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

NewtekOne's CFO, Michael Scott Price, was granted 1,989 restricted shares of common stock on July 1, 2024, under the company's 2023 Stock Incentive Plan.

Summary

• Michael Scott Price, the CFO of NewtekOne, Inc., received a restricted stock award on July 1, 2024.
• The award consists of 1,989 shares of NewtekOne's common stock.
• The shares were granted under the company's 2023 Stock Incentive Plan, which was approved by shareholders and the Board.
• 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, Price beneficially owns 23,670 shares of NewtekOne common stock.

Sentiment

Score: 7

Explanation: The document indicates a standard executive compensation practice, suggesting stability and alignment of interests. It's a neutral to slightly positive event.

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.

Industry Context

Stock awards are a common practice in publicly traded companies to incentivize and retain key executives.

Comparison to Industry Standards

• Stock incentive plans are a standard component of executive compensation packages in publicly traded companies.
• The vesting period of 12 months is a typical vesting schedule for restricted stock awards.
• Comparable companies such as Blue Owl Capital and Ares Capital Corporation also utilize stock-based compensation to align executive interests with shareholder value.

Stakeholder Impact

• Shareholders may view the stock award positively as it aligns management's interests with the company's long-term performance.
• Employees may see this as a positive sign of the company's commitment to its leadership.

Key Dates