Business Context and Reporting Period
Company: Medallion Financial Corp.
Filing Type: Form 8-K (Current Report)
Date of Report: November 26, 2014
Event Reported: Stock repurchase activity under an authorized program.
Key Financial Metrics
This filing reports specific capital allocation metrics related to share repurchases rather than operational financial results (revenue, profit, or cash flow).
| Metric | Value |
|---|---|
| Shares Purchased (Nov 26-28, 2014) | 122,077 |
| Cost of Recent Purchase | $1,269,052 |
| Average Price per Share (Recent) | $10.40 |
| Total Shares Repurchased (Program to Date) | 1,702,692 |
| Total Cost (Program to Date) | $15,244,456 |
| Average Cost per Share (Program to Date) | $8.95 |
| Remaining Authorization | $18,730,948 |
Material Changes
The filing details the execution of a stock repurchase program authorized by the Board of Directors on July 29, 2014, for up to $20,000,000. The average purchase price in the reported period ($10.40) was higher than the program's average cost to date ($8.95). No other material changes to operations, debt, or liquidity are disclosed in this document.
Guidance, Outlook, and Risks
The filing does not contain forward-looking guidance, management commentary on future performance, or specific risk factors. It strictly reports the completion of a transaction under an existing authorization. The filing text does not provide a clear value for any unusual items or contingencies.
Investor Verification Checklist
- Verify the total remaining authorization of $18,730,948 against the original $20,000,000 cap.
- Confirm the impact of the $1,269,052 cash outflow on the company's current liquidity position.
- Review the trend in share repurchase prices, noting the increase from the program average of $8.95 to the recent $10.40.
- Check subsequent filings for further repurchase activity or program expiration.