Business Context and Reporting Period
This Form 8-K filing by Medallion Financial Corp. reports a current event dated August 10, 2016. The filing details the execution of a stock repurchase under an existing program authorized by the Board of Directors on July 28, 2015.
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 specific stock repurchase transaction:
- Shares Repurchased: 17,000 shares
- Total Cost: $98,277 (inclusive of commissions and fees)
- Average Price per Share: $5.78
- Remaining Program Authorization: $23,945,241
- Total Historical Repurchases (since Nov 2003): 2,646,125 shares at a total cost of $23,516,497 (average cost $8.89 per share)
Material Changes
The filing reports a reduction in the available capital for the Current Stock Repurchase Program from the previously authorized amount. No other material changes to operations, assets, or liabilities are disclosed in this document.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future performance, or discussion of risks and contingencies beyond the execution of the authorized buyback program.
Investor Verification Checklist
- Verify the remaining balance of the stock repurchase program ($23,945,241) against subsequent filings.
- Compare the repurchase price of $5.78 per share to the company's current market trading price.
- Review the company's most recent 10-Q or 10-K for comprehensive liquidity and debt metrics not included in this 8-K.