NewtekOne (NEWT) grants CFO severance equal to one year of base pay
Rhea-AI Filing Summary
NewtekOne, Inc. amended the Employment Agreement of its Chief Financial Officer, Frank DeMaria, effective August 16, 2026. The amendment entitles Mr. DeMaria to a total severance payment equal to one (1) times his Annual Base Compensation if he is terminated without Just Cause, as defined in the Employment Agreement. All other terms and conditions of his April 1, 2026 Employment Agreement remain unchanged.
Positive
- None.
Negative
- None.
Filing Explained
The August 14 Form 8-K describes the CFO agreement amendment now, but the amendment itself is not included; the company says it will file it with the Form 10-Q for the quarter ending September 30, 2026.
8-K Event Classification
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
1 item
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Key Figures
Severance multiple: one (1) times Annual Base Compensation
Amendment effective date: August 16, 2026
Original Employment Agreement date: April 1, 2026
3 metrics
Severance multiple
one (1) times Annual Base Compensation
Severance payable if CFO is terminated without Just Cause
Amendment effective date
August 16, 2026
Effective date of CFO Employment Agreement amendment
Original Employment Agreement date
April 1, 2026
Date of CFO’s underlying Employment Agreement
Key Terms
severance payment, Just Cause, Employment Agreement, Emerging growth company
4 terms
severance payment financial
"The Amendment provides for Mr. DeMaria to be entitled to a total severance payment"
Just Cause regulatory
"terminated without Just Cause (as defined in the Employment Agreement)"
Employment Agreement regulatory
"Mr. DeMaria’s Employment Agreement dated as of April 1, 2026"
Emerging growth company regulatory
"Emerging growth company o o"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
FAQ
What executive compensation change did NEWT disclose for its CFO?
NewtekOne, Inc. amended CFO Frank DeMaria’s Employment Agreement to provide a severance payment equal to one (1) times his Annual Base Compensation if he is terminated without Just Cause, while leaving all other terms unchanged.
When does the amended Employment Agreement for NEWT’s CFO become effective?
The amendment to CFO Frank DeMaria’s Employment Agreement is effective August 16, 2026. It updates his severance entitlement upon termination without Just Cause but does not alter other existing agreement terms.
Under what conditions does NEWT’s CFO receive severance under the new amendment?
Frank DeMaria is entitled to severance if he is terminated without Just Cause, as defined in his Employment Agreement. In that case, he receives a severance payment equal to one (1) times his Annual Base Compensation.
Did NewtekOne, Inc. change any other terms of the CFO’s Employment Agreement?
No. The company states that all other terms and conditions of Frank DeMaria’s April 1, 2026 Employment Agreement remain unchanged, aside from the revised severance provision for termination without Just Cause.
Where will investors find the full text of NEWT’s CFO employment amendment?
NewtekOne, Inc. indicates the Amendment will be filed as an exhibit to its Quarterly Report on Form 10-Q for the period ending September 30, 2026, providing the complete contractual terms.
AI-generated analysis. How Rhea-AI works. Not financial advice.
