Form 4: NewtekOne Executive Nicolas Young Receives Restricted Stock Award

Nicolas Young, President of Newtek Bank, N.A., received 7,955 restricted shares of NewtekOne, Inc. common stock on July 1, 2024, under the company's 2023 Stock Incentive Plan.

Summary

• On July 1, 2024, Nicolas Young, President of Newtek Bank, N.A., was granted 7,955 restricted shares of NewtekOne, Inc.'s 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 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, Young beneficially owns 38,646 shares of NewtekOne, Inc. common stock.

Sentiment

Score: 7

Explanation: The document reflects 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 executive's interests 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 beyond the vesting schedule of the restricted stock.

Industry Context

Stock grants are a common practice in the financial industry to incentivize and retain key executives. The size and terms of the grant would need to be compared to industry benchmarks to assess its competitiveness.

Stakeholder Impact

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

Key Dates