Medallion Financial (NASDAQ: MBNKO) revises Medallion Bank team leadership

Rhea-AI Filing Summary

Medallion Financial Corp. reported changes to leadership roles at its subsidiary Medallion Bank effective January 12, 2026. Donald Poulton will step down as President of Medallion Bank but will continue to serve as Chief Executive Officer for the remainder of his existing employment term, with all other terms of his prior agreement unchanged.

David Justin Haley will leave his role as Executive Vice President and Chief Financial Officer of Medallion Bank and become President under a Second Amended and Restated Employment Agreement. That agreement runs for two years and automatically renews each year for an additional two-year term starting January 1, 2027, unless either party ends it. Mr. Haley will receive an annual base salary of $430,000 effective January 1, 2026, is eligible for severance if his agreement ends under certain conditions, and is subject to a non‑competition covenant.

8-K Event Classification

2 items: 5.02, 9.01

2 items

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance

Key personnel changes including departures, elections, or appointments of directors and executive officers.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Understanding 8-K Material Events →

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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

Date of Report (Date of earliest event reported): January 12, 2026

MEDALLION FINANCIAL CORP.

(Exact name of registrant as specified in its charter)

Delaware

(State or other jurisdiction of incorporation)

001-37747

(Commission File Number)

04-3291176

(IRS Employer Identification No.)

437 MADISON AVENUE, 38th Floor

NEW YORK, New York 10022

(Address of Principal Executive Offices) (Zip Code)

(212) 328-2100

(Registrant’s Telephone Number, Including Area Code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.01 per share	MFIN	NASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. 

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(b) (e) On January 12, 2026, Medallion Financial Corp. (the "Company"), Medallion Bank and Mr. Donald Poulton entered into an amendment (the "Amendment") to Employment Agreement, dated June 27, 2016 by and between Mr. Poulton, the Company and Medallion Bank (the "Existing Agreement"). Pursuant to the Amendment, effective January 12, 2026, Donald Poulton shall no longer be President of Medallion Bank, but shall remain the Chief Executive Officer of Medallion Bank through the remainder of the employment term. All other terms of the Existing Agreement shall continue to be, and shall remain, in full force and effect in accordance with its terms.

(c) (e) On January 12, 2026, the Company, Medallion Bank and Mr. David Justin Haley entered into a Second Amended and Restated Employment Agreement ("Employment Agreement"). Pursuant to the Employment Agreement, effective January 12, 2026, Mr. Haley shall no longer be Executive Vice President and Chief Financial Officer of Medallion Bank, but shall become the President of Medallion Bank. The Employment Agreement has a two year term that automatically renews each year for an additional two year term commencing on January 1, 2027 unless terminated by either party. Under the Employment Agreement, Mr. Haley is entitled to an annual base salary of $430,000 effective January 1, 2026, which shall be reviewed by the Board of Directors of the Company (the “Board”) not less than once each fiscal year and may be increased but not decreased from the then existing base salary. The Employment Agreement provides for a severance payment if the Employment Agreement is terminated under certain conditions. The Employment Agreement contains a non-competition covenant from Mr. Haley in the Company’s and Medallion Bank’s favor.

The foregoing summary of the amended employment agreements for Mr. Donald Poulton and Mr. D. Justin Haley does not purport to be complete and is subject to, and qualified in its entirety, by the full text of such agreements, which are attached hereto as Exhibits 10.1 and 10.2 and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

The following exhibits are being filed with this Current Report on Form 8-K:

10.1	Amendment No. 1 to Employment Agreement, dated and effective as of January 12, 2026 by and between Donald Poulton, Medallion Financial Corp. and Medallion Bank.
10.2	Second Amended and Restated Employment Agreement, dated and effective as of January 12, 2026 by and between David Justin Haley, Medallion Financial Corp. and Medallion Bank.
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: January 12, 2026

MEDALLION FINANCIAL CORP.
By:		/s/ Anthony N. Cutrone
		Name: Anthony N. Cutrone
		Title: Chief Financial Officer

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FAQ

What leadership changes did Medallion Financial Corp. announce for Medallion Bank?

Effective January 12, 2026, Donald Poulton will no longer serve as President of Medallion Bank but will remain its Chief Executive Officer for the rest of his employment term. David Justin Haley will leave his role as Executive Vice President and Chief Financial Officer of Medallion Bank and become its President under a new employment agreement.

What are the key terms of David Justin Haleys new employment agreement at Medallion Bank?

The Second Amended and Restated Employment Agreement for David Justin Haley has a two-year term and will automatically renew each year for an additional two-year term starting on January 1, 2027, unless ended by either party. It sets his annual base salary at $430,000 effective January 1, 2026, provides for severance payments if his employment ends under certain conditions, and includes a non-competition covenant in favor of Medallion Financial Corp. and Medallion Bank.

Does Donald Poultons amended agreement change his role as CEO of Medallion Bank?

No. Under the Amendment to his existing employment agreement, effective January 12, 2026, Donald Poulton will no longer be President of Medallion Bank but will continue as its Chief Executive Officer for the remainder of his current employment term. All other terms of his prior agreement remain in full force and effect.

How long is the new employment term for Medallion Bank President David Justin Haley?

The Employment Agreement for David Justin Haley has an initial two-year term. Beginning January 1, 2027, it automatically renews each year for an additional two-year term unless either Medallion Financial Corp. or Mr. Haley terminates the agreement.

What compensation is specified for David Justin Haley under the new Medallion Bank agreement?

Under the new Employment Agreement, David Justin Haley is entitled to an annual base salary of $430,000 effective January 1, 2026. The Board of Directors of Medallion Financial Corp. will review this base salary at least once each fiscal year, and it may be increased but not reduced from the then-current level.

Does David Justin Haleys new agreement with Medallion Bank include severance and non-compete terms?

Yes. The Employment Agreement for David Justin Haley provides for a severance payment if the agreement is terminated under certain conditions, and it includes a non-competition covenant in favor of Medallion Financial Corp. and Medallion Bank.