MEDALLION FINANCIAL CORP — Director's Dealing 2011

May 9, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MEDALLION FINANCIAL CORP (TAXI)
CIK: 0001000209
Period of Report: 2011-05-09

Reporting Person: KOWALSKY MICHAEL J (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-05-09	Common Stock	M	6000	$4.85	Acquired	18601	Direct
2011-05-09	Common Stock	S	3823	$9.10	Disposed	14778	Direct
2011-05-09	Common Stock	S	77	$9.11	Disposed	14701	Direct
2011-05-09	Common Stock	S	100	$9.12	Disposed	14601	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-05-09	Common Stock (right to buy)	$4.85	M	6000	Disposed	2012-06-11	Common Stock (6000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2458	Indirect

Footnotes

F1: These shares are held by Fidelity Investments in an Individual Retirement Account for the benefit of Michael J. Kowalsky.

F2: One-third of the options vested on the first, second and third anniversaries of the date of grant. All options have fully vested.