The Oregon Adoption of Stock Option Plan of WSFS Financial Corporation is a comprehensive program designed to incentivize and reward employees with stock options. This plan offers employees the opportunity to acquire shares of WSFS Financial Corporation at a predetermined exercise price. By implementing this plan, WSFS aims to attract and retain top talents, motivate employees, and align their interests with the long-term success of the company. Under the Oregon Adoption of Stock Option Plan, employees are granted options to purchase shares of WSFS Financial Corporation stock. These options typically have a vesting period, where employees must wait for a certain period of time after the grant date before exercising their options. This encourages loyalty and commitment from employees, as they become more invested in the company's performance over the long term. The stock options granted under this plan come in different types, each with its own unique features and benefits. Some various types of options include: 1. Incentive Stock Options (SOS): SOS are designed to provide tax advantages for employees. They are subject to specific rules and regulations outlined by the Internal Revenue Code (IRC), which can result in preferential tax treatment upon exercise and sale of the stock. 2. Non-Qualified Stock Options (Nests): Nests are another type of stock option granted to employees. Unlike SOS, they do not qualify for special tax treatment but offer more flexibility in terms of exercise price and eligibility. 3. Restricted Stock Units (RSS): RSS are an alternative form of stock-based compensation. Instead of granting options, RSS provide employees with the right to receive shares of WSFS Financial Corporation stock at a predetermined future date. RSS often have vesting requirements, ensuring employees remain committed to the company. 4. Performance Stock Units (Plus): Plus are similar to RSS, but their vesting and payout are contingent upon the achievement of predetermined performance metrics or company goals. This type of stock option rewards employees based on the company's performance rather than solely on time-based vesting. The Oregon Adoption of Stock Option Plan of WSFS Financial Corporation prioritizes fairness, equity, and transparency in offering stock options to employees. It complies with all relevant state and federal regulations while delivering attractive incentives to drive employee satisfaction, productivity, and loyalty. By implementing this plan, WSFS Financial Corporation aims to foster a strong employee-employer relationship and create a sustainable, high-performing workforce for the benefit of all stakeholders.
Oregon Adoption of Stock Option Plan of WSFS Financial Corporation
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FAQ
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.
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.
WSFS common stock is traded on the NASDAQ stock exchange under the symbol WSFS.
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.
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).