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Companies Medallion Financial Corp

Medallion Financial (MFIN): executive pay, fiscal 2025

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CEO total pay$5,716,187CEO Andrew Murstein · source
Say-on-pay support83.27%Latest vote · source
CEO vs. named peers79th pct.Of 14 peer CEOs
CEO pay ratio24:1To the median employee · source

CEO pay, last three years

  • $6,488,938FY2023
  • $4,998,720FY2024
  • $5,716,187FY2025

CEO total pay was $5,716,187 in fiscal 2025, up from $4,998,720 in fiscal 2024.

FY2025: salary $1,084,164 · bonus $0 · stock awards $2,400,000 · option awards $0

Executives and directors

Frequently asked questions

Who was the highest-paid executive at Medallion Financial Corp in fiscal 2025?
As disclosed, Andrew Murstein (President, Chief Executive Officer, Chief Operating Officer and Director) was the highest-paid executive at Medallion Financial Corp in fiscal 2025, with total compensation of $5,716,187.
How does Medallion Financial Corp's chief executive pay compare to its disclosed peer group?
As disclosed, Andrew Murstein's total compensation ranked at the 79th percentile of Medallion Financial Corp's disclosed peer group.
What is Medallion Financial Corp's CEO-to-median employee pay ratio?
As disclosed, Medallion Financial Corp's CEO-to-median employee pay ratio was 24:1.
How did shareholders vote on Medallion Financial Corp's executive compensation?
As disclosed, 83.27% of shareholders supported Medallion Financial Corp's executive compensation in the latest say-on-pay vote.
How much does Medallion Financial Corp spend in total on board compensation for fiscal 2025?
As disclosed, Medallion Financial Corp reported total board compensation of $1,486,883 for fiscal 2025.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

Full detail

Every table from the filing. Open any section.

Summary compensation table
Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Andrew Murstein$1,084,164$0$2,400,000$0$2,141,577$0$90,446$5,716,187
President, Chief Executive Officer, Chief Operating Officer and Director
Alvin Murstein954,0000398,32701,071,7400149,7512,573,818
Executive Chairman and Director
Donald Poulton486,9990590,6300885,186027,3241,990,139
Chief Executive Officer of Medallion Bank
Anthony Cutrone406,0000492,1920605,290011,7501,515,232
Executive Vice President and Chief Financial Officer
D. Justin Haley355,6000349,4380523,477014,2871,242,802
President of Medallion Bank

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
Andrew Murstein$5,716,187$4,998,720$6,488,938↑ +717,467
Alvin Murstein2,573,8182,632,3453,078,505↓ −58,527
Donald Poulton1,990,1391,546,6722,223,020↑ +443,467
Anthony Cutrone1,515,2321,508,8971,858,130↑ +6,335
D. Justin Haley1,242,8021,009,4041,260,201↑ +233,398

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

Incentive-plan design — the Compensation Discussion & Analysis

The Company's compensation program is designed to attract, motivate, reward and retain the colleagues who lead the business by establishing compensation levels that tie annual and long-term incentives to the achievement of measurable corporate, business unit, and individual performance objectives, thereby aligning executives' incentives with shareholder value creation.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantMeridian Compensation Partners, LLC
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingfalse
Equity grants and outstanding awards

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Alvin MursteinPSU2025-02-1311,75723,51423,51447,028$199,164
Anthony CutronePSU2025-02-1314,52829,05529,05558,110246,096
Donald PoultonPSU2025-02-1317,43334,86634,86669,732295,315
Andrew M. MursteinPSU2025-02-1394,451188,90294,451377,804800,000
D. Justin HaleyPSU2025-02-1310,31420,62820,62841,256174,719

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Alvin Murstein$0$199,164$0100.0%
Anthony Cutrone0246,0960100.0%
Donald Poulton0295,3150100.0%
Andrew M. Murstein0800,0000100.0%
D. Justin Haley0174,7190100.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
D. Justin HaleyRSU4,462—$45,914
MursteinRSU8,216—84,543
Anthony CutroneRSU9,669—99,494
Donald PoultonRSU11,603—119,395
D. Justin HaleyRSU12,985—133,616
MursteinRSU14,802—152,313
D. Justin HaleyPSU16,252—167,231
Anthony CutroneRSU18,290—188,204
MursteinPSU18,526—190,630
D. Justin HaleyRSU20,628—212,262
D. Justin HaleyPSU21,475—220,978
Donald PoultonRSU21,948—225,845
Anthony CutronePSU22,892—235,554
MursteinRSU23,514—241,959
MursteinPSU24,478—251,879
Donald PoultonPSU27,471—282,677
Anthony CutroneRSU29,055—298,975
Anthony CutronePSU30,248—311,252
Donald PoultonRSU34,866—358,771
Donald PoultonPSU36,299—373,517
MursteinRSU36,899—379,691
D. Justin HaleyPSU39,152—402,875
MursteinRSU66,476—684,038
MursteinPSU72,104—741,949
Anthony CutronePSU84,858—873,192
MursteinRSU94,451—971,901
Donald PoultonPSU101,832—1,047,850
MursteinPSU109,952—1,131,406
MursteinPSU148,841—1,531,569
MursteinPSU323,870—3,332,627
Director compensation
DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Brent O. HatchIndependent · Lead Independent Director · Audit · Nominating and Governance · Investment Oversight$130,111$125,002——$30,000$285,113
Robert M. MeyerIndependent · Audit (Chair) · Compensation · Nominating and Governance102,078125,002——30,000257,080
John EveretsIndependent · Audit · Compensation · Investment Oversight102,750125,002——20,000247,752
David L. RudnickNot independent · Investment Oversight (Chair)102,000125,002——6,000233,002
Cynthia A. HallenbeckIndependent · Audit · Nominating and Governance (Chair) · Investment Oversight107,104125,002——0232,106
Allan J. TanenbaumIndependent · Compensation (Chair) · Nominating and Governance · Investment Oversight106,828125,002——0231,830
Andrew M. MursteinEmployee director · Investment Oversight—————0
Marisa T. SilvermanNot independent · Partial-year service · Newly elected—————0
Alvin MursteinEmployee director · Board Chair · Investment Oversight——————

Board fee structure and ownership guideline

Annual cash retainer$65,000
Annual equity retainer$125,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)22,500 / 15,000 / 13,000
Stock ownership guideline$325,000

Total cost of the board

ComponentFY2025
Cash retainers and fees$650,871
Equity awards (grant-date value)$750,012
All other compensation$86,000
Total cost of the board$1,486,883

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

Peer group, and who names Medallion Financial as a peer

Companies that benchmark against MFIN

6 companies name MFIN as a compensation peer

The list of companies that name MFIN as a peer is temporarily unavailable — recheck shortly.

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

Peer reciprocity

The companies Medallion Financial Corp names as compensation peers that name it back in their own disclosed peer groups.

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company’s own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Willis Lease Finance Corporation2025Austin Willis$850,662$14,637,060$0$0$19,209,005
2MoneyLion Inc.2023Diwakar Choubey650,0004,848,284006,595,566
3Ezcorp, Inc.2025Lachlan Given750,0003,472,92001,530,0005,885,735
4Medallion Financial Corp2025Andrew Murstein1,084,1642,400,00002,141,5775,716,187
5Consumer Portfolio Services, Inc.2025Charles Bradley995,00001,139,7903,283,5005,439,647
6PRA Group Inc.2025Martin Sjolund746,8293,312,3930827,7814,938,095
7LendingTree, Inc.2025Scott Peyree507,3083,848,9750521,9094,888,692
8Regional Management Corp.2025Robert Beck680,0002,999,99501,021,0204,824,409
9Metropolitan Bank Holding Corp.2025Mark DeFazio1,000,0002,549,97201,200,0004,784,685
10The Bancorp, Inc.2025Damian Kozlowski1,000,0002,500,0001,000,00004,528,622
11Oportun Financial Corporation2025Raul Vazquez716,1552,862,0000749,7004,327,855
12Curo Group Holdings Corp.2022Douglas Clark613,9422,421,890——3,565,298
13World Acceptance Corporation2026J. Tobin Turner364,6622,564,635002,961,396
14FinWise Bancorp2025James Noone513,9661,297,694002,470,895
15Arrow Financial Corporation2025David DeMarco715,850243,2650379,4011,572,406

Each peer’s compensation is from its most recently filed proxy; fiscal years differ by company. Each peer’s figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Medallion Financial Corpnot disclosedRSU 50 · PSU 50NoMeridian Compensation Partners, LLC
Arrow Financial Corporation106%Restricted Stock 100not disclosedPearl Meyer & Partners, LLC
Consumer Portfolio Services, Inc.not disclosedOption 100not disclosednot disclosed
Curo Group Holdings Corp.not disclosedPSU 50 · RSU 50not disclosedSemler Brossy Consulting Group, LLC
Ezcorp, Inc.not disclosedPRSU 80 · RSU 20not disclosedMercer (US) Inc.
FinWise Bancorpnot disclosedRSU 100NoHunt Financial Group
LendingTree, Inc.119%RSU 50 · PSU 50NoFW Cook
Metropolitan Bank Holding Corp.not disclosednot disclosedNoFrederic W. Cook & Co., Inc.
MoneyLion Inc.not disclosednot disclosedNonot disclosed
Oportun Financial Corporationnot disclosedRSU 60 · PSU 40not disclosedWillis Towers Watson
PRA Group Inc.not disclosedPSU 50 · RSU 50Yes — Relative TSRPearl Meyer
Regional Management Corp.100.1%PSU 50 · RSU 50Yes — relative TSRFrederic W. Cook & Co., Inc. (FW Cook)
The Bancorp, Inc.not disclosednot disclosednot disclosedPay Governance LLC
Willis Lease Finance Corporationnot disclosedPSU 60 · RSU 40not disclosedExequity, LLP
World Acceptance Corporationnot disclosednot disclosedNonot disclosed

Read from each company’s Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company’s filing does not state the item.

Say-on-pay history and pay ratio
Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-06-0914,202,1062,854,013363,83083.27%Passed
20252025-06-1212,738,0042,172,13148,67985.43%Passed
20242024-06-1111,762,7454,120,011152,46574.06%Passed
20232023-06-2211,348,9111,324,02898,02389.55%Passed
20222022-06-1411,240,4133,523,74459,02776.13%Passed
20212021-06-1711,217,7214,881,62957,14969.68%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year’s compensation.

Say-on-pay — history, company’s computation

Meeting yearMeeting dateApproval — company’s computation
20262026-06-0983.27%a
20252025-06-1285.43%b
20242024-06-1174.06%c

a. Approved under the standard stated in the filing — “As described in the below amendments, abstentions, as well as broker non-votes, will have no impact on the outcome of the vote on the proposals.”.

b. Approved under the standard stated in the filing — “As described in the below amendments, abstentions, as well as broker non-votes, will have no impact on the outcome of the vote on the proposals.”.

c. Approved under the standard stated in the filing — “Abstentions and broker non-votes will be considered as present for quorum purposes but will not be counted as votes cast.”.

Approval percentages are the company’s own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

CEO pay ratio

Ratio (CEO : median employee)24 : 1
CEO total compensation$2,573,818
Median employee compensation$105,406
Insider trades since the proxy

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
David L. RudnickDirector2026-06-09A12,981$0$0Derivative, Class A CommonForm 4 ↗
John EveretsDirector2026-06-09A12,98100Derivative, Class A CommonForm 4 ↗
Cynthia A. HallenbeckDirector2026-06-09A12,98100Derivative, Class A CommonForm 4 ↗
Brent O. HatchDirector2026-06-09A12,98100Derivative, Class A CommonForm 4 ↗
Allan J. TanenbaumDirector2026-06-09A12,98100Derivative, Class A CommonForm 4 ↗
Robert M. MeyerDirector2026-06-09A12,98100Derivative, Class A CommonForm 4 ↗
Donald PoultonSee Remarks2026-06-25D40,77010406,477CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

Sources (49 citations)

Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.

  • Section 01, Andrew Murstein. DEF 14A, filed 2026-04-30. Section “Summary Compensation Table” · page 37. As printed: 5,716,187. View filing ↗
  • Section 01, Alvin Murstein. DEF 14A, filed 2026-04-30. Section “Summary Compensation Table” · page 37. As printed: 2,573,818. View filing ↗
  • Section 01, Donald Poulton. DEF 14A, filed 2026-04-30. Section “Summary Compensation Table” · page 37. As printed: 1,990,139. View filing ↗
  • Section 01, Anthony Cutrone. DEF 14A, filed 2026-04-30. Section “Summary Compensation Table” · page 37. As printed: 1,515,232. View filing ↗
  • Section 01, D. Justin Haley. DEF 14A, filed 2026-04-30. Section “Summary Compensation Table” · page 37. As printed: 1,242,802. View filing ↗
  • Section 03, Alvin Murstein PSU. DEF 14A, filed 2026-04-30. Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Anthony Cutrone PSU. DEF 14A, filed 2026-04-30. Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Donald Poulton PSU. DEF 14A, filed 2026-04-30. Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Andrew M. Murstein PSU. DEF 14A, filed 2026-04-30. Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, D. Justin Haley PSU. DEF 14A, filed 2026-04-30. Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 07, pay ratio. DEF 14A, filed 2026-04-30. Section “CEO Pay Ratio”. As printed: 24 : 1. View filing ↗
  • Section 08, Brent O. Hatch. DEF 14A, filed 2026-04-30. Section “Director Compensation”. As printed: 285,113. View filing ↗
  • Section 08, Robert M. Meyer. DEF 14A, filed 2026-04-30. Section “Director Compensation”. As printed: 257,080. View filing ↗
  • Section 08, John Everets. DEF 14A, filed 2026-04-30. Section “Director Compensation”. As printed: 247,752. View filing ↗
  • Section 08, David L. Rudnick. DEF 14A, filed 2026-04-30. Section “Director Compensation”. As printed: 233,002. View filing ↗
  • Section 08, Cynthia A. Hallenbeck. DEF 14A, filed 2026-04-30. Section “Director Compensation”. As printed: 232,106. View filing ↗
  • Section 08, Allan J. Tanenbaum. DEF 14A, filed 2026-04-30. Section “Director Compensation”. As printed: 231,830. View filing ↗
  • Section 08, Andrew M. Murstein. DEF 14A, filed 2026-04-30. Section “Director Compensation”. As printed: 0. View filing ↗
  • Section 08, Marisa T. Silverman. DEF 14A, filed 2026-04-30. Section “Director Compensation”. As printed: 0. View filing ↗
  • Section 08, Alvin Murstein. DEF 14A, filed 2026-04-30. Section “Director Compensation”. As printed: —. View filing ↗
  • Section 02, David L. Rudnick 2026-06-09. Form 4, filed 2026-06-10. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, John Everets 2026-06-09. Form 4, filed 2026-06-10. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Cynthia A. Hallenbeck 2026-06-09. Form 4, filed 2026-06-10. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Brent O. Hatch 2026-06-09. Form 4, filed 2026-06-10. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Allan J. Tanenbaum 2026-06-09. Form 4, filed 2026-06-10. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Robert M. Meyer 2026-06-09. Form 4, filed 2026-06-10. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Donald Poulton 2026-06-25. Form 4, filed 2026-06-26. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 06, 2026 vote. Form 8-K, filed 2026-06-12. Item 5.07 · say-on-pay result. As reported: 83.27% (votes for as printed: 14,202,106). View filing ↗
  • Section 06, 2025 vote. Form 8-K, filed 2025-06-12. Item 5.07 · say-on-pay result. As reported: 85.43% (votes for as printed: 12,738,004). View filing ↗
  • Section 06, 2024 vote. Form 8-K, filed 2024-06-14. Item 5.07 · say-on-pay result. As reported: 74.06% (votes for as printed: 11,762,745). View filing ↗
  • Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
  • Section 03b vehicle mix (computed). Computed. RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
  • Section 09b board cost (computed). Computed. Cash 650,871 + equity 750,012 + all other 86,000 = 1,486,883, summed across the director compensation table rows.
  • Willis Lease Finance Corporation, Section 10b CEO total. DEF 14A, filed 2026-04-24. CEO total compensation as printed in Willis Lease Finance Corporation's own proxy. As printed: 19,209,005. View filing ↗
  • MoneyLion Inc., Section 10b CEO total. DEF 14A, filed 2024-04-29. CEO total compensation as printed in MoneyLion Inc.'s own proxy. As printed: 6,595,566. View filing ↗
  • Ezcorp, Inc., Section 10b CEO total. 10-K, filed 2025-11-13. CEO total compensation as printed in Ezcorp, Inc.'s own proxy. As printed: 5,885,735. View filing ↗
  • Medallion Financial Corp (subject), Section 10b CEO total. DEF 14A, filed 2026-04-30. CEO total compensation as printed in Medallion Financial Corp's own proxy. As printed: 5,716,187. View filing ↗
  • Consumer Portfolio Services, Inc., Section 10b CEO total. DEF 14A, filed 2026-09-30. CEO total compensation as printed in Consumer Portfolio Services, Inc.'s own proxy. As printed: 5,439,647. View filing ↗
  • PRA Group Inc., Section 10b CEO total. DEF 14A, filed 2026-04-30. CEO total compensation as printed in PRA Group Inc.'s own proxy. As printed: 4,938,095. View filing ↗
  • LendingTree, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-27. CEO total compensation as printed in LendingTree, Inc.'s own proxy. As printed: 4,888,692. View filing ↗
  • Regional Management Corp., Section 10b CEO total. DEF 14A, filed 2026-04-09. CEO total compensation as printed in Regional Management Corp.'s own proxy. As printed: 4,824,409. View filing ↗
  • Metropolitan Bank Holding Corp., Section 10b CEO total. DEF 14A, filed 2026-03-20. CEO total compensation as printed in Metropolitan Bank Holding Corp.'s own proxy. As printed: 4,784,685. View filing ↗
  • The Bancorp, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-13. CEO total compensation as printed in The Bancorp, Inc.'s own proxy. As printed: 4,528,622. View filing ↗
  • Oportun Financial Corporation, Section 10b CEO total. DEF 14A, filed 2026-06-29. CEO total compensation as printed in Oportun Financial Corporation's own proxy. As printed: 4,327,855. View filing ↗
  • Curo Group Holdings Corp., Section 10b CEO total. DEF 14A, filed 2023-04-28. CEO total compensation as printed in Curo Group Holdings Corp.'s own proxy. As printed: 3,565,298. View filing ↗
  • World Acceptance Corporation, Section 10b CEO total. DEF 14A, filed 2026-07-22. CEO total compensation as printed in World Acceptance Corporation's own proxy. As printed: 2,961,396. View filing ↗
  • FinWise Bancorp, Section 10b CEO total. DEF 14A, filed 2026-04-28. CEO total compensation as printed in FinWise Bancorp's own proxy. As printed: 2,470,895. View filing ↗
  • Arrow Financial Corporation, Section 10b CEO total. DEF 14A, filed 2026-04-23. CEO total compensation as printed in Arrow Financial Corporation's own proxy. As printed: 1,572,406. View filing ↗
  • Section 10a, Regional Management Corp. reciprocity. DEF 14A. Regional Management Corp. names Medallion Financial Corp in its own disclosed peer group (read from its most recent proxy). View filing ↗
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