secwatch.observer — SEC 8-K summary
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Issuer:     MEDALLION FINANCIAL CORP (MFIN)
CIK:        0001000209
Form:       8-K
Filed at:   2022-05-02T23:59:59+00:00
Accession:  0001193125-22-136840
Event type: other_material
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 5.02, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Medallion Financial settles with KORR, adds independent director, authorizes $35M buyback
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- Reached cooperation agreement with KORR Value L.P., ending proxy fight; KORR withdraws director nominations and demands, agrees to standstill and voting in line with Board.
- Appointed Brent O. Hatch as new independent director and Lead Independent Director; board expanded to nine members.
- Authorized new $35M share repurchase program, the largest in company history; prior program terminated with $22.9M remaining unused.
- Board will search for an additional independent director; current director Frederick Menowitz to retire upon appointment.
- Bylaws amended to create Lead Independent Director position.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1000209/000119312522136840/0001193125-22-136840-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1000209/000119312522136840/d232924d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-136840

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