Form 4: NewtekOne Executive Peter Downs Receives Stock Award

Peter Downs, Chief Lending Officer of NewtekOne, Inc., was granted 10,297 restricted shares of common stock on October 4, 2024, under the company's 2023 Stock Incentive Plan.

Summary

• On October 4, 2024, Peter Downs, the Chief Lending Officer of NewtekOne, Inc., received a restricted stock award.
• The award consists of 10,297 shares of the company's common stock.
• The grant was made under the NewtekOne, Inc. 2023 Stock Incentive Plan, which was approved by shareholders and the Board.
• The shares will vest 100% after twelve months.
• Dividends will be paid in the form of common stock during the restriction period and will also vest according to the vesting schedule.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects standard executive compensation practices. The stock grant aligns executive interests with shareholders.

Positives

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

Industry Context

Stock grants are a common practice in the financial industry to incentivize executives and align their interests with shareholders.

Stakeholder Impact

• The stock grant could positively impact shareholders by aligning management's interests with the company's long-term success.
• Employees may view the grant as a positive sign of the company's commitment to its leadership.

Key Dates