Business Context and Reporting Period
This Form 8-K filing by Medallion Financial Corp. (Delaware) reports a current event dated March 17, 2015. The filing details a specific transaction under the Company's authorized stock repurchase program.
Key Financial Metrics
The filing does not provide comprehensive financial statements, revenue, profit, cash flow, margins, debt, or liquidity metrics. The only financial data disclosed relates to the stock repurchase activity:
- Shares Purchased: 45,000 shares of common stock.
- Total Cost: $457,184 (inclusive of brokerage commissions and fees).
- Average Price per Share: $10.16.
- Remaining Program Authorization: $13,662,859 available for future repurchases.
- Historical Program Totals (since Nov 2003): 2,221,876 shares repurchased at a total cost of $20,641,029 (average cost of $9.29 per share).
Material Changes
The material change reported is the execution of a stock buyback on March 17, 2015, reducing the remaining authorization under the July 29, 2014 program from $20,000,000 to $13,662,859. No other material changes to operations or financial condition are disclosed in this specific filing.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future outlook, or discussion of risks and contingencies beyond the execution of the authorized stock repurchase program.
Investor Verification Checklist
- Verify the remaining balance of $13,662,859 available for future stock repurchases.
- Confirm the total historical repurchase volume of 2,221,876 shares since November 2003.
- Review the Company's most recent 10-K or 10-Q for comprehensive revenue, profit, and liquidity data not included in this 8-K.