Company: NEWTP
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001587987-25-000141
Chunk: 63

Company: NewtekOne, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 63
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 as prescribed by ASC 718, Compensation—Stock Compensation. Accordingly, for restricted stock awards, the Company measures the grant date fair value based upon the market price of its Common Stock on the date of the grant and amortizes the fair value of the awards as stock-based compensation expense over the requisite service period, which is generally the vesting term. 

F-53

The Compensation, Corporate Governance and Nominating Committee of the Board approves the issuance of awards of restricted stock to employees and directors pursuant to the 2023 Stock Incentive Plan, which was approved by the Board in April 2023 and the Company’s shareholders on June 14, 2023. No new awards may be granted under the 2015 Stock Incentive Plan, which was terminated by the Board in April 2023. The following table summarizes the restricted stock issuances under the 2015 and 2023 Stock Incentive Plans, net of shares forfeited, if any:2023 Plan12015 PlanRestricted Stock authorized under the plan23.0 million1.5 millionNet restricted stock (granted)/forfeited during:Year ended December 31, 2021 and prior—(438)Year ended December 31, 2022—(251)Year ended December 31, 2023(82)28Year ended December 31, 2024(497)—Six months ended June 30, 2025(9)—Total net restricted stock (granted)/forfeited(588)(661)1    The 2023 Stock Incentive Plan provides for an initial share reserve of up to 3.0 million shares of Common Stock.2    No stock options were granted under the 2015 or 2023 Stock Incentive Plans.Awards of restricted stock granted under the 2015 and 2023 Stock Incentive Plans generally vest over a one- to three-year periods from the grant date; awards of restricted stock granted under the 2023 Stock Incentive Plan to non-employee directors generally vest over a one-year period. The grant date fair value is expensed over the service period, starting on the grant date. 

Details of the Company’s outstanding shares related to restricted stock awards as of June 30, 2025 and December 31, 2024 are outlined below:June 30, 2025December 31, 2024Shares outstanding related to grants of restricted stock awards764771Weighted average grant