{"url_path":"/sec/mfin/8-k/2026-01-12/item-5-02","section_key":"item-5-02","section_title":"Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-01-12","source_url":"https://www.sec.gov/Archives/edgar/data/1000209/0001193125-26-010406-index.html","accession_number":"0001193125-26-010406","cik":"0001000209","ticker":"MFIN","issuer_name":"MEDALLION FINANCIAL CORP","edgar_url":"https://www.sec.gov/Archives/edgar/data/1000209/0001193125-26-010406-index.html","primary_entity_key":"0001000209","primary_entity_name":"MEDALLION FINANCIAL CORP"},"word_count":350,"has_tables":true,"body_markdown":"Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.\n\n \n\n(b) (e) On January 12, 2026, Medallion Financial Corp. (the \"Company\"), Medallion Bank and Mr. Donald Poulton entered into an amendment (the \"Amendment\") to Employment Agreement, dated June 27, 2016 by and between Mr. Poulton, the Company and Medallion Bank (the \"Existing Agreement\"). Pursuant to the Amendment, effective January 12, 2026, Donald Poulton shall no longer be President of Medallion Bank, but shall remain the Chief Executive Officer of Medallion Bank through the remainder of the employment term. All other terms of the Existing Agreement shall continue to be, and shall remain, in full force and effect in accordance with its terms.\n\n \n\n(c) (e) On January 12, 2026, the Company, Medallion Bank and Mr. David Justin Haley entered into a Second Amended and Restated Employment Agreement (\"Employment Agreement\"). Pursuant to the Employment Agreement, effective January 12, 2026, Mr. Haley shall no longer be Executive Vice President and Chief Financial Officer of Medallion Bank, but shall become the President of Medallion Bank. The Employment Agreement has a two year term that automatically renews each year for an additional two year term commencing on January 1, 2027 unless terminated by either party. Under the Employment Agreement, Mr. Haley is entitled to an annual base salary of $430,000 effective January 1, 2026, which shall be reviewed by the Board of Directors of the Company (the “Board”) not less than once each fiscal year and may be increased but not decreased from the then existing base salary. The Employment Agreement provides for a severance payment if the Employment Agreement is terminated under certain conditions. The Employment Agreement contains a non-competition covenant from Mr. Haley in the Company’s and Medallion Bank’s favor.\n\n \n\nThe foregoing summary of the amended employment agreements for Mr. Donald Poulton and Mr. D. Justin Haley does not purport to be complete and is subject to, and qualified in its entirety, by the full text of such agreements, which are attached hereto as Exhibits 10.1 and 10.2 and incorporated herein by reference."}