Medallion announces Glass Lewis recommends vote ‘FOR’ director nominees

Medallion Financial announced that independent proxy advisory firm Glass, Lewis & Co. has recommended that Medallion shareholders vote on the BLUE proxy card “FOR” ONLY the candidates nominated by the Board of Directors, Robert M. Meyer and David L. Rudnick and “FOR” the advisory vote on the compensation of the Company’s named executive officers in connection with the Company’s 2024 Annual Meeting of Shareholders. In its June 3, 2024, report, Glass Lewis commented: “Financially, it appears to us that the Company’s overall performance, as measured by TSR and other metrics detailed above, has been in line with or better than its peers …On review of certain operating metrics of the Company as a whole, as well as of its consumer lending business lines, which represent a major part of the Company’s revenues in the past years, we believe the Company’s performance was largely in line with or better than its peers…. we believe it may be reasonable for shareholders to afford the current board with discretion and flexibility to execute on the Company’s current strategy at this time….we believe the board has highlighted valid potential concerns regarding the independence of the Dissident Nominees given their current employment with a significant debtholder and an industry competitor.”