Medallion Financial urges vote against ZimCal activist push for above-market debt buyout at June 9 meeting

Medallion Financial Corp.

Medallion Financial Corp.

MFIN

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  • Medallion shareholders face a renewed proxy fight ahead of the June 9 annual meeting, marking Stephen Hodges’ third campaign in three years.
  • Management urged holders to vote the WHITE universal proxy card for its three nominees, opposing ZimCal’s slate for three of eight board seats.
  • The company framed ZimCal as a debt-driven activist seeking a premium buyout of trust preferred securities, citing a demand of about $6.5 million.
  • Medallion said Hodges held 3,010 shares when he nominated directors in December 2025, later building a 2.1% stake, with 0.8% eligible to vote.
  • Management warned ZimCal’s nominees lack relevant consumer lending or bank regulatory experience, highlighting alleged governance and value-destruction concerns around Eric Kelly.


Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Medallion Financial Corporation published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202606041450PRIMZONEFULLFEED9732122) on June 04, 2026, and is solely responsible for the information contained therein.

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