Company: NEWTP
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001587987-25-000141
Chunk: 273

Company: NewtekOne, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 273
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Employee Stock Purchase Plan (ESPP)On June 14, 2023, the Company's stockholders approved the ESPP. The initial aggregate number of shares of Common Stock that may be purchased under the ESPP will not exceed 0.2 million shares. Under the terms of the ESPP, employees may authorize the withholding of up to 15% of their eligible compensation to purchase our shares of Common Stock, not to exceed $25 thousand of Common Stock for any calendar year. The purchase price per shares acquired under the ESPP will never be less than 85% of the fair market value of the lesser of our Common Stock on the offering date or purchase date. The Compensation, Corporate Governance and Nominating Committee of our Board of Directors, in its discretion, may terminate the ESPP at any time with respect to any shares for which options have not been granted and has the right to amend the ESPP with stockholder approval within 12 months before or after the adoption of the amendment. The difference between the Common Stock’s fair value and the employee’s discounted purchase price is expensed at the time of purchase. 

F-54

The following table summarizes the Company’s ESPP activity from inception through June 30, 2025:Six Months Ended June 30, 2025Year Ended December 31, 2024Offering PeriodTotalOffering PeriodTotalCommencement date4/1/202510/1/20244/1/202410/1/2023End date6/15/202512/15/20249/15/20243/15/2024Shares purchased9 9 5 10 5 20 Weighted average share price$9.40 $9.40 $11.03 $10.21 $9.83 $10.32 Total purchased, net of discount$80 $80 $55 $101 $51 $207 The ESPP share activity is as follows:SharesESPP shares authorized under the plan200 ESPP shares purchased during:Year ended December 31, 2023 (4)Year ended December 31, 2024(20)Period ended June 30, 2025(13)Available for future purchases, June 30, 2025163 

The Company’s total stock-based compensation expense included within Salaries and employee benefits expense in the Consolidated Statements of Income for the three and six months