Form 4: NewtekOne Executive Receives Restricted Stock Award

Frank M. DeMaria, EVP and Chief Accounting Officer of NewtekOne, Inc., was granted 4,119 restricted shares of common stock on October 4, 2024, under the company's 2023 Stock Incentive Plan.

Summary

• Frank M. DeMaria, the EVP and Chief Accounting Officer of NewtekOne, Inc., received a restricted stock award.
• The award was granted on October 4, 2024, under the NewtekOne, Inc. 2023 Stock Incentive Plan.
• DeMaria received 4,119 restricted shares of the company's common stock.
• The shares will vest 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, DeMaria beneficially owns 32,326 shares of NewtekOne, Inc.

Sentiment

Score: 6

Explanation: The document is a routine disclosure of executive compensation. It's neither particularly positive nor negative, but reflects standard corporate governance practices.

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.

Industry Context

Stock awards are a common form of executive compensation used to incentivize performance and align management's interests with those of shareholders. The specifics of the vesting schedule and dividend payments are typical components of such plans.

Comparison to Industry Standards

• Stock incentive plans are a standard practice among publicly traded companies to attract, retain, and motivate key executives.
• Vesting schedules, such as the 12-month vesting period for these restricted shares, are common in the industry.
• Companies like Goldman Sachs, JP Morgan Chase, and Morgan Stanley also use stock-based compensation as a key component of their executive compensation packages.

Stakeholder Impact

• Shareholders may view the stock award as a positive incentive for the executive to improve company performance.
• Employees may see the award as a sign of the company's commitment to its leadership.

Key Dates