Frank DeMaria
NewtekOneAbout Frank DeMaria
Frank DeMaria (age 36) is EVP and Chief Financial Officer of NewtekOne, appointed April 22, 2025, after serving as Chief Accounting Officer since March 2024 and joining the company in May 2023 as SVP of Finance and Accounting; he previously held senior finance roles at Flagstar Bank, Amalgamated Financial Corp., and KPMG and holds an MBA for Accountants and BS in Accounting from Marist University and is a New York CPA . Company performance context in 2024: net income of $50,853k, basic EPS of $1.97, and company TSR of -1.5% (Russell 2000 peer TSR +11.5%) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| KPMG LLP (Audit Financial Services) | Various roles including Senior Manager | 2012–2021 | Senior audit leadership in financial services; foundation in bank accounting and controls |
| Amalgamated Financial Corp. | SVP, Chief Accounting Officer & Principal Accounting Officer | Jul 2021–Oct 2022 | Led public company accounting, reporting, and control framework |
| Flagstar Bank, N.A. | SVP & Controller | Pre–May 2023 (until joining NEWT) | Senior finance leadership overseeing bank accounting and reporting |
External Roles
| Role Type | Details |
|---|---|
| Public company boards | None disclosed in company filings |
| Non-profit/academic/private boards | None disclosed in company filings |
Fixed Compensation
Multi-year cash and equity summary:
| Metric | 2023 | 2024 |
|---|---|---|
| Base Salary ($) | $300,000 | $360,000 |
| Cash Bonus ($) | $0 | $100,000 |
| Stock Awards – Grant Date Fair Value ($) | $99,000 | $301,000 |
Current CFO employment terms (as of April 22, 2025):
| Term Item | Details |
|---|---|
| Role | EVP, Chief Financial Officer |
| Annual Base Salary ($) | $433,000 |
| Agreement Term | Through March 31, 2026 |
| Bonus Eligibility | Company discretionary plan per employment agreement |
| Benefits | Retirement/medical plan participation; executive benefits; PTO; sick leave |
Performance Compensation
Annual cash bonus:
| Year | Bonus ($) | Notes |
|---|---|---|
| 2023 | $0 | No bonus paid |
| 2024 | $100,000 | Discretionary; based on Company performance factors (EPS, asset growth, dividends, loans/deposits growth) |
Restricted Stock Awards (RSAs) – grants and vesting:
| Grant Date | Shares Granted (#) | Grant Date Fair Value ($) | Vest Date |
|---|---|---|---|
| Jul 1, 2024 | 19,889 | $249,000 | Jul 15, 2027 |
| Oct 4, 2024 | 4,119 | $52,000 | Oct 15, 2025 |
| Jul 2023 | 6,215 | Included in 2023 stock awards total $99,000 | Jul 15, 2026 |
Performance metrics and weighting (plan design):
| Metric | Weighting | Target | Actual | Payout | Vesting Basis |
|---|---|---|---|---|---|
| EPS growth; net assets growth; cash dividends; growth in loans & deposits | Discretionary (no formulaic weights disclosed) | Not disclosed | Not disclosed | Discretionary bonuses granted | RSAs time-based (vesting dates above) |
Equity Ownership & Alignment
| Item | Amount | Notes |
|---|---|---|
| Total Beneficial Ownership (shares) | 33,026 | Includes RSAs plus accrued dividends, subject to future vesting, consistent with proxy disclosure practices |
| Ownership % of Outstanding | <1% | Based on 27,289,871 shares outstanding (incl. preferred as-converted) |
| Unvested RSAs Outstanding (#) | 32,504 | Market value $415,076 at $12.77 close on 12/31/2024 |
| Options (Exercisable/Unexercisable) | None | No options outstanding company-wide at YE 2024 |
| Shares Pledged as Collateral | Prohibited; none disclosed | Insider trading policy prohibits hedging/pledging |
| Ownership Guidelines | Executives encouraged to hold meaningful shares; numeric multiple not disclosed | Compliance status not disclosed |
Upcoming vesting schedule and potential supply:
- Oct 15, 2025: 4,119 RSAs plus accrued dividends
- Jul 15, 2026: 6,215 RSAs plus accrued dividends
- Jul 15, 2027: 19,889 RSAs plus accrued dividends
Company policy prohibits hedging and pledging; no options to create forced exercises, lowering typical near-term selling pressure triggers compared to option-heavy structures .
Employment Terms
| Provision | Details |
|---|---|
| Employment Agreement (CFO) | Effective Apr 22, 2025; base $433,000; term through Mar 31, 2026 |
| Severance – Termination Without Cause | 0.5× current annual base compensation (per 2024 agreement basis) |
| Severance – Change in Control | 1.15× current annual base compensation |
| Non-Renewal Payment | Not provided for DeMaria in 2024 agreement (table shows N/A at 12/31/2024) |
| Equity Acceleration | Full acceleration of outstanding and unvested equity awards upon termination other than for cause, non-renewal, or change in control |
| Clawback Policy | Adopted Nov 16, 2023; applies to incentive compensation for three prior fiscal years upon restatement |
| Hedging/Pledging | Prohibited by Insider Trading Policy |
| Non-Compete/Outside Roles | Devote substantially full business time; outside boards allowed if no conflict (Board’s opinion) |
| Indemnification | Indemnified per company bylaws for services |
Post-termination amounts as of 12/31/2024 reference basis:
| Scenario | Amount ($) |
|---|---|
| Change in Control | $414,000 |
| Non-Renewal | — (not applicable) |
| Termination Without Cause | $180,000 (paid in installments over 12 months) |
Investment Implications
- Pay-for-performance alignment: DeMaria’s incentives are predominantly time-based RSAs with full acceleration on certain separation events; annual cash bonuses are discretionary and tied to broad performance factors (EPS, asset growth, dividends, loans/deposits), which reduces gaming risk but limits direct metric line-of-sight for investors .
- Retention risk: Severance for termination without cause is 0.5× base, lower than typical 1–2× packages; however, change-in-control protection at 1.15× base plus full equity acceleration mitigates transition risk during strategic events .
- Selling pressure: Upcoming RSAs vest on Oct 15, 2025; Jul 15, 2026; Jul 15, 2027. No options outstanding and hedging/pledging prohibited—reducing forced-exercise or collateral-driven selling dynamics relative to option-heavy plans .
- Ownership alignment: Beneficial ownership of 33,026 shares (<1%) with substantial unvested RSAs (~32,504 shares, $415k YE market value) aligns him with stock outcomes; numeric ownership guideline multiples are not disclosed, limiting compliance assessment .
- Governance backdrop: Strong say-on-pay support (96%) and independent compensation oversight through the Nominating Committee indicate shareholder acceptance of the executive pay framework .