Form 4: NewtekOne Executive Nicolas Young Receives Restricted Stock Award

Nicolas Young, President of Newtek Bank, N.A., received 8,237 restricted shares of NewtekOne, Inc. common stock on October 4, 2024, under the company's 2023 Stock Incentive Plan.

Summary

• On October 4, 2024, Nicolas Young, President of Newtek Bank, N.A., was granted 8,237 restricted shares of NewtekOne, Inc. common stock.
• The grant was made under the Shareholder and Board approved NewtekOne, Inc. 2023 Stock Incentive Plan.
• The restricted stock award vests 100% after twelve (12) months.
• Dividends in the form of common stock will be paid during the restricted period and will also vest according to the vesting schedule.
• Following the transaction, Young beneficially owns 46,883 shares of NewtekOne, Inc. common stock.

Sentiment

Score: 7

Explanation: The announcement is a routine disclosure of executive compensation, which is generally viewed neutrally to positively as it aligns management with shareholder interests.

Positives

• The stock incentive plan aligns management's interests with those of shareholders.
• The vesting schedule encourages long-term commitment from the executive.

Future Outlook

The restricted stock award is part of NewtekOne's ongoing efforts to incentivize and retain key personnel.

Industry Context

Stock-based compensation is a common practice in the financial industry to align executive compensation with company performance and shareholder value.

Stakeholder Impact

• Shareholders may view the stock award positively as it incentivizes management to improve company performance.
• Employees may see the stock award as a sign of the company's commitment to its leadership.

Key Dates