NewtekOne Inc
For the period ended Apr 29, 2024. Filed Apr 29, 2024.
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What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
Apr 29, 2024 · Filed Apr 29, 2024
Contents
Pay Versus Performance Table
The following table shows the past three fiscal years’ total compensation for our named executive officers as set forth in the Summary Compensation Table, the compensation actually paid to our principal executive officer (the “PEO”) and the other named executive officers, our total shareholder return (“TSR”) and our net income.
SEC rules require certain adjustments be made to the Summary Compensation Table totals to determine the compensation actually paid as reported in the Pay Versus Performance table. Compensation Actually Paid does not necessarily represent compensation actually earned, realized or received by the applicable named executive officer, but rather is a valuation calculated under applicable SEC rules by adjusting the Summary Compensation Table totals for the applicable year as described in the footnotes to the Pay Versus Performance Table.
| Year · Summary Compensation Table Total for PEO(1) · Compensation Actually Paid to PEO(2) · AverageSummaryCompensationTable Total fornon-PEONamedExecutiveOfficers(1) · AverageCompensationActually Paid toNon-PEONamedExecutiveOfficers(3) · Value of Initial Fixed $100Investment Based On: · Net Income | ||||||||
|---|---|---|---|---|---|---|---|---|
| Total Shareholder Return(4) · Peer Group Total Shareholder Return(5) · Basic EPS | ||||||||
| ($) · ($) · ($) · ($) · ($ in thousands) · ($) | ||||||||
| 2023 | 700,000 | 599,203 | 596,469 | 575,468 | (11.1)% | 18.5% | 47,329 | $1.89 |
| 2022 | 2,700,000 | 2,096,624 | 918,750 | 785,908 | (50.2)% | (28.2)% | 32,311 | 1.34 |
| 2021 | 3,500,000 | 4,633,439 | 895,000 | 960,718 | 55.5% | 17.7% | 84,142 | 3.69 |
| 2020 | 700,000 | 637,939 | 486,667 | 447,525 | (1.5)% | 19.9% | 33,619 | 1.59 |
(1) Mr. Sloane was our PEO for each of the fiscal years presented in the above table. For 2023, our non-PEO NEOs were Messrs. Leger, Downs, Schwartz, Price and Young. For 2022, our non-PEO NEOs were Messrs. Leger, Downs, Schwartz and Young. For 2021, our non-PEO NEOs were Messrs. Leger, Downs, Schwartz and Young. For 2020, our non-PEO NEOs were Messrs. Downs, Schwartz and Christopher Towers, a former Chief Accounting Officer.
(2) Compensation actually paid to our PEO was calculated in accordance with Item 402(v) of Regulation S-K by deducting and adding from the Summary Compensation Table totals as shown below:
| Year · Reported Summary Compensation Table Total for PEO($) · Less: Reported Value of Equity Awards(a)($) · Equity Award Adjustments · Compensation Actually Paid to PEO($) | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Plus: Year End Fair Value of Equity Awards Granted in the Year that are Unvested at Year End($) · Plus: Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that are Unvested at Year End($) · Plus: Fair Value of Equity Awards that were Granted and Vested in the Same Year at Vesting Date($) · Plus: Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year($) · Less: Year End Fair Value of Equity Awards Granted in Prior Years that Failed to Meet Vesting Conditions($) · Plus: Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation($) | |||||||||
| 2023 | 700,000 | — | — | (363,605) | — | 155,621 | — | 107,187 | 599,203 |
| 2022 | 2,700,000 | (2,000,000) | 1,766,911 | (703,325) | — | (29,048) | — | 362,085 | 2,096,624 |
| 2021 | 3,500,000 | (1,800,000) | 2,299,313 | — | — | 634,125 | — | — | 4,633,439 |
| 2020 | 700,000 | — | — | (235,805) | — | — | — | 173,745 | 637,939 |
(a) The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” and “Option Awards” columns in the Summary Compensation Table for the applicable year.
(3) Compensation actually paid to our non-PEO NEOs was calculated in accordance with Item 402(v) of Regulation S-K by deducting and adding from the Summary Compensation Table totals as shown below:
| Year · Average of Reported Summary Compensation Table Total for non-PEO NEOs($) · Less: Reported Value of Equity Awards(a)($) · Equity Award Adjustments · Average Compensation Actually Paid to non-PEO NEOs($) | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Plus: Year End Fair Value of Equity Awards Granted in the Year that are Unvested at Year End($) · Plus: Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that are Unvested at Year End($) · Plus: Fair Value of Equity Awards that were Granted and Vested in the Same Year at Vesting Date($) · Plus: Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year($) · Less: Year End Fair Value of Equity Awards Granted in Prior Years that Failed to Meet Vesting Conditions($) · Plus: Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation($) | |||||||||
| 2023 | 596,469 | (59,440) | 51,460 | (36,507) | — | 10,152 | — | 13,333 | 575,468 |
| 2022 | 918,750 | (275,000) | 210,389 | (90,316) | — | (12,042) | — | 34,127 | 785,908 |
| 2021 | 895,000 | (318,750) | 304,275 | — | 11,347 | 59,449 | — | 9,397 | 960,718 |
| 2020 | 486,667 | (16,667) | — | (29,476) | — | (12,422) | — | 19,423 | 447,525 |
(a) The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” and “Option Awards” columns in the Summary Compensation Table for the applicable year.
(4) Cumulative TSR is calculated by dividing (a) the sum of the cumulative amount of dividends for the measure period, assuming dividend reinvestment, and the difference between the Company’s share price at the end and the beginning of the measurement period by (b) the Company’s share price at the beginning of the measurement period.
(5) We include a comparison against the Russell 2000 as disclosed in Part II Item 5 of our Annual Report on Form 10-K as of December 31, 2023. We use the Russell 2000 because it represents small cap market capitalization companies similar to us. We do not believe there is a published industry or line-of-business index, or a readily definable peer group of publicly traded companies, that provides a more meaningful comparison of the cumulative return of our common stock or that there is otherwise a reasonably identifiable peer group for purposes of such performance graphs as we ceased to be a business development company subject to the Investment Company Act of 1940 at the beginning of 2023.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.