Medallion Financial appoints Andrew Murstein CEO effective Jan 31, 2026; Alvin Murstein becomes Executive Chairman

MEDALLION FINANCIAL CORP

Alvin Murstein will step down as CEO on Jan 31, 2026, becoming Executive Chairman until May 2027, then retire.
Andrew Murstein appointed CEO effective Jan 31, 2026, while continuing as President, COO, and Board member.
Employment agreements amended; all incentive equity awards for 2025-2027 to be in restricted stock and options.
Board adopted amended bylaws to permit an Executive Chairman role.
Legacy taxi medallion lending business now under 1% of total assets.

Key facts

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

MEDALLION FINANCIAL CORP: Adopted Fourth Amended and Restated By-Laws to provide for the election of an Executive Chairman (effective 2025-10-24).

Change: bylaw amendment
Effective: 2025-10-24

Exact text from the filing

In connection with the upcoming appointment of Mr. Alvin Murstein as the Company's Executive Chairman of the Board, on October 24, 2025, the Board adopted the Fourth Amended and Restated By-Laws (the “Amended and Restated By-Laws”), in order to, among other things, provide that the Board may elect an Executive Chairman, who will perform such duties as provided in the Amended and Restated By-Laws or as may from time to time be assigned by the Board.

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Source: SEC EDGAR

accession 0001193125-25-253496

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