company's Missouri workforce, while also aligning their interests with the long-term success of WSFS Financial Corporation.
Missouri Stock Option Plan of WSFS Financial Corporation
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How to fill out Missouri Stock Option Plan Of WSFS Financial Corporation?
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FAQ
ESOPs are expensive to set up, and expensive to maintain as an appraisal is required annually to stay in compliance. If the cash flow dedicated to the ESOP will greatly limit the cash available to reinvest in the business over the long-term, an ESOP is unlikely to be a good fit.
Identification. An ESOP qualifies as a retirement plan, such as a 401 (k) or individual retirement account, while corporations use stock options as an employee benefit, like health insurance. In an ESOP, the company contributes to employee retirement plans with its own stock.
WSFS common stock is traded on the NASDAQ stock exchange under the symbol WSFS.
What is the difference between stock options and an employee stock ownership plan (ESOP)? Stock options are usually granted to company executives whereas ESOP's are provided to all employees.
ESPPs allow employees to buy shares of stock at a discounted rate, while ESOPs offer stock or shares at no cost. Here is an explanation of both plans and the key differences. You can talk to a financial advisor to better understand how your participation impacts your long-term financial goals.