---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-053156"
form_type: "8-K"
ticker: "MCB"
cik: "0001476034"
company_name: "Metropolitan Bank Holding Corp."
filed_at: "2023-04-28T23:59:59+00:00"
generated_at: "2026-06-16T06:23:10.995859+00:00"
event_type: "regulatory"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Metropolitan Bank rescinds $7.5M CEO loan and option exercise on regulatory concerns

## Summary
- CEO Mark DeFazio received $7.468M loan on March 6, 2023 to exercise 220,200 stock options; loan deemed likely impermissible.
- Loan and option exercise rescinded April 26, 2023; option shares returned, options reinstated; CEO also repaid $780K 2021 loan.
- Rescission restores parties to status quo ante; no consideration exchanged; tax treatment under Revenue Ruling 80-58.
- Company determined loans likely violated applicable law/regulation after reevaluation for proxy statement preparation.

## SEC filing metadata
- accession: 0001104659-23-053156
- form_type: 8-K
- ticker: MCB
- cik: 0001476034
- company_name: Metropolitan Bank Holding Corp.
- filed_at: 2023-04-28T23:59:59+00:00
- event_type: regulatory
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1476034/000110465923053156/0001104659-23-053156-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1476034/000110465923053156/tm2314103d2_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-053156
- JSON: https://secwatch.observer/filing/0001104659-23-053156.json
- Plain text: https://secwatch.observer/filing/0001104659-23-053156.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.