The amendment specifically outlines a payout multiplier for "without Just Cause" terminations, while other employment terms remain unchanged for the financial services company.

NewtekOne, Inc. amended its employment agreement with Chief Financial Officer Frank DeMaria, stipulating a severance payment equal to one times his annual base compensation if terminated without just cause. Effective August 16, 2026, this change clarifies executive payout structures and strengthens governance around key personnel transitions.

Key Highlights

  • NewtekOne, Inc. amended the employment agreement for its Chief Financial Officer, Frank DeMaria.
  • The amendment formalizes a severance entitlement equivalent to one times Mr. DeMaria's annual base compensation.
  • This revision became effective on August 16, 2026, establishing terms for termination without "Just Cause.

NewtekOne, Inc. has officially modified the employment agreement for its Chief Financial Officer, Frank DeMaria, thereby formalizing a severance entitlement that matches one times his annual base compensation. This significant revision, slated to become effective on August 16, 2026, carefully establishes explicit terms for the compensation Mr. DeMaria would receive if his employment were to be terminated by the company without "Just Cause," as carefully defined within the agreement itself. From an investor's perspective, this formalization offers important predictability, as it quantifies a specific financial Liability for the company in such a scenario, preventing the uncertainty of ad-hoc negotiations or potential legal disputes.

Unlike situations where severance terms are vague, NewtekOne has proactively outlined its obligations, allowing for more accurate financial forecasting and risk assessment. This move profoundly underscores NewtekOne's dedication to strong corporate governance practices and provides transparent parameters for executive transitions, ultimately offering invaluable clarity to both the executive and the company regarding potential future arrangements and fostering greater investor confidence in the company's operational stability.

Formalizing CFO Severance Terms

The amendment specifically modifies Mr. DeMaria's employment agreement, originally dated April 1, 2026. Under the updated terms, the Chief Financial Officer is now entitled to a severance payment precisely equal to one times his annual base compensation in the event of a termination "without Just Cause," as defined within the agreement itself. This provision clarifies the financial obligations of NewtekOne under specific separation circumstances, ensuring predictability and reducing ambiguity for both parties.

The formalization of such terms is a standard practice in executive contracts, designed to protect the interests of senior Leadership while also providing a defined financial liability for the company. All other terms and conditions outlined in the original employment agreement remain unchanged, indicating a targeted adjustment rather than a wholesale revision of the existing contract.

Mechanics of Executive Compensation Clarity

Amending an executive's employment agreement, particularly concerning severance, is a key aspect of modern corporate governance and Human Capital management. Such modifications ensure that the terms of engagement and potential disengagement for vital roles, like that of a Chief Financial Officer, are clearly delineated and transparent. The "one times annual base compensation" figure provides a concrete metric for potential payout, allowing for accurate financial planning and risk assessment by NewtekOne.

These agreements play a important role in attracting and retaining high-caliber talent, as executives often seek assurance regarding their professional security and financial stability. By formalizing this aspect of Mr. DeMaria's contract, the company reinforces its commitment to clear and fair compensation practices for its executive team, which can impact overall executive morale and long-term retention.

Governance and Strategic Alignment

The strategic decision by NewtekOne to amend Mr. DeMaria's employment agreement, effective on August 16, 2026, distinctly highlights a proactive and forward-thinking approach to executive contract management. While the specific reasons for this precise timing are not detailed in the filing, the clarification of severance terms is widely regarded as a fundamental best practice in modern corporate governance, directly contributing to the alignment of executive incentives with long-term Shareholder interests. By establishing predictable exit provisions, the company mitigates potential financial and operational disruptions that can arise from unforeseen executive departures, thereby safeguarding shareholder value.

This foresight ensures that NewtekOne can manage critical leadership transitions with greater efficiency and less friction, effectively preempting potential disputes or protracted negotiations during what are often sensitive and challenging periods for any organization. For investors, this proactive stance signals a well-managed company focused on stability and continuity, reducing perceived risk and bolstering confidence in the firm's leadership structure and its ability to maintain strong, clearly articulated arrangements for its entire senior management team.

Upcoming Disclosure for Investors

Investors and other Stakeholders will have the opportunity to review the full details of this amendment in NewtekOne's upcoming regulatory filing. This future filing will provide the complete textual context of the amendment, allowing for a comprehensive understanding of the specific language and implications of the "Just Cause" definition and other related clauses. Public disclosure of such executive compensation arrangements is mandated by regulations like the Securities Exchange Act of 1934, ensuring transparency in corporate financial and governance practices.

The release of the next Quarterly Report will therefore serve as a critical catalyst for further insight into this adjustment to the Chief Financial Officer's employment terms.