The Mississippi Stock Option Plan is a key element of WSFS Financial Corporation, a prominent financial services company based in Wilmington, Delaware. This plan provides an opportunity for WSFS employees based in Mississippi to acquire company stock options as part of their compensation package. The plan is specifically designed to incentivize and reward employees for their contributions to the company's success. Under the Mississippi Stock Option Plan, employees are granted the right to purchase a specified number of WSFS Financial Corporation shares at a predetermined price, known as the exercise price. These stock options typically have a vesting period, which means they cannot be exercised immediately upon being granted. Instead, they become exercisable over time, encouraging employees to stay with the company long-term. There are several types of stock options that may be included in the Mississippi Stock Option Plan: 1. Incentive Stock Options (SOS): These are stock options that meet certain criteria outlined by the Internal Revenue Service (IRS). SOS offer potential tax advantages to employees, as any gain from exercising and selling these options may be subject to capital gains tax, rather than ordinary income tax. 2. Non-Qualified Stock Options (SOS): Unlike SOS, SOS do not meet the IRS criteria for preferential tax treatment. The gain from exercising SOS is subject to ordinary income tax rates. However, SOS can be more flexible in terms of eligibility and availability compared to SOS. 3. Restricted Stock Units (RSS): While not technically stock options, RSS are another form of equity compensation. RSS represents a promise to distribute a specified number of WSFS Financial Corporation shares to an employee at a future date, subject to vesting conditions. RSS are often used as a retention tool, as they ensure employees receive company stock after a predetermined period. The Mississippi Stock Option Plan underscores WSFS Financial Corporation's commitment to aligning employee interests with long-term shareholder value. By granting stock options, the company encourages employees to actively contribute to the company's growth, profitability, and overall success. This in turn can promote a culture of ownership and shared goal achievement within the organization.
Mississippi Stock Option Plan of WSFS Financial Corporation
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Wells Fargo CFO Mike Santomassimo, meanwhile, was 2022's second-highest-paid finance chief with total adjusted compensation of $12.8 million ? representing a 6.8% increase from 2021.
--(BUSINESS WIRE)-- WSFS Financial Corporation (NASDAQ: WSFS) (?WSFS?) has completed the merger and brand conversion of Cypress Capital Management and West Capital Management and has renamed the combined entity Bryn Mawr Capital Management, LLC, effective January 1, 2023.
On August 18, 2023, WSFS Financial Corporation (the ?Company?) terminated without cause the employment of Dominic C. Canuso as the Company's Executive Vice President, Chief Financial Officer and Corporate Secretary. Mr. Canuso will continue to be employed by the Company through August 31, 2023.
$245K. The estimated total pay for a Vice President Finance at WSFS Financial is $245,194 per year. This number represents the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users. The estimated base pay is $160,848 per year.
WSFS Financial Corporation is a multibillion-dollar financial services company. Its primary subsidiary, WSFS Bank, is the oldest and largest locally headquartered bank and trust company in the Greater Philadelphia and Delaware region.
WILMINGTON, Del., August 24, 2023--(BUSINESS WIRE)--WSFS Financial Corporation (NASDAQ: WSFS), today announced Arthur J. Bacci, Executive Vice President and Chief Wealth Officer of WSFS Financial Corporation, will also serve as Interim Chief Financial Officer (CFO) of WSFS.
As Executive Vice President and Chief Financial Officer at WSFS FINANCIAL CORP, Dominic C. Canuso made $1,611,195 in total compensation.