Form 4: NewtekOne Director Acquires Restricted Stock Award

Director Salvatore Francis Mulia acquired 1,932 restricted shares of NewtekOne, Inc. common stock on June 14, 2024, under the company's 2023 Stock Incentive Plan.

Summary

• On June 14, 2024, Salvatore Francis Mulia, a director of NewtekOne, Inc., acquired 1,932 restricted shares of the company's common stock.
• The acquisition was made under the NewtekOne, Inc. 2023 Stock Incentive Plan, which was approved by shareholders and the board.
• The restricted stock award vests 100% after 12 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, Mulia directly owns 47,741 shares of NewtekOne, Inc. common stock.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, indicating a positive alignment of interests between management and shareholders. The sentiment is neutral to slightly positive.

Positives

• The grant of restricted stock aligns the director's interests with those of the shareholders.
• The vesting schedule encourages long-term commitment from the director.
• Payment of dividends in common stock during the restriction period further aligns interests.

Industry Context

This type of stock grant is a common practice to incentivize and retain key personnel, aligning their interests with the long-term performance of the company. It is a standard component of executive compensation packages in publicly traded companies.

Comparison to Industry Standards

• Stock incentive plans are a common practice among publicly traded companies to align the interests of directors and executives with those of shareholders.
• Vesting schedules, such as the 12-month vesting period in this case, are typical for restricted stock awards.
• Many companies in the financial services sector, such as Capital One and American Express, utilize similar stock-based compensation plans.

Stakeholder Impact

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

Key Dates