Company: NEWTP
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001587987-25-000084
Chunk: 129

Company: NewtekOne, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 129
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1.0 year

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-45

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