The Wyoming Adoption of Stock Option Plan of WSFS Financial Corporation is an integral part of WSFS Financial Corporation's compensation and benefits package for its employees. This plan is designed to offer stock options as a form of incentive and reward to eligible employees. Under this plan, eligible employees are provided with the opportunity to purchase a specific number of shares of WSFS Financial Corporation's common stock at a predetermined price within a specified time frame. The stock options granted to employees allow them to benefit from the potential future growth and success of the corporation. The Wyoming Adoption of Stock Option Plan aims to align the interests of employees with those of shareholders, encouraging commitment and dedication towards the company's long-term goals. By offering employees the chance to become shareholders, WSFS Financial Corporation creates a sense of ownership and dedication among its workforce. The Wyoming Adoption of Stock Option Plan of WSFS Financial Corporation includes several types of stock options, each catering to different employee categories. These include: 1. Employee Stock Option: This is the primary type of stock option granted to regular full-time employees. Eligible employees are given the right to purchase a specific number of shares at a predetermined price, often referred to as the strike or exercise price. 2. Incentive Stock Option: This type of stock option is generally reserved for key employees or executives. Incentive Stock Options (SOS) offer certain tax advantages to employees, provided specific conditions are met, such as holding the acquired shares for a specified period. 3. Non-Qualified Stock Option: Non-Qualified Stock Options (Nests) are typically offered to employees who do not meet the requirements for Incentive Stock Options. While Nests do not enjoy the same tax benefits as SOS, they still provide employees with the opportunity to purchase company stock at a predetermined price. 4. Restricted Stock Units (RSS): While not technically stock options, RSS are often included in stock option plans. RSS grant employees the right to receive shares of WSFS Financial Corporation's stock at a future date, usually after meeting certain vesting requirements. The Wyoming Adoption of Stock Option Plan of WSFS Financial Corporation is structured to attract, motivate, and retain talented employees by providing them with a valuable compensation tool. By linking employee performance and the company's success, this plan encourages long-term commitment and dedication, contributing to the growth and prosperity of WSFS Financial Corporation.
Wyoming Adoption of Stock Option Plan of WSFS Financial Corporation
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So start off right: Plan ahead. Your first step is planning. ... Manage your equity. ... Set some guidelines for stock options. ... Get a 409A valuation. ... Use the 409A to set the strike price. ... Adopt your vesting and cliff schedule. ... Set an expiration timeline. ... Create an ESO agreement and get your board's approval.
How do you create an option pool? Decide which shares to issue over. Once you know how many shares you want to issue options over, you need to decide whether you will issue options over new or existing shares. ... Ensure liquidity. ... Choose a share class. ... Decide your option pool size. ... Future-proof your option pool. ... Authorisation.
In a leveraged ESOP structure, an inside loan is established between the company and the ESOP Trust. This inside loan is typically amortized over 15-30 years. Similar to other qualified retirement plans, the company makes cash contributions to the ESOP Trust (up to 25% of the qualified payroll).
To offer ESOPs, founders are required to dilute a part of their equity and carve the ESOP pool. From this pool, ESOPs or equity options are granted to employees. If the pool gets exhausted, founders and investors may dilute further equity to replenish the pool in successive fundraising rounds.
What Is an Example of an ESOP? Consider an employee who has worked at a large tech firm for five years. Under the company's ESOP, they have the right to receive 20 shares after the first year, and 100 shares total after five years. When the employee retires, they will receive the share value in cash.
WSFS common stock is traded on the NASDAQ stock exchange under the symbol WSFS.