Company: NEWTP
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001587987-25-000084
Chunk: 242

Company: NewtekOne, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 242
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 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. 

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The following table summarizes the Company’s ESPP activity from inception through March 31, 2025:Period Ended March 31, 2025Year Ended December 31, 2024Offering PeriodTotalOffering PeriodTotalCommencement date10/1/202410/1/20244/1/202410/1/2023End date3/15/202512/15/20249/15/20243/15/2024Shares purchased4 4 5 10 5 20 Weighted average share price$10.97 $10.97 $11.03 $10.21 $9.83 $10.32 Total purchased, net of discount$48 $48 $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 March 31, 2025(4)Available for future purchases, March 31, 2025172 

The Company’s total stock-based compensation expense included within Salaries and employee benefits expense in the Consolidated Statements of Income for the three months ended March 31, 2025 and 2024 is summarized below:Three Months Ended March 31,20252024Restricted stock awards$1,828 $681 ESPP6 — Total compensation cost recognized for stock-based compensation plans$1,834 $681 

F-46

NOTE 16—INCOME TAXES:The Company elected to be treated as a RIC under the Code beginning with the 2015 tax year and, through the year ended December 31, 2022, operated in a manner so as to continue to qualify for the tax treatment applicable to RICs. The Company filed its final RIC tax return for the