MEDALLION FINANCIAL CORP 8-K

What Happened
Medallion Financial Corp. announced changes to executive roles at its subsidiary Medallion Bank, effective January 12, 2026. Donald Poulton is no longer President of Medallion Bank but will remain Chief Executive Officer of the Bank through the remainder of his employment term. The Company also entered into a Second Amended and Restated Employment Agreement with D. Justin Haley under which Haley ceases to be Executive Vice President and Chief Financial Officer of the Bank and becomes President of Medallion Bank.

Key Details

• Effective date of changes: January 12, 2026.
• D. Justin Haley’s Employment Agreement: two‑year term with automatic annual renewals for an additional two‑year term beginning January 1, 2027 unless terminated.
• Haley’s base salary: $430,000 per year effective January 1, 2026; salary will be reviewed at least annually and may be increased but not decreased.
• Employment terms for Haley include a severance payment under certain termination conditions and a non‑competition covenant in favor of the Company and Medallion Bank.
• Donald Poulton’s prior Employment Agreement (dated June 27, 2016) was amended so he is no longer President but remains CEO; all other terms of his agreement remain in effect.
• The full amended agreements are filed as exhibits to the 8‑K.

Why It Matters
This 8‑K documents a leadership transition at Medallion Bank that maintains management continuity (Poulton remains CEO) while promoting Haley to President. Investors should note the contractual commitments: a fixed base salary for Haley ($430k), potential severance obligations, and a non‑compete that could affect future executive mobility. These terms are relevant for evaluating executive compensation expense and succession planning at the bank; the full agreements are attached for details.