Business Context and Reporting Period
Company: Medallion Financial Corp.
Filing Type: Form 8-K (Current Report)
Report Date: December 1, 2014
Event: Disclosure of stock repurchase activity under Item 8.01 (Other Events).
Key Financial Metrics
This filing reports specific capital allocation metrics related to a stock repurchase program rather than operational financial performance (revenue, profit, or cash flow).
- Repurchase Authorization: $20,000,000 (Authorized July 29, 2014).
- Shares Purchased (Dec 1, 2014): 60,396 shares.
- Cost of Recent Purchase: $567,747 ($9.40 per share).
- Remaining Authorization: $18,163,201.
- Total Shares Repurchased (All Programs): 1,763,088 shares.
- Total Cost (All Programs): $15,812,203.
- Average Cost (All Programs): $8.97 per share.
Material Changes
The filing details a reduction in the available stock repurchase authorization from $20,000,000 to $18,163,201 following the December 1 transaction. The filing text does not provide comparative data for prior periods regarding revenue, profit, or debt levels.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future operations, or discussion of risks and contingencies. The document is strictly a disclosure of a completed corporate action.
Investor Verification Checklist
- Verify the remaining $18,163,201 authorization balance against subsequent filings to track program completion.
- Compare the $9.40 per share purchase price to the company's current market price to assess valuation timing.
- Review the total historical repurchase volume (1,763,088 shares) to understand the impact on outstanding share count.
- Confirm that the $15,812,203 total cost aligns with cash flow statements in the most recent 10-K or 10-Q.