Medallion Financial CEO Murstein Amends 13D Filing
Ticker: MBNKO · Form: SC 13D/A · Filed: Feb 21, 2024 · CIK: 1000209
| Field | Detail |
|---|---|
| Company | Medallion Financial Corp (MBNKO) |
| Form Type | SC 13D/A |
| Filed Date | Feb 21, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.01, $998,539, $496,885 |
| Sentiment | neutral |
Sentiment: neutral
Topics: insider-ownership, amendment, corporate-governance
TL;DR
**Medallion Financial CEO Alvin Murstein just updated his ownership stake, keep an eye on insider moves!**
AI Summary
Alvin Murstein, Chairman and CEO of Medallion Financial Corp., filed an Amendment No. 20 to Schedule 13D on February 21, 2024, regarding his beneficial ownership of Medallion Financial Corp. Common Stock. The filing updates information related to his holdings in the company, which has a CUSIP number of 583928106.
Why It Matters
This filing indicates a change in beneficial ownership information for a key executive, which can signal shifts in insider confidence or control within Medallion Financial Corp.
Risk Assessment
Risk Level: low — This is an informational filing updating beneficial ownership, not indicating a significant new transaction or immediate risk.
Key Numbers
- 583928106 — CUSIP Number (Identifies Medallion Financial Corp.'s Common Stock)
- 0001000209 — Central Index Key (Identifies Medallion Financial Corp.)
- 0001000210 — Central Index Key (Identifies Alvin Murstein)
- 20 — Amendment Number (Indicates this is the 20th amendment to the Schedule 13D)
- $0.01 — Par Value (Par value of Medallion Financial Corp. Common Stock)
Key Players & Entities
- Alvin Murstein (person) — Chairman and Chief Executive Officer of Medallion Financial Corp.
- Medallion Financial Corp. (company) — Issuer of the securities
- Marisa T. Silverman (person) — Chief Compliance Officer and General Counsel of Medallion Financial Corp.
- February 21, 2024 (date) — Filing date of the SC 13D/A
- Amendment No. 20 (other) — Specific amendment number to the Schedule 13D
FAQ
Who filed this SC 13D/A Amendment No. 20?
Alvin Murstein, Chairman and Chief Executive Officer of Medallion Financial Corp., filed this Amendment No. 20 to Schedule 13D.
What is the subject company of this filing?
The subject company is Medallion Financial Corp., with a CUSIP Number of 583928106 for its Common Stock, $0.01 Par Value.
What is the purpose of an SC 13D/A filing?
An SC 13D/A is an amendment to a Schedule 13D, which is filed to report beneficial ownership of more than 5% of a class of a company's voting securities, updating previous information.
When was this specific amendment filed?
This Amendment No. 20 was filed on February 21, 2024, with the date as of change also being February 21, 2024.
Who is authorized to receive notices and communications regarding this filing?
Alvin Murstein, Chairman and Chief Executive Officer, and Marisa T. Silverman, Chief Compliance Officer and General Counsel, both of Medallion Financial Corp., are authorized to receive notices and communications.
Filing Stats: 961 words · 4 min read · ~3 pages · Grade level 9 · Accepted 2024-02-21 16:14:09
Key Financial Figures
- $0.01 — ORP. (Name of Issuer) Common Stock, $0.01 Par Value (Title of Class of Securiti
- $998,539 — pouse were purchased with approximately $998,539 of personal funds; the 1,358,300 shares
- $496,885 — stee, were purchased with approximately $496,885 of funds of the Trust. ITEM5. INTERE
Filing Documents
- d779285dsc13da.htm (SC 13D/A) — 29KB
- 0001193125-24-041464.txt ( ) — 30KB
is hereby amended and restated in its entirety as follows
Item 3 is hereby amended and restated in its entirety as follows: The 274,800 shares of Common Stock held directly by Mr. Murstein, the 117,660 shares of Common Stock held by the Aileen J. Murstein Family 2012 Trust and the 5,000 shares of Common Stock held directly by Mr. Mursteins spouse were purchased with approximately $998,539 of personal funds; the 1,358,300 shares of Common Stock held by the Alvin Murstein Second Family Trust (the Trust), of which Mr. Murstein is a trustee, were purchased with approximately $496,885 of funds of the Trust. ITEM5. INTEREST IN SECURITIES OF THE ISSUER . Items 5(a) and 5(c) are hereby amended and restated in their entirety as follows: (a) As of the close of business on February 16, 2024, Mr. Murstein was the beneficial owner of 1,851,449 (including 95,689 shares which may be acquired upon the exercise of stock options). Such shares constituted approximately 7.89% of 23,363,731 shares outstanding as of November 3, 2023 as reported on the cover page to the Companys Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2023. (c) Mr. Murstein has affected the following transaction in the Common Stock during the last sixty days: On February 16, 2024, Mr. Murstein received 22,203 restricted shares of Common Stock awarded under the Medallion Financial Corp. 2018 Equity Incentive Plan which will vest in equal one-third increments on March 1, 2025, March 1, 2026 and March 1, 2027. On February 17, 2024, Medallion Financial Corp. withheld 2,340 of Mr. Mursteins restricted shares of Common Stock to satisfy tax obligations arising upon vesting of restricted stock award granted previously under the Medallion Financial Corp. 2018 Equity Incentive Plan in a transaction exempt under Rule 16b-3 under the Securities Exchange Act of 1934. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dat