North Dakota 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 North Dakota Stock Option Plan offered by WSFS Financial Corporation is a comprehensive employee benefits program designed to incentivize and reward employees for their contributions to the company's growth and success. This stock option plan allows qualified employees to purchase shares of WSFS Financial Corporation's stock at a predetermined price over a specified period. Under the North Dakota Stock Option Plan, employees are granted the right, but not the obligation, to acquire a specific number of stocks at a predetermined exercise price. This exercise price is often set at the fair market value of the stock on the date of grant. By participating in this plan, employees become stockholders, aligning their interests with the overall performance and value of WSFS Financial Corporation. There are various types of North Dakota Stock Option Plans available within WSFS Financial Corporation, tailored to meet different employee needs and objectives. Some of these plans include: 1. Incentive Stock Options (SOS): These stock options are typically reserved for key employees and provide certain tax advantages. SOS can only be granted to employees, and the shares acquired through the exercise of SOS are subject to specific holding period requirements to qualify for favorable tax treatment. 2. Non-Qualified Stock Options (Nests): Nests are more common and can be granted to both employees and non-employee directors. Unlike SOS, Nests do not offer special tax treatment. However, they offer greater flexibility in terms of grant size, exercise price, and timing of exercise. 3. Stock Appreciation Rights (SARS): SARS are another type of stock-based compensation that provides the right to receive the appreciation in the value of a specified number of shares of WSFS Financial Corporation's stock. The appreciation is determined between the grant date and the exercise date, providing employees with the opportunity to benefit from an increase in stock price without actually purchasing the shares. The North Dakota Stock Option Plan of WSFS Financial Corporation aims to attract and retain top talent by offering employees the opportunity to share in the company's success and growth. By linking employee compensation to the company's performance, the plan aligns the interests of employees and shareholders, fostering a sense of ownership and motivation within the workforce. It is important to note that the specific details, terms, and conditions of the North Dakota Stock Option Plan may vary depending on individual employee agreements, company policies, and any applicable regulations. Employees should refer to the official plan documentation and consult with their HR representatives or financial advisors for accurate and up-to-date information.