Form 4: NewtekOne Executive Receives Stock Grant

Frank M. DeMaria, EVP and Chief Accounting Officer of NewtekOne, Inc., was granted 19,889 restricted shares of common stock on July 1, 2024, under the company's 2023 Stock Incentive Plan.

Summary

• Frank M. DeMaria, the EVP and Chief Accounting Officer of NewtekOne, Inc., received a grant of 19,889 restricted shares on July 1, 2024.
• The grant was made under the NewtekOne, Inc. 2023 Stock Incentive Plan, which was approved by shareholders and the board.
• The restricted shares will vest 100% after 36 months.
• Dividends will be paid in the form of common stock during the restriction period, and these shares will also vest according to the vesting schedule.
• Following the transaction, DeMaria beneficially owns 28,207 shares of NewtekOne, Inc.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, which is generally viewed neutrally to positively as it incentivizes management. The sentiment is slightly positive due to the alignment of interests between management and 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.
• The payment of dividends in common stock during the restriction period further aligns interests.

Future Outlook

The document does not contain any specific forward-looking statements or guidance.

Industry Context

Stock grants are a common practice in publicly traded companies to incentivize executives and align their interests with those of the shareholders. The vesting schedule is a standard mechanism to ensure long-term commitment.

Stakeholder Impact

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

Key Dates