Form 4: NewtekOne CEO Barry Sloane Receives Restricted Stock Award

Barry Sloane, CEO of NewtekOne, Inc., was granted 11,532 restricted shares of common stock on October 4, 2024, under the company's 2023 Stock Incentive Plan.

Summary

• On October 4, 2024, NewtekOne, Inc.'s CEO, Barry Sloane, received a restricted stock award.
• The award consists of 11,532 restricted shares of the company's common stock.
• The grant was made under the Shareholder and Board approved NewtekOne, Inc. 2023 Stock Incentive Plan.
• The restricted shares will vest 100% after twelve months.
• Dividends in the form of common stock will be paid during the restriction period and will also vest according to the vesting schedule.
• Following the transaction, Barry Sloane beneficially owns 1,158,855 shares of NewtekOne, Inc. common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. It reflects standard executive compensation practices and aligns management with shareholder interests. There are no immediate negative implications.

Positives

• The stock grant aligns the CEO's interests with those of the shareholders.
• The vesting schedule encourages long-term commitment from the CEO.

Future Outlook

The document does not contain specific forward-looking statements beyond the vesting schedule of the restricted stock.

Industry Context

Stock grants are a common form of executive compensation in publicly traded companies, aligning management's interests with shareholder value.

Comparison to Industry Standards

• Stock grants are a typical component of executive compensation packages in publicly traded companies.
• Companies like Goldman Sachs, JP Morgan Chase, and Citigroup also use stock grants as part of their compensation strategy to align executive incentives with shareholder value.
• The vesting schedule of 12 months is fairly standard, as many companies use similar vesting periods to encourage long-term commitment.

Stakeholder Impact

• The stock grant could positively impact shareholders by aligning the CEO's interests with the company's long-term performance.
• Employees may view the grant as a positive sign of the company's commitment to its leadership.

Key Dates