Nebraska Adoption of Stock Option Plan of WSFS Financial Corporation: The Nebraska Adoption of Stock Option Plan is a strategic move by WSFS Financial Corporation to attract and retain talented professionals. This plan specifically focuses on offering stock options to its employees in the state of Nebraska, providing them with an opportunity to become shareholders in the company. Under the Nebraska Adoption of Stock Option Plan, eligible employees are granted the right to purchase a specified number of shares at a predetermined price, known as the exercise price. This price is typically set at the fair market value on the date of the grant. The plan also outlines the vesting schedule, where employees earn the right to exercise their options over a certain period of time. By implementing this plan, WSFS Financial Corporation aims to align the interests of its employees with those of the shareholders, fostering a sense of ownership and incentivizing employees to contribute towards the long-term success of the company. Stock options offer employees the opportunity to benefit financially as the stock price appreciates. The Nebraska Adoption of Stock Option Plan of WSFS Financial Corporation may have various types, including: 1. Incentive Stock Options (SOS): These are stock options that qualify for favorable tax treatment under the Internal Revenue Code. SOS are subject to specific requirements imposed by the IRS, such as a maximum exercise price and holding period, to enjoy preferential tax treatment upon the sale of the stock. 2. Non-Qualified Stock Options (Nests): These options do not meet the qualifications set by the IRS for favorable tax treatment. Nests offer greater flexibility in terms of exercise price and holding period, but are subject to ordinary income tax rates upon exercise. 3. Restricted Stock Units (RSS): Although technically not options, RSS are often considered as a form of equity compensation. RSS represents a promise to deliver shares of stock at a future date, subject to vesting conditions. Unlike options, employees do not have to purchase the stock at a predetermined price. Instead, RSS are granted outright and converted to shares once vesting requirements are met. The Nebraska Adoption of Stock Option Plan of WSFS Financial Corporation serves as a valuable tool for attracting, motivating, and retaining talented employees in Nebraska. By offering employees the opportunity to participate in the company's success, this plan fosters a stronger sense of commitment and dedication, ultimately leading to improved company performance and shareholder value.
Nebraska Adoption of Stock Option Plan of WSFS Financial Corporation
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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.
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).
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.