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NewtekOne (NASDAQ: NEWT) extends executive contracts, adds non-renewal pay

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8-K

Rhea-AI Filing Summary

NewtekOne, Inc. renewed one-year employment agreements for key leaders, including CEO and President Barry Sloane, Chief Legal Officer Michael A. Schwartz, CFO Frank DeMaria, and Newtek Bank, N.A. President Peter Downs.

The agreements for Downs, Schwartz, and DeMaria now provide a Non-renewal Payment equal to one year of base compensation if their contracts are not renewed. All other terms of these agreements, as well as Barry Sloane’s employment agreement and the existing Change in Control Agreements, remain unchanged from versions previously filed in earlier reports.

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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.
Non-renewal Payment 1 year base compensation For Downs, Schwartz, and DeMaria under renewed agreements
Non-renewal Payment financial
"provide for a Non-renewal Payment equal to one year of base compensation"
Change in Control Agreements financial
"the terms of the respective Change in Control Agreements, which remain unchanged"
Quarterly Report on Form 10-Q regulatory
"will be filed as an exhibit to the Company’s next Quarterly Report on Form 10-Q"
A quarterly report on Form 10-Q is a standardized financial filing public companies must submit to U.S. regulators every three months, summarizing recent financial results, cash flows, balance sheet changes, operations and material risks or legal developments. Investors treat it like a company report card that shows up-to-date facts rather than marketing copy, helping them track performance, spot trends, reassess risk and make buy or sell decisions.
Understanding 8-K Material Events →
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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
April 1, 2026
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
8.00% Notes due 2028NEWTINasdaq Global Market LLC
8.50% Notes due 2029NEWTGNasdaq Global Market LLC
8.625% Notes due 2029NEWTHNasdaq Global Market LLC
8.50% Notes due 2031NEWTO
Nasdaq Global Market LLC
Depositary Shares, each representing a 1/40th interest in a share of 8.500% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series BNEWTPNasdaq 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 April 1, 2026, NewtekOne, Inc. (the “Company”) renewed for additional one-year terms the employment agreements with its executive officers Barry Sloane, Chief Executive Officer and President (the “Sloane Employment Agreement”); Michael A. Schwartz, Chief Legal Officer and Corporate Secretary (the “Schwartz Employment Agreement”); and Frank DeMaria, Chief Financial Officer and Executive Vice President (the “DeMaria Employment Agreement”). In addition, the Company’s subsidiary Newtek Bank, N.A. renewed for an additional one-year term the employment agreement with its President, Peter Downs (the “Downs Employment Agreement”). In connection with such renewals, (i) the terms and conditions of the Sloane Employment Agreement, which will be filed as an exhibit to the Company’s next Quarterly Report on Form 10-Q, remain unchanged from the employment agreement previously filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the period ended March 31, 2025; (ii) the Downs Employment Agreement, Schwartz Employment and DeMaria Employment Agreement each provide for a Non-renewal Payment equal to one year of base compensation; the other terms and conditions of the Downs Employment Agreement, Schwartz Employment and DeMaria Employment Agreement, which will be filed as exhibits to the Company’s next Quarterly Report on Form 10-Q, remain unchanged from the employment agreements previously filed as exhibits to the Company’s Quarterly Report on Form 10-Q for the period ended March 31, 2025.

The foregoing description of the terms of the employment agreements (collectively, the “Employment Agreements”), does not purport to be complete and is qualified in its entirety by the terms of the respective Employment Agreements, which will be filed as exhibits in the Company’s next Quarterly Report on Form 10-Q, and the terms of the respective Change in Control Agreements, which remain unchanged, a form of which has been filed as an exhibit to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024.





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: April 3, 2026By:
/S/    BARRY SLOANE        
Barry Sloane
Chief Executive Officer, President and Chairman of the Board


Source: View Original Filing on SEC EDGAR

FAQ

What did NewtekOne (NEWT) disclose about its executive employment agreements?

NewtekOne renewed one-year employment agreements for its CEO, chief legal officer, CFO, and Newtek Bank’s president. The company stated that contract terms largely remain unchanged from prior filings, with updated details to be included in its next Quarterly Report on Form 10-Q.

Which NewtekOne (NEWT) executives had their contracts renewed?

Contracts were renewed for Barry Sloane (CEO and President), Michael A. Schwartz (Chief Legal Officer), Frank DeMaria (Chief Financial Officer), and Peter Downs (President of Newtek Bank, N.A.). These renewals extend their employment for additional one-year terms under existing arrangements.

What is the Non-renewal Payment mentioned in NewtekOne’s 8-K?

The Non-renewal Payment in NewtekOne’s disclosure is a benefit for Peter Downs, Michael A. Schwartz, and Frank DeMaria. If their employment agreements are not renewed, each is entitled to a payment equal to one year of base compensation under their respective contracts.

Did NewtekOne (NEWT) change Barry Sloane’s employment agreement terms?

NewtekOne stated that Barry Sloane’s employment agreement terms remain unchanged from the version previously filed with its Form 10-Q for the period ended March 31, 2025. Only the term has been renewed for an additional one-year period under the existing structure.

Are NewtekOne’s Change in Control Agreements affected by this filing?

The Change in Control Agreements referenced in the filing remain unchanged. NewtekOne noted that the form of these agreements was previously filed with its Form 10-K for the fiscal year ended December 31, 2024, and no modifications were disclosed in this update.

Where will investors find full details of NewtekOne’s renewed employment agreements?

NewtekOne plans to file the full employment agreements for Barry Sloane, Michael A. Schwartz, Frank DeMaria, and Peter Downs as exhibits to its next Quarterly Report on Form 10-Q. Those exhibits will contain the complete contractual terms and conditions.

Filing Exhibits & Attachments

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