Form 4: NewtekOne Chief Legal Officer Michael Schwartz Reports Acquisition of Restricted Stock

Michael Schwartz, Chief Legal Officer of NewtekOne, Inc., reports the acquisition of 9,944 restricted shares of common stock on July 1, 2024, as part of the company's 2023 Stock Incentive Plan.

Summary

• On July 1, 2024, Michael Adam Schwartz, Chief Legal Officer of NewtekOne, Inc., acquired 9,944 restricted shares of the company's common stock.
• The acquisition was part of the NewtekOne, Inc. 2023 Stock Incentive Plan, which was approved by shareholders and the Board.
• The restricted stock award vests 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, Schwartz directly owns 49,329 shares of NewtekOne, Inc. common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The granting of restricted stock is a common practice and generally viewed favorably as it aligns executive interests with shareholder value. There are no negative indicators in the filing.

Positives

• The grant of restricted stock aligns the interests of the Chief Legal Officer with those of the shareholders.
• The vesting schedule encourages long-term commitment from the executive.

Future Outlook

The document does not contain any specific forward-looking statements or guidance.

Industry Context

This filing is a routine disclosure related to executive compensation and is common for publicly traded companies. It reflects the company's use of stock-based compensation to incentivize and retain key personnel.

Stakeholder Impact

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

Key Dates