Form 4: NewtekOne CFO Michael Scott Price Receives Restricted Stock Award

NewtekOne's CFO, Michael Scott Price, was granted 4,119 restricted shares of common stock on October 4, 2024, under the company's 2023 Stock Incentive Plan.

Summary

• Michael Scott Price, the Chief Financial Officer of NewtekOne, Inc., received a grant of 4,119 restricted shares of the company's common stock on October 4, 2024.
• The grant was made under the NewtekOne, Inc. 2023 Stock Incentive Plan, which was approved by the shareholders and the Board.
• The restricted stock award vests 100% after twelve months.
• Dividends will be paid in the form of common stock during the restriction period, and these shares will also vest according to the vesting schedule.
• Following the transaction, Price beneficially owns 27,789 shares of NewtekOne common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects standard executive compensation practices and aligns management with shareholder interests.

Positives

• The grant of restricted stock aligns the CFO's interests with those of the shareholders.
• The vesting schedule encourages long-term commitment from the CFO.
• The payment of dividends in common stock further aligns interests.

Industry Context

Stock grants to executives are a common practice in the industry to incentivize performance and align management's interests with those of shareholders.

Comparison to Industry Standards

• Stock grants are a typical component of executive compensation packages across various industries.
• Companies like Goldman Sachs, JP Morgan Chase, and Citigroup also use stock-based compensation to incentivize their executives.
• The vesting schedule of 12 months is fairly standard for restricted stock awards.

Stakeholder Impact

• Shareholders may view the stock grant positively as it incentivizes the CFO to improve company performance.
• Employees may see this as a positive sign of investment in leadership.

Key Dates