NewtekOne Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement
$NEWT
Major Banks
Finance
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Forward-Looking Statements
Statements in NewtekOne, Inc.’s (“NewtekOne” or the “Company”) Current Report on Form 8-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and beliefs and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. See “Note Regarding Forward-Looking Statements” and the sections entitled “Risk Factors” in the Company's filings with the Securities and Exchange Commission available on NewtekOne's website (https://investor.newtekbusinessservices.com/sec-filings) and on the Securities and Exchange Commission’s website (www.sec.gov). Any forward-looking statements made by or on behalf of NewtekOne speak only as to the date they are made, and NewtekOne does not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statements were made.
Item 1.01. Entry into a Material Definitive Agreement.
On January 5, 2024, NewtekOne, Inc.’s subsidiary, Newtek Bank, National Association (“Newtek Bank”), entered into an Amendment to Employment Agreement with Mr. Nicolas Young, Newtek Bank’s President and Chief Operating Officer, effective as of January 5, 2024 (the “Amendment”). The Amendment extends Mr. Young’s Employment Agreement, dated as of January 6, 2023 (the “Employment Agreement”), through March 1, 2024. All other terms of the Employment Agreement are unchanged.
The foregoing description of the terms of the Amendment is qualified in its entirety by the terms of the Amendment, which will be filed as an exhibit to the Company’s next Quarterly Report on Form 10-Q, and the Employment Agreement, which was filed as Exhibit 10.19 to the Company’s Annual Report on Form 10-K for the period ended December 31, 2022.
SIGNATURES
In accordance with the requirements of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| NEWTEKONE, INC. | ||||||||
| Date: January 9, 2024 | By: | /S/ BARRY SLOANE | ||||||
| Barry Sloane | ||||||||
| Chief Executive Officer, President and Chairman of the Board | ||||||||