Company: NEWTP
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001587987-25-000141
Chunk: 271

Company: NewtekOne, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 271
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,545 $22,270 19,795 Total weighted-average basic shares outstanding25,167 24,599 25,162 24,443 Add effect of dilutive restricted stock awards²481 107 446 99 Total weighted-average diluted shares outstanding³25,648 24,706 25,608 24,542 Diluted earnings per share$0.52 $0.43 $0.87 $0.81 Anti-dilutive warrants, restricted stock awards, and Series A convertible preferred stock 998 998 998 1,002 1    For periods presented, the Series A convertible preferred stock was anti-dilutive and, therefore, the preferred dividends have not been added back to the numerator of Net income, for diluted earnings per share.2    Incremental diluted shares from restricted stock awards under the treasury stock method. 

3    For the three and six months ended June 30, 2025 and June 30, 2024, the warrants were not included in the diluted share count because the results would have been anti-dilutive under the if-converted method. 

NOTE 16—BENEFIT PLANS:Defined Contribution PlanThe Company’s employees participate in a defined contribution 401(k) plan (the “Plan”) adopted in 2004 which covers substantially all employees based on eligibility. The Plan is designed to encourage savings on the part of eligible employees and qualifies under Section 401(k) of the Code. Under the Plan, eligible employees may elect to have a portion of their pay, including overtime and bonuses, reduced each pay period, as pre-tax contributions up to the maximum allowed by law. The Company may elect to make a matching contribution equal to a specified percentage of the participant’s contribution, on their behalf as a pre-tax contribution. 

Stock-based Compensation PlansRestricted Stock AwardsThe Company accounts for its stock-based compensation plan using the fair value method, 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