Michelle Hong - Director | WSFS FINANCIAL (WSFS) Executive Profile & Compensation

About Michelle Hong

Michelle Hong was appointed to WSFS Financial Corporation’s Board of Directors effective December 1, 2025; the Board states she is independent and will stand for election at the 2026 Annual Meeting of Stockholders . She holds a JD from Harvard Law School and a BA from Duke University, and brings deep financial and legal expertise from senior roles at Northern Trust and Brown Brothers Harriman, alongside corporate governance experience at PECO (Exelon) and NACD Philadelphia . Her appointment increases WSFS’ Board to 12 members, 11 of whom are independent, including Ms. Hong .

Past Roles

Organization	Role	Tenure	Committees/Impact
Northern Trust (Philadelphia office)	Founding Partner and Co-Head	Not disclosed	Built and led regional franchise; financial services leadership
Brown Brothers Harriman	Senior roles	13 years	Institutional wealth and banking expertise
Private Legal Practice	Counsel (Stradley Ronon)	Recent return	Legal counsel; regulatory and governance perspective

External Roles

Organization	Role	Tenure	Committees/Impact
PECO (Exelon company)	Corporate Director	Not disclosed	Utility oversight; regulated industry governance
NACD Philadelphia	Vice Chair-elect	Not disclosed	Board effectiveness, governance standards leadership
Main Line Health	Board service	Not disclosed	Community health governance, fiduciary oversight
Philabundance	Board service	Not disclosed	Community impact; nonprofit governance

Board Governance

Independence: WSFS states Ms. Hong is independent; no arrangements/understandings led to her selection and no related-party transactions under Item 404(a) are disclosed .
Committee assignments: To be determined; she will receive standard non-employee director cash and equity compensation prorated from her appointment date .
Board structure: Classified Board, strong independent leadership with a Lead Independent Director; core committees include Audit, Governance & Nominating, Leadership & Compensation, Risk, and Wealth Management committees .
Attendance expectation: Directors are expected to attend at least 75% of Board and committee meetings; in 2024 each director met this threshold (Board held 7 meetings) .
Shareholder sentiment: 2025 say‑on‑pay passed with 50,307,809 “For”, 796,175 “Against”, 38,083 “Abstain” .

Fixed Compensation

Component	Amount	Notes
Annual Board Retainer	$120,000	$60,000 cash (paid in July) + $60,000 in WSFS common stock (issued annually); Ms. Hong’s compensation will be prorated from Dec 1, 2025
Lead Independent Director Fee	$25,000	If serving in that role (not applicable to Ms. Hong at appointment)
Committee Chair Fees	Audit/WM Fiduciary Audit: $13,500; Leadership & Compensation: $11,000; Governance & Nominating: $8,500; Risk: $8,500; WM Fiduciary: $8,500	Paid to non‑Associate chairs
Committee/ Special Meeting Fees	Audit/WM Fiduciary Audit: $14,250; Others: $7,500	For non‑Associate committee chairs/members; excludes regular Board meetings
Deferred Compensation Plan	Available	Non‑qualified plan allows directors to defer retainer/fees; Company has not made employer contributions for directors

Performance Compensation

Component	Grant mechanics	Vesting/Performance
Annual Equity Grant (Directors)	WSFS issues common stock valued at $60,000 annually	Director equity is a fixed grant; no director‑specific performance metrics disclosed; Ms. Hong’s grant will be prorated from her appointment date

WSFS governance policies emphasize pay-for-performance for executives, but non‑employee director compensation consists of cash retainers, committee fees, and fixed annual equity grants rather than performance‑conditioned awards .

Other Directorships & Interlocks

Company/Org	Public Company?	Role	Potential Interlock/Conflict
PECO (Exelon)	Exelon is public; PECO is a subsidiary	Corporate Director	No related‑party transactions requiring Item 404(a) disclosure at appointment
NACD Philadelphia	Non‑profit	Vice Chair-elect	Governance leadership; no transactional exposure indicated
Main Line Health	Non‑profit	Board service	Community focus; no transactional exposure indicated
Philabundance	Non‑profit	Board service	Community focus; no transactional exposure indicated

Expertise & Qualifications

Legal and regulatory: JD from Harvard Law School; counsel at Stradley Ronon; early career in private legal practice .
Financial services: Founding partner and co‑head at Northern Trust (Philadelphia); 13 years at Brown Brothers Harriman .
Corporate governance: Director at PECO; NACD Philadelphia Vice Chair-elect .
Community engagement: Board service at Main Line Health and Philabundance; recognized for professional and civic achievements .

Equity Ownership

Policy	Requirement	Status
Director Stock Ownership Guidelines	Independent Board members must hold a minimum of 5,000 shares of WSFS common stock	Ms. Hong’s appointment effective Dec 1, 2025; individual ownership not yet disclosed; compliance expected per guideline

Hedging/Pledging: WSFS Insider Trading Policy prohibits hedging; 10b5‑1 trading plans permitted under strict conditions .

Governance Assessment

Positives:
- Clear independence and absence of related‑party transactions at appointment support investor confidence .
- Legal and financial sector expertise plus utility governance experience strengthen Board risk oversight and regulatory competence .
- Director compensation aligned with WSFS’ median peer levels and balanced cash/equity mix; equity fosters ownership alignment .
- Board policies include robust related‑party oversight, hedging prohibitions, and strong independent committee structures .
Watch items:
- Committee assignments pending; investors should monitor placement (Audit, Risk, Governance) for optimal utilization of her skill set .
- Ownership guideline compliance and any future Form 3/4 filings to track alignment; trading plan adherence under 10b5‑1 .

RED FLAGS

None identified at appointment (Item 404(a) confirms no related‑party transactions; independence affirmed) .