Medallion Financial Corp. has filed a preliminary proxy statement soliciting shareholder votes for its June 9, 2026 virtual annual meeting, including the contested election of three Class III directors. The Board recommends voting FOR incumbents John Everets, Cynthia A. Hallenbeck and Alvin Murstein on the WHITE universal proxy card and opposes nominees put forward by BIMIZCI Fund LLC.
The filing states there were 23,864,438 shares of Common Stock outstanding as of April 13, 2026, and discloses that BIMIZCI beneficially owns 187,305 shares (about 0.78%) and approximately $15 million aggregate par value of the company’s trust preferred securities. The Board characterizes BIMIZCI’s larger exposure to subordinated debt as a conflict of interest and urges shareholders to use the WHITE universal proxy card.
Medallion Financial Corp. beneficial ownership filing shows Andrew M. Murstein reports beneficial ownership of 2,801,776 shares of Common Stock, representing 11.73% of the class. The position includes 348,749 shares issuable upon option exercise and 1,481,963 shares held in the Andrew Murstein Family Trust. The filing cites 23,530,083 shares outstanding as of March 9, 2026. The filing is signed on 04/06/2026.
Medallion Financial Corp. reports that the U.S. Small Business Administration has declared an event of default on debenture financing provided to its subsidiary Medallion Capital, Inc. These SBA debentures totaled $73.5 million, or about 3% of consolidated borrowings as of March 31, 2026.
The SBA found Medallion Capital does not yet have a qualified management team and has directed it, within 120 days, to identify and submit at least one qualified candidate to serve as a full-time principal and investment committee member. The default does not trigger cross-defaults in Medallion Financial’s other debt. If requirements are not met, the SBA may declare the debentures and accrued interest immediately due and payable or pursue other remedies. Medallion Capital is working to submit a qualified candidate and believes that, with this supplement, it will have a qualified management team.
Medallion Financial Corp director and officer Andrew Murstein reported compensation-related stock activity, not open-market trading. He received 323,870 shares of common stock at no cost upon vesting of previously granted performance units under the Medallion Financial Corp 2018 Equity Incentive Plan. To cover tax obligations from this vesting, 165,336 shares were withheld by the company at a price of $9.59 per share in a transaction exempt under Rule 16b-3. After these entries, he directly holds 971,064 common shares and indirectly holds 1,481,963 common shares through the Andrew Murstein Family Trust.
Medallion Financial Corp reported that its Chief Financial Officer, Anthony N. Cutrone, received a stock award of 84,858 shares of common stock at no cost, tied to the vesting of previously granted performance units under the company’s 2018 Equity Incentive Plan.
To cover related tax obligations, the issuer withheld 41,622 shares valued at $9.59 per share in a transaction exempt under Rule 16b-3. After these transactions, Cutrone directly owns 144,800 shares of Medallion Financial common stock.
Medallion Financial Corp executive officer David Justin Haley reported equity compensation and related tax withholding. He received a grant of 39,152 shares of common stock upon vesting of previously granted performance units under the Medallion Financial Corp 2018 Equity Incentive Plan. On the same date, 17,168 shares were withheld by the company at $9.59 per share to cover tax obligations from the vesting. After these transactions, Haley directly owns 152,496 shares of Medallion Financial common stock.
Medallion Financial Corp executive Donald S. Poulton reported equity compensation activity involving the company’s common stock. On March 10, 2026, he received 101,831 shares upon vesting of previously granted performance units under the Medallion Financial Corp 2018 Equity Incentive Plan.
To cover tax obligations from this vesting, 44,653 shares were withheld by the company at a price of $9.59 per share in a transaction exempt under Rule 16b-3. After these routine compensation and tax-withholding entries, Poulton directly holds 319,017 shares of Medallion Financial common stock.
Medallion Financial Corp director and officer Alvin Murstein reported equity compensation activity in the company’s common stock. He received 72,103 shares on March 10, 2026 as a grant tied to previously awarded performance units under the Medallion Financial Corp. 2018 Equity Incentive Plan.
To cover tax obligations from this vesting, 36,809 shares were withheld by the company at $9.59 per share in a transaction exempt under Rule 16b-3, rather than sold in the open market. After these transactions, he directly holds 330,261 shares, with additional indirect holdings of 1,358,300, 117,660, and 5,000 shares through family trusts and his spouse.
Medallion Financial Corp. is a Delaware-based specialty finance company focused on consumer and commercial lending, with total assets of $2.96 billion as of December 31, 2025. Lending is concentrated in recreation and home improvement loans, which together represent most loans receivable and interest income.
Recreation loans totaled $1.62 billion and home improvement loans $810.2 million, with a combined loans receivable balance of $2.57 billion including commercial and taxi medallion exposures. About 25% of consumer loans are non-prime, and management highlights sensitivity to economic downturns, inflation and higher rates, which can raise delinquencies and losses.
The company funds primarily through $2.09 billion of brokered certificates of deposit and other borrowings, plus privately placed notes, SBA debentures and trust preferred securities, for total debt of $2.40 billion. Medallion Bank must remain well-capitalized, comply with Basel III capital and CRA requirements, and navigate extensive consumer, privacy, AML and SBA regulations.
MEDALLION FINANCIAL CORP executive vice president Jeffrey D. Rudnick reported a Form 4 showing 3,298 shares of common stock were withheld by the company on March 1, 2026 to cover tax obligations upon vesting of restricted stock awards. After this tax-withholding disposition, he directly owns 24,873 shares.