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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
May 30, 2024
Date of Report (date of Earliest Event Reported)
NEWTEKONE, INC.
(Exact Name of Company as Specified in its Charter)
Maryland
814-01035
46-3755188
(State or Other Jurisdiction of Incorporation or Organization)(Commission File No.)(I.R.S. Employer Identification No.)

4800 T Rex Avenue, Suite 120, Boca Raton, Florida 33431
(Address of principal executive offices and zip code)

(212) 356-9500
(Company’s telephone number, including area code)

(Former name or former address, if changed from last report)

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, par value $0.02 per shareNEWTNasdaq Global Market LLC
5.75% Notes due 2024NEWTLNasdaq Global Market LLC
5.50% Notes due 2026NEWTZNasdaq Global Market LLC
8.00% Notes due 2028NEWTINasdaq Global Market LLC
8.50% Notes due 2029NEWTGNasdaq Global Market LLC

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
¨    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company     o



If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o




Item 5.02.     Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On May 30, 2024, NewtekOne, Inc. (the “Company”) renewed, for an additional one-year term, the employment agreement (the “Employment Agreement”) entered into with executive officer M. Scott Price, the Company's Executive Vice President and Chief Financial Officer and Newtek Bank, N.A.'s, Chief Financial Officer, effective May 15, 2024. In connection with such renewal of the Employment Agreement, Mr. Price will continue to receive his current compensation and participate in other benefits. In addition, the Company entered into a change in control agreement with Mr. Price (the “Change in Control Agreement”), which provides for a severance payment equal to 1.15 times Mr. Price's annual base compensation in effect at the time of termination, in the event of a Qualifying Termination (as defined in the Change of Control Agreement) within the twelve months following a Change of Control (as defined in the Change of Control Agreements).

The foregoing description of the terms of the Employment Agreement and Change and Control Agreement does not purport to be complete and is qualified in its entirety by the terms of the Employment Agreement, which will be filed as an exhibit in the Company’s next Quarterly Report on Form 10-Q, and the terms of the Change of Control Agreement, a form of which has been filed as an exhibit to the Company’s Annual Report on Form 10-K for the period ending December 31, 2023.



SIGNATURES

In accordance with the requirements of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
NEWTEKONE, INC.
Date: May 30, 2024By:
/S/    BARRY SLOANE        
Barry Sloane
Chief Executive Officer, President and Chairman of the Board


v3.24.1.1.u2
Cover
May 30, 2024
Document Information [Line Items]  
Document Type 8-K
Entity Registrant Name NEWTEKONE, INC.
Entity Incorporation, State or Country Code MD
Entity Tax Identification Number 46-3755188
Entity Address, Address Line One 4800 T Rex Avenue
Entity Address, Address Line Two Suite 120
Entity Address, City or Town Boca Raton
Entity Address, State or Province FL
Entity Address, Postal Zip Code 33431
City Area Code 212
Local Phone Number 356-9500
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Amendment Flag false
Entity Central Index Key 0001587987
Document Period End Date May 30, 2024
Securities Act File Number 814-01035
Common Stock, par value $0.02 per share  
Document Information [Line Items]  
Title of 12(b) Security Common Stock, par value $0.02 per share
Trading Symbol NEWT
Security Exchange Name NASDAQ
5.75% Notes due 2024  
Document Information [Line Items]  
Title of 12(b) Security 5.75% Notes due 2024
Trading Symbol NEWTL
Security Exchange Name NASDAQ
5.50% Notes due 2026  
Document Information [Line Items]  
Title of 12(b) Security 8.00% Notes due 2028
Trading Symbol NEWTI
Security Exchange Name NASDAQ
Five Point Five Zero Percent Notes due 2026  
Document Information [Line Items]  
Title of 12(b) Security 5.50% Notes due 2026
Trading Symbol NEWTZ
Security Exchange Name NASDAQ
Eight Point Five Percent Notes due 2029  
Document Information [Line Items]  
Title of 12(b) Security 8.50% Notes due 2029
Trading Symbol NEWTG
Security Exchange Name NASDAQ
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