Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 23, 2020, Nancy J. Foster was appointed to the Board of Directors of
WSFS Financial Corporation ("WSFS" or the "Company"), effective November 23,
2020. Ms. Foster is currently the President and Chief Executive Officer of The
Risk Management Association.
With this appointment, the WSFS Board will have 12 members, nine of whom are
independent, including Ms. Foster. Ms. Foster will be entitled to receive cash
and equity compensation as a non-employee member of the Board, as described in
the section entitled "Compensation of the Board of Directors" in the Company's
2020 Proxy Statement on Schedule 14A, filed with the Securities and Exchange
Commission on March 23, 2020, the amount of which will be prorated from the date
of her appointment. Ms. Foster will stand for reelection at the 2021 Annual
Meeting of Stockholders. Ms. Foster will also serve on the Executive Committee
of the Board.
There are no arrangements or understandings between Ms. Foster and any other
person pursuant to which Ms. Foster was selected as a director, and there are no
transactions to which the Company is a party and in which Ms. Foster has a
material interest subject to disclosure under Item 404(a) of Regulation S-K.
A copy of the Company's press release ("Press Release") announcing the
appointment of Ms. Foster to the WSFS Board of Directors, issued by the Company
on November 23, 2020, is attached hereto as Exhibit 99.1 to this Form 8-K.
Item 9.01 Financial Statements and Other Exhibits.
(d) Exhibits.
99.1 Press Release, dated November 23 , 2020
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