NewtekOne, Inc. Amends CFO Employment, Adds 1x Severance

What Happened

• NewtekOne, Inc. (NEWT) filed an 8-K reporting an amendment to Chief Financial Officer Frank DeMaria’s Employment Agreement.
• The Amendment, effective August 16, 2026, provides that if Mr. DeMaria is terminated without “Just Cause” he is entitled to a severance payment equal to one (1) times his Annual Base Compensation. The Employment Agreement was originally dated April 1, 2026; other terms remain unchanged.

Key Details

• Party: Frank DeMaria, Chief Financial Officer of NewtekOne, Inc.
• Effective date of Amendment: August 16, 2026; 8-K filed August 14, 2026.
• Severance: total payment equal to 1× Annual Base Compensation (i.e., one year of base pay).
• Documentation: original Employment Agreement was filed as Exhibit 10.4 to the Company’s 10-Q for the period ended June 30, 2026; the Amendment will be filed as an exhibit to the Company’s 10-Q for the period ending September 30, 2026.

Why It Matters

• This amendment creates a contractual obligation that could require the company to pay one year of the CFO’s base salary if he is terminated without Just Cause, which is a potential cash outflow to monitor.
• For investors, the change signals the company’s decision to enhance retention/protection for its CFO while otherwise leaving the April 1, 2026 employment terms unchanged.