NewtekOne, Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by NewtekOne, Inc. on July 7, 2023. The report discloses an amendment to the employment agreement of the Company's Chief Financial Officer, M. Scott Price, who was originally appointed on May 16, 2023.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margin, debt, or liquidity metrics. This report focuses exclusively on executive compensation adjustments.
Material Changes
The primary material change disclosed is an amendment to the Employment Agreement for M. Scott Price, effective July 1, 2023. His annual base compensation was adjusted to $433,000. All other terms of the original agreement remain unchanged.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on financial outlook, or discussion of risks and contingencies. The full text of the Employment Agreement and the amendment will be filed as exhibits to the Company's next Quarterly Report on Form 10-Q.
Key Facts for Investor Verification
- Verify the total compensation package for the CFO, including any performance-based incentives not detailed in this summary.
- Review the upcoming Form 10-Q for the full text of the Employment Agreement and amendment.
- Confirm the effective date of the compensation change is July 1, 2023.