Executive Transition and Bylaws Amendment at Medallion Financial Corp.

Medallion Financial Corp. reported significant executive changes and amendments to its bylaws. Effective January 31, 2026, Mr. Alvin Murstein will transition from CEO to Executive Chairman of the Board, with his role continuing through May 29, 2027. During this period, Mr. Murstein will remain an employee of the company, and his compensation will be determined without regard to the transition. Additionally, Mr. Andrew Murstein will assume the roles of President, CEO, and Chief Operating Officer effective January 31, 2026. The company also adopted the Fourth Amended and Restated By-Laws to formalize the role of the Executive Chairman and outline the duties associated with this position. These changes are part of a planned leadership transition aimed at ensuring continuity and stability within the company.