UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 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) August 10, 2016

 

 

MEDALLION FINANCIAL CORP.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware
(State or other jurisdiction of incorporation)

 

814-00188   04-3291176
(Commission File Number)   (IRS Employer Identification Number)

437 Madison Avenue

New York, New York 10022

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code (212) 328-2100

(Former Name or Former Address, if Changed Since Last Report)

 

 

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 (see General Instruction A.2. below):

 

¨ 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))

 

 

 


ITEM 8.01.    OTHER EVENTS.

On July 28, 2015, the Board of Directors of Medallion Financial Corp. (the “Company”) authorized management to repurchase up to $26,000,000 of the Company’s common stock (the “Current Stock Repurchase Program”). On August 10, 2016, the Company purchased a total of 17,000 shares of common stock at a cost of $98,277, or $5.78 per share, inclusive of brokerage commissions and fees. As of August 10, 2016, $23,945,241 remains available for future stock repurchases under the Current Stock Repurchase Program. Since the inception of the Company’s original stock repurchase program in November 2003, a total of 2,646,125 shares have been repurchased at a cost of $23,516,497, for an average cost of $8.89 per share.

 

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SIGNATURES

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

 

MEDALLION FINANCIAL CORP.
By:   /s/ Larry D. Hall
  Name:   Larry D. Hall
  Title:   Chief Financial Officer

Date: August 12, 2016

 

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