secwatch.observer — SEC 8-K summary
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Issuer:     MEDALLION FINANCIAL CORP (MFIN)
CIK:        0001000209
Form:       8-K/A
Filed at:   2024-11-04T23:59:59+00:00
Accession:  0000950170-24-120682
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Medallion Financial removes board seat requirement from KORR pact, ties termination to $0.12/$0.13 dividends
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- Requirement for Board to add an independent director and appoint to Investment Oversight Committee deleted.
- Agreement auto-terminates before 2028 meeting if Co. announces quarterly dividend >= $0.13 by 2027 nomination deadline.
- If $0.12 dividend threshold met, termination before 2027 meeting; otherwise termination before 2026 meeting.
- All other provisions of the Cooperation Agreement remain in full force and effect.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1000209/000095017024120682/0000950170-24-120682-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1000209/000095017024120682/mfin-20241101.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-120682

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