secwatch.observer — SEC 8-K summary
======================================

Issuer:     NewtekOne, Inc. (NEWT)
CIK:        0001587987
Form:       8-K
Filed at:   2025-04-23T23:59:59+00:00
Accession:  0001587987-25-000069
Event type: leadership
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

NewtekOne appoints new Bank President and Company CFO; President of Bank resigns
--------------------------------------------------------------------------------

- Nicolas Young resigns as President/COO of Newtek Bank effective May 16; Peter Downs appointed as President effective April 22.
- Downs, previously Chief Lending Officer and board member, gets $750k base salary under employment agreement.
- Frank DeMaria named CFO of NewtekOne (was Chief Accounting Officer); base salary $433k; M. Scott Price remains CFO of Bank.
- Michael Schwartz's employment as Chief Legal Officer renewed for one year; base compensation $625k unchanged.
- All executives have change-in-control agreements providing severance of 1.15x base plus prior year bonus.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1587987/000158798725000069/0001587987-25-000069-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1587987/000158798725000069/newt-20250423.htm
  HTML page:      https://secwatch.observer/filing/0001587987-25-000069

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer