MEDALLION FINANCIAL CORP
For the period ended Mar 31, 2024. Filed May 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 7, 2024
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ITEM 1A. RISK FACTORS
There have been no material changes in our risk factors from those disclosed in Part 1, Item 1A of our Annual Report on Form 10-K for the fiscal year ended December 31, 2023, which was filed with the Securities and Exchange Commission on March 7, 2024.
On April 29, 2022, our board of directors authorized a new stock repurchase program with no expiration date, pursuant to which we were authorized to repurchase up to $35 million of our shares, which was increased to $40 million on August 10, 2022, also with no expiration date. Such new repurchase program replaced the previous one, which was terminated. During the three months ended March 31, 2024, the Company repurchased 264,160 shares of its common stock at an aggregate cost of $2.1 million. Accordingly, as of March 31, 2024, up to $17,872,483 of shares remained authorized for repurchase under our stock repurchase program.
| Total Shares of Common Stock Repurchased | Average Price Paid per Share | TotalAmount Paid | Maximum Value of Shares Yet to Be Purchased | |
|---|---|---|---|---|
| January 1 - January 31 | — | $— | $— | $19,998,012 |
| February 1 - February 29 | 88,840 | 7.92 | 703,587 | 19,294,425 |
| March 1 - March 31 | 175,320 | 8.11 | 1,421,942 | 17,872,483 |
| Total | 264,160 | $8.05 | $2,125,529 | $17,872,483 |
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