Thomas Munson

About Thomas Munson

Thomas J. Munson, 42, is Executive Vice President and Chief Credit Officer at Medallion Financial Corp., a role he has held since April 2017. He joined Medallion in October 2012 (Vice President, Medallion Financial Corp.; Senior Vice President, Medallion Funding LLC), previously serving as a Vice President in Valley National Bank’s Middle Market/Commercial Lending Group. He holds a B.S. in finance (minor in economics) from The University of Scranton and an MBA from Long Island University . Company performance in 2024 included net income of $35.9M, net interest income up 8% to $202.5M, total loans up 12% to $2.5B, and total assets up 11% to $2.9B; the company also increased its quarterly dividend to $0.11 and originated over $1B of loans for the first time in its history .

Past Roles

Equity Ownership & Alignment

• Stock ownership guidelines apply to all executive officers; Tier multiples are set at 5x (Tier 1), 2x (Tier 2), and 1x (Tier 3) annual base salary; non-employee directors: 3x annual cash retainer. Shares counting toward compliance include outright holdings, certain restricted stock/RSUs, and vested in-the-money options. As of March 31, 2025, all officers and directors were disclosed to be in compliance .

• Hedging policy prohibits short sales, margin purchases, and company-based derivative securities; holding/exercising stock options under company plans is permitted .
• Beneficial ownership and vested/unvested breakdowns for Munson specifically were not disclosed in the 2025 proxy; the management beneficial ownership table lists NEOs and directors, not Munson .

Employment Terms

• No Munson-specific employment agreement or severance/change-of-control terms were disclosed in the 2025 proxy. The company enters into employment agreements with NEOs when necessary (e.g., CFO, Medallion Bank executives; Murstein family executives), with provisions for severance, change-of-control, and equity vesting; these are approved by the Compensation Committee .
• The company maintains an Amended and Restated Compensation Recoupment (clawback) Policy covering all executive officers for certain accounting restatements, administered by the Compensation Committee in compliance with Exchange Act Section 10D and Nasdaq Rule 5608 .

Performance & Track Record

Company performance context relevant to Munson’s credit oversight:

Investment Implications

• Alignment: Company-wide stock ownership guidelines and anti-hedging rules indicate alignment and limit aggressive short-term trading/hedging by executives; disclosure states all officers/directors are in compliance, which supports reduced selling pressure and better alignment for executives including Munson .
• Retention risk: Munson’s long tenure (since 2012; CCO since 2017) suggests stability in Medallion’s credit leadership; absence of a disclosed individual employment agreement means severance/change-of-control specifics for Munson are unknown, unlike the detailed NEO agreements, limiting visibility into retention economics .
• Performance linkage: The company’s NEO incentive design uses PTI and ROE over a 3-year performance period for PSUs; while Munson’s individual incentive metrics are not disclosed, the organizational focus on ROE and PTI implies credit performance quality is a key lever influencing executive incentives and capital allocation decisions .
• Trading signals: With all officers/directors in ownership guidelines compliance and a strict hedging policy, forced selling is less likely; monitor future proxies and any Form 4 filings for Munson to assess incremental ownership changes and potential selling pressure, noting no Munson-specific beneficial ownership was disclosed in the 2025 proxy .