NewtekOne, Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by NewtekOne, Inc. on April 1, 2026. The report addresses Item 5.02 regarding the renewal of employment agreements for key executive officers and the President of its subsidiary, Newtek Bank, N.A.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on executive compensation arrangements and does not contain financial performance data.
Material Changes
On April 1, 2026, the Company renewed one-year employment agreements for the following individuals:
- Barry Sloane (CEO and President)
- Michael A. Schwartz (Chief Legal Officer and Corporate Secretary)
- Frank DeMaria (CFO and Executive Vice President)
- Peter Downs (President of Newtek Bank, N.A.)
Terms for Barry Sloane remain unchanged from the prior agreement. For Michael Schwartz, Frank DeMaria, and Peter Downs, the agreements include a Non-renewal Payment equal to one year of base compensation. All other terms remain unchanged from agreements filed in the March 31, 2025, Form 10-Q.
Guidance, Outlook, and Risks
The filing contains no management guidance, outlook, or discussion of risks and contingencies. The full terms of the renewed agreements will be filed as exhibits in the Company's next Quarterly Report on Form 10-Q. Change in Control Agreements remain unchanged from those filed in the 2024 Annual Report on Form 10-K.
Investor Verification Checklist
- Verify the specific base compensation amounts for Michael Schwartz, Frank DeMaria, and Peter Downs to calculate the potential Non-renewal Payment liability.
- Review the upcoming Form 10-Q for the full text of the renewed employment agreements.
- Confirm the status of Change in Control Agreements referenced in the 2024 Form 10-K.