[Form 4] Malibu Boats, Inc. Insider Trading Activity

Q: What return do the BMO Digital Return Buffer Notes provide at maturity?

Investors receive $1,104 per $1,000 note (a 10.40% gain) if the worst of the S&P 500, NASDAQ-100 or Russell 2000 ends at or above 85% of its initial level.

Q: How much principal protection do the notes offer?

The notes include a 15% buffer; losses begin only if the worst index is more than 15% below its initial level, after which loss is 1-for-1 down to an 85% maximum loss.

Q: When do the notes mature and what are the key dates?

Pricing Date: 27 Jun 2025; Settlement Date: 2 Jul 2025; Valuation Date: 29 Jul 2026; Maturity Date: 3 Aug 2026.

Q: Are the notes listed or tradable on an exchange?

No. The notes will not be listed; any resale depends on dealer quotes from BMOCM, which may be limited and at a discount.

Q: What is the estimated initial value versus the issue price?

BMO estimates the initial value at $981.99 per $1,000 note, below the $1,000 price, reflecting commissions and hedging costs.

Q: What are the U.S. federal tax considerations?

BMO intends to treat the notes as pre-paid derivative contracts; however, the IRS could assert a different treatment. Investors should consult tax advisors.

Filing Impact

(Low)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Bank of Montreal (BMO) is offering US$425,000 of Senior Medium-Term Notes, Series K – “Digital Return Buffer Notes” – maturing 3 August 2026. The notes are linked to the worst performer of three U.S. equity benchmarks: the S&P 500, NASDAQ-100 and Russell 2000 (each a “Reference Asset”).

Key economic terms:

Digital Return: 10.40% payable at maturity if the closing level of the Least Performing Reference Asset on 29 July 2026 (the Valuation Date) is ≥ 85% of its 27 June 2025 Initial Level (“Digital Barrier”).
Buffer: first 15% downside is absorbed. If the Least Performing Reference Asset drops >15%, principal is reduced point-for-point beyond the buffer, exposing investors to a maximum loss of 85%.
No periodic coupons; single payment at maturity.
Issue price: 100%; agent’s commission 0.375%; estimated initial value: $981.99 per $1,000, reflecting embedded fees and hedging costs.
Credit exposure: unsecured, unsubordinated obligations of BMO; CUSIP 06376EMN9; not FDIC or CDIC insured; not exchange-listed.

Illustrative payouts: any Final Level ≥ 85% triggers a fixed $1,104 per $1,000 note (10.40% gain). A Final Level of 80% returns $950 (-5%); 60% returns $750 (-25%); 0% returns $150 (-85%). Upside is capped at 10.40% irrespective of index performance.

Risk considerations include potential loss of up to 85% of principal, limited upside versus direct index exposure, secondary-market illiquidity (no listing; dealer market making discretionary), BMO credit risk, tax uncertainty (treated as prepaid derivative contracts), and a price-to-public that exceeds the bank’s modeled value.

The product may appeal to investors with a moderately bullish to sideways view on large-, mega- and small-cap U.S. equities over the next ~13 months who are willing to trade upside beyond 10.40% for a 15% buffer and accept issuer credit and liquidity risk.

La Bank of Montreal (BMO) offre Senior Medium-Term Notes per un valore di 425.000 USD, Serie K – “Digital Return Buffer Notes” – con scadenza il 3 agosto 2026. Le note sono collegate al peggior rendimento tra tre indici azionari statunitensi: S&P 500, NASDAQ-100 e Russell 2000 (ciascuno un “Asset di Riferimento”).

Termini economici principali:

Rendimento Digitale: 10,40% pagabile alla scadenza se il livello di chiusura dell’Asset di Riferimento meno performante al 29 luglio 2026 (Data di Valutazione) è ≥ 85% del suo livello iniziale del 27 giugno 2025 (“Barriera Digitale”).
Buffer: il primo 15% di ribasso è assorbito. Se l’Asset di Riferimento meno performante scende oltre il 15%, il capitale si riduce punto per punto oltre il buffer, esponendo gli investitori a una perdita massima dell’85%.
Assenza di cedole periodiche; pagamento unico alla scadenza.
Prezzo di emissione: 100%; commissione dell’agente 0,375%; valore iniziale stimato: 981,99 $ per 1.000 $, riflettendo costi incorporati e di copertura.
Esposizione creditizia: obbligazioni non garantite e non subordinate di BMO; CUSIP 06376EMN9; non assicurate FDIC o CDIC; non quotate in borsa.

Esempi di pagamenti: qualsiasi livello finale ≥ 85% attiva un pagamento fisso di 1.104 $ per ogni nota da 1.000 $ (guadagno del 10,40%). Un livello finale dell’80% restituisce 950 $ (-5%); 60% restituisce 750 $ (-25%); 0% restituisce 150 $ (-85%). Il guadagno massimo è limitato al 10,40% indipendentemente dalla performance degli indici.

Considerazioni sui rischi includono la possibile perdita fino all’85% del capitale, un upside limitato rispetto all’esposizione diretta agli indici, scarsa liquidità sul mercato secondario (assenza di quotazione; market making discrezionale), rischio di credito BMO, incertezza fiscale (trattati come contratti derivati prepagati) e un prezzo al pubblico superiore al valore stimato dalla banca.

Il prodotto può interessare investitori con una visione moderatamente rialzista o laterale sulle azioni statunitensi large-, mega- e small-cap per i prossimi ~13 mesi, disposti a rinunciare a un guadagno superiore al 10,40% in cambio di un buffer del 15% e accettare il rischio di credito dell’emittente e di liquidità.

Bank of Montreal (BMO) ofrece Notas Senior a Medio Plazo por US$425,000, Serie K – “Digital Return Buffer Notes” – con vencimiento el 3 de agosto de 2026. Las notas están vinculadas al peor desempeño entre tres índices bursátiles estadounidenses: S&P 500, NASDAQ-100 y Russell 2000 (cada uno un “Activo de Referencia”).

Términos económicos clave:

Retorno Digital: 10.40% pagadero al vencimiento si el nivel de cierre del Activo de Referencia con peor desempeño al 29 de julio de 2026 (Fecha de Valoración) es ≥ 85% de su nivel inicial del 27 de junio de 2025 (“Barrera Digital”).
Buffer: se absorbe la primera caída del 15%. Si el Activo de Referencia con peor desempeño cae más del 15%, el principal se reduce punto por punto más allá del buffer, exponiendo a los inversionistas a una pérdida máxima del 85%.
No hay cupones periódicos; pago único al vencimiento.
Precio de emisión: 100%; comisión del agente 0.375%; valor inicial estimado: $981.99 por cada $1,000, reflejando costos incorporados y de cobertura.
Exposición crediticia: obligaciones no garantizadas y no subordinadas de BMO; CUSIP 06376EMN9; no aseguradas por FDIC o CDIC; no listadas en bolsa.

Pagos ilustrativos: cualquier nivel final ≥ 85% activa un pago fijo de $1,104 por cada nota de $1,000 (ganancia del 10.40%). Un nivel final del 80% devuelve $950 (-5%); 60% devuelve $750 (-25%); 0% devuelve $150 (-85%). La ganancia máxima está limitada al 10.40% independientemente del desempeño del índice.

Consideraciones de riesgo incluyen la posible pérdida de hasta el 85% del principal, ganancia limitada en comparación con la exposición directa al índice, iliquidez en el mercado secundario (sin cotización; creación de mercado discrecional), riesgo crediticio de BMO, incertidumbre fiscal (tratado como contratos derivados prepagados) y un precio al público superior al valor estimado por el banco.

El producto puede atraer a inversores con una visión moderadamente alcista o lateral sobre acciones estadounidenses large-, mega- y small-cap durante los próximos ~13 meses que estén dispuestos a renunciar a ganancias superiores al 10.40% a cambio de un buffer del 15% y aceptar riesgos de crédito del emisor y de liquidez.

뱅크 오브 몬트리올(BMO)은 2026년 8월 3일 만기인 시리즈 K – “디지털 리턴 버퍼 노트”로 미화 425,000달러 규모의 선임 중기채권을 제공합니다. 이 노트는 미국 주식 벤치마크 세 가지 중 최악의 성과를 보이는 지수인 S&P 500, NASDAQ-100, 러셀 2000(각각 “기준 자산”)에 연동됩니다.

주요 경제 조건:

디지털 리턴: 2026년 7월 29일(평가일) 최저 성과 기준 자산의 종가가 2025년 6월 27일 초기 수준의 85% 이상(“디지털 배리어”)일 경우 만기 시 10.40% 지급.
버퍼: 최초 15% 하락분은 흡수. 최저 성과 기준 자산이 15% 이상 하락하면 버퍼를 초과하는 부분에 대해 원금이 점진적으로 감소하며, 최대 85% 손실 위험이 존재.
정기 쿠폰 없음; 만기 시 단일 지급.
발행가: 100%; 대리인 수수료 0.375%; 내재 비용 및 헤지 비용을 반영한 예상 초기 가치: $1,000당 981.99달러.
신용 노출: BMO의 무담보 비후순위 채무; CUSIP 06376EMN9; FDIC 또는 CDIC 보험 미적용; 거래소 미상장.

예시 지급금: 최종 수준이 85% 이상이면 $1,000 노트당 고정 $1,104 지급(10.40% 수익). 최종 수준 80%는 $950 지급(-5%); 60%는 $750 지급(-25%); 0%는 $150 지급(-85%). 수익 상한은 지수 성과와 무관하게 10.40%로 제한됨.

위험 고려사항에는 최대 85% 원금 손실 가능성, 지수 직접 노출 대비 제한된 상승 잠재력, 2차 시장 유동성 부족(상장 없음; 딜러 시장 조성 재량), BMO 신용 위험, 세금 불확실성(선불 파생상품 계약으로 간주), 은행 모델 가치 초과 공모가 등이 포함됩니다.

본 상품은 향후 약 13개월 동안 미국 대형, 초대형 및 소형주에 대해 다소 강세 또는 횡보 전망을 가진 투자자가 15% 버퍼와 발행자 신용 및 유동성 위험을 감수하는 대신 10.40% 이상의 수익을 포기할 의향이 있을 경우 매력적일 수 있습니다.

La Banque de Montréal (BMO) propose des billets à moyen terme senior d’un montant de 425 000 USD, série K – « Digital Return Buffer Notes » – arrivant à échéance le 3 août 2026. Ces billets sont liés à la performance la plus faible de trois indices boursiers américains : le S&P 500, le NASDAQ-100 et le Russell 2000 (chacun un « actif de référence »).

Principaux termes économiques :

Rendement numérique : 10,40% payable à l’échéance si le niveau de clôture de l’actif de référence le moins performant au 29 juillet 2026 (date d’évaluation) est ≥ 85 % de son niveau initial du 27 juin 2025 (« barrière numérique »).
Buffer : les premiers 15% de baisse sont absorbés. Si l’actif de référence le moins performant chute de plus de 15 %, le capital est réduit point par point au-delà du buffer, exposant les investisseurs à une perte maximale de 85 %.
Pas de coupons périodiques ; paiement unique à l’échéance.
Prix d’émission : 100 % ; commission de l’agent 0,375 % ; valeur initiale estimée : 981,99 $ par tranche de 1 000 $, reflétant les frais intégrés et les coûts de couverture.
Exposition au crédit : obligations non garanties et non subordonnées de BMO ; CUSIP 06376EMN9 ; non assurées par la FDIC ou la CDIC ; non cotées en bourse.

Exemples de paiements : tout niveau final ≥ 85 % déclenche un paiement fixe de 1 104 $ par billet de 1 000 $ (gain de 10,40 %). Un niveau final de 80 % restitue 950 $ (-5 %) ; 60 % restitue 750 $ (-25 %) ; 0 % restitue 150 $ (-85 %). Le gain maximal est plafonné à 10,40 % quelle que soit la performance des indices.

Considérations sur les risques incluent la perte potentielle allant jusqu’à 85 % du capital, un potentiel de hausse limité par rapport à une exposition directe aux indices, une illiquidité sur le marché secondaire (absence de cotation ; création de marché discrétionnaire), le risque de crédit BMO, une incertitude fiscale (traité comme des contrats dérivés prépayés) et un prix public supérieur à la valeur modélisée par la banque.

Ce produit peut intéresser les investisseurs ayant une vision modérément haussière à neutre sur les actions américaines large-, méga- et small-cap pour les ~13 prochains mois, prêts à renoncer à un gain supérieur à 10,40 % en échange d’un buffer de 15 % et à accepter le risque de crédit de l’émetteur ainsi que le risque de liquidité.

Die Bank of Montreal (BMO) bietet Senior Medium-Term Notes in Höhe von 425.000 USD, Serie K – „Digital Return Buffer Notes“ – mit Fälligkeit am 3. August 2026 an. Die Notes sind an die schlechteste Entwicklung von drei US-Aktienbenchmarks gekoppelt: S&P 500, NASDAQ-100 und Russell 2000 (jeweils ein „Referenzwert“).

Wesentliche wirtschaftliche Bedingungen:

Digitaler Ertrag: 10,40%, zahlbar bei Fälligkeit, wenn der Schlusskurs des am schlechtesten performenden Referenzwerts am 29. Juli 2026 (Bewertungstag) ≥ 85 % des Anfangsniveaus vom 27. Juni 2025 („Digitaler Schwellenwert“) beträgt.
Buffer: Die ersten 15% Abwärtsbewegung werden absorbiert. Fällt der am schlechtesten performende Referenzwert um mehr als 15 %, wird das Kapital punktgenau über den Buffer hinaus reduziert, wodurch Anleger einem maximalen Verlust von 85 % ausgesetzt sind.
Keine periodischen Kupons; Einmalzahlung bei Fälligkeit.
Ausgabepreis: 100 %; Vermittlerprovision 0,375 %; geschätzter Anfangswert: 981,99 $ pro 1.000 $, was eingebettete Gebühren und Absicherungskosten widerspiegelt.
Kreditrisiko: unbesicherte, nicht nachrangige Verbindlichkeiten von BMO; CUSIP 06376EMN9; nicht FDIC- oder CDIC-versichert; nicht börsennotiert.

Beispielhafte Auszahlungen: Ein Endstand ≥ 85 % löst eine feste Zahlung von 1.104 $ pro 1.000 $-Note aus (10,40 % Gewinn). Ein Endstand von 80 % zahlt 950 $ (-5 %); 60 % zahlt 750 $ (-25 %); 0 % zahlt 150 $ (-85 %). Die Gewinnobergrenze liegt bei 10,40 %, unabhängig von der Indexentwicklung.

Risikohinweise umfassen das potenzielle Risiko eines Verlusts von bis zu 85 % des Kapitals, begrenztes Aufwärtspotenzial im Vergleich zur direkten Indexexponierung, Illiquidität am Sekundärmarkt (keine Notierung; Market Making nach Ermessen), BMO-Kreditrisiko, steuerliche Unsicherheiten (Behandlung als vorausbezahlte Derivateverträge) und einen öffentlichen Preis, der über dem modellierten Wert der Bank liegt.

Das Produkt könnte für Anleger attraktiv sein, die eine moderat bullische bis seitwärts gerichtete Sicht auf Large-, Mega- und Small-Cap-Aktien in den USA für die nächsten ca. 13 Monate haben und bereit sind, auf ein Upside über 10,40 % zu verzichten, um einen 15 % Buffer zu erhalten und Emittenten-Kredit- sowie Liquiditätsrisiken zu akzeptieren.

Positive

10.40% fixed upside if worst-performing index finishes ≥ 85%, providing an above-market yield in a flat or modestly rising environment.
15% downside buffer mitigates moderate equity declines, offering partial capital protection compared with direct index exposure.
Short 13-month tenor limits long-term market and rate uncertainty.

Negative

Upside capped at 10.40%, materially underperforming equities if indices rally >10.4%.
Potential loss up to 85% of principal if the worst index falls more than 15%.
Issuer credit risk: payments depend solely on Bank of Montreal’s ability to pay.
Liquidity risk: no exchange listing; secondary market, if any, depends on BMOCM’s discretion at likely discounts.
Initial value below issue price ($981.99 vs $1,000) reflects embedded fees and hedging costs, creating negative carry from day one.

Insights

TL;DR Limited-term note offers 10.40% fixed upside with 15% buffer but significant tail-risk and BMO credit exposure.

The design is straightforward: a 13-month digital payoff contingent on the worst of three broad U.S. indices. Statistically, the 85% barrier provides moderate protection, yet historical drawdowns in small-caps (RTY) make breach plausible. Investors forfeit all upside beyond 10.40%, so risk-adjusted appeal depends on one’s view that a <15% decline is more likely than >10.4% appreciation. The 1.88-point markup (price – modeled value) plus 0.375% commission and potential 0.35% referral fee illustrate typical structured-note friction. An estimated breakeven occurs if the worst index ends between 84.999% and 90% of initial, where the buffer or digital feature marginally outperforms passive exposure. Net: product suits yield-seeking allocators comfortable with issuer risk; not compelling for growth-oriented investors.

TL;DR Attractive headline return, but capped upside, liquidity constraints and small-cap drag temper enthusiasm.

From a portfolio construction angle, the note behaves like a credit-linked call spread: long digital on worst-of basket, short equity upside beyond 10.4%, long put struck at 85%. Correlation among SPX/NDX/RTY means RTY dominates risk; historical vol ≈ 22% vs 15% (SPX) makes buffer less reliable. Duration just over a year mitigates rate risk but heightens reinvestment uncertainty. Lack of listing complicates exit; dealer bids likely 2–4 points under theoretical value, especially after the three-month temporary premium expires. I would size conservatively (<2% of total AUM) and treat as a tactical expression if one has high conviction of sideways markets. Impact on BMO’s credit profile is immaterial given size.

Termini economici principali:

Rendimento Digitale: 10,40% pagabile alla scadenza se il livello di chiusura dell’Asset di Riferimento meno performante al 29 luglio 2026 (Data di Valutazione) è ≥ 85% del suo livello iniziale del 27 giugno 2025 (“Barriera Digitale”).
Buffer: il primo 15% di ribasso è assorbito. Se l’Asset di Riferimento meno performante scende oltre il 15%, il capitale si riduce punto per punto oltre il buffer, esponendo gli investitori a una perdita massima dell’85%.
Assenza di cedole periodiche; pagamento unico alla scadenza.
Prezzo di emissione: 100%; commissione dell’agente 0,375%; valore iniziale stimato: 981,99 $ per 1.000 $, riflettendo costi incorporati e di copertura.
Esposizione creditizia: obbligazioni non garantite e non subordinate di BMO; CUSIP 06376EMN9; non assicurate FDIC o CDIC; non quotate in borsa.

Términos económicos clave:

Retorno Digital: 10.40% pagadero al vencimiento si el nivel de cierre del Activo de Referencia con peor desempeño al 29 de julio de 2026 (Fecha de Valoración) es ≥ 85% de su nivel inicial del 27 de junio de 2025 (“Barrera Digital”).
Buffer: se absorbe la primera caída del 15%. Si el Activo de Referencia con peor desempeño cae más del 15%, el principal se reduce punto por punto más allá del buffer, exponiendo a los inversionistas a una pérdida máxima del 85%.
No hay cupones periódicos; pago único al vencimiento.
Precio de emisión: 100%; comisión del agente 0.375%; valor inicial estimado: $981.99 por cada $1,000, reflejando costos incorporados y de cobertura.
Exposición crediticia: obligaciones no garantizadas y no subordinadas de BMO; CUSIP 06376EMN9; no aseguradas por FDIC o CDIC; no listadas en bolsa.

주요 경제 조건:

디지털 리턴: 2026년 7월 29일(평가일) 최저 성과 기준 자산의 종가가 2025년 6월 27일 초기 수준의 85% 이상(“디지털 배리어”)일 경우 만기 시 10.40% 지급.
버퍼: 최초 15% 하락분은 흡수. 최저 성과 기준 자산이 15% 이상 하락하면 버퍼를 초과하는 부분에 대해 원금이 점진적으로 감소하며, 최대 85% 손실 위험이 존재.
정기 쿠폰 없음; 만기 시 단일 지급.
발행가: 100%; 대리인 수수료 0.375%; 내재 비용 및 헤지 비용을 반영한 예상 초기 가치: $1,000당 981.99달러.
신용 노출: BMO의 무담보 비후순위 채무; CUSIP 06376EMN9; FDIC 또는 CDIC 보험 미적용; 거래소 미상장.

Principaux termes économiques :

Rendement numérique : 10,40% payable à l’échéance si le niveau de clôture de l’actif de référence le moins performant au 29 juillet 2026 (date d’évaluation) est ≥ 85 % de son niveau initial du 27 juin 2025 (« barrière numérique »).
Buffer : les premiers 15% de baisse sont absorbés. Si l’actif de référence le moins performant chute de plus de 15 %, le capital est réduit point par point au-delà du buffer, exposant les investisseurs à une perte maximale de 85 %.
Pas de coupons périodiques ; paiement unique à l’échéance.
Prix d’émission : 100 % ; commission de l’agent 0,375 % ; valeur initiale estimée : 981,99 $ par tranche de 1 000 $, reflétant les frais intégrés et les coûts de couverture.
Exposition au crédit : obligations non garanties et non subordonnées de BMO ; CUSIP 06376EMN9 ; non assurées par la FDIC ou la CDIC ; non cotées en bourse.

Wesentliche wirtschaftliche Bedingungen:

Digitaler Ertrag: 10,40%, zahlbar bei Fälligkeit, wenn der Schlusskurs des am schlechtesten performenden Referenzwerts am 29. Juli 2026 (Bewertungstag) ≥ 85 % des Anfangsniveaus vom 27. Juni 2025 („Digitaler Schwellenwert“) beträgt.
Buffer: Die ersten 15% Abwärtsbewegung werden absorbiert. Fällt der am schlechtesten performende Referenzwert um mehr als 15 %, wird das Kapital punktgenau über den Buffer hinaus reduziert, wodurch Anleger einem maximalen Verlust von 85 % ausgesetzt sind.
Keine periodischen Kupons; Einmalzahlung bei Fälligkeit.
Ausgabepreis: 100 %; Vermittlerprovision 0,375 %; geschätzter Anfangswert: 981,99 $ pro 1.000 $, was eingebettete Gebühren und Absicherungskosten widerspiegelt.
Kreditrisiko: unbesicherte, nicht nachrangige Verbindlichkeiten von BMO; CUSIP 06376EMN9; nicht FDIC- oder CDIC-versichert; nicht börsennotiert.

07/01/2025 - 04:30 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Connolly Michael

(Last)

(First)

(Middle)

5075 KIMBERLY WAY

(Street)

LOUDON

37774

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
MALIBU BOATS, INC. [ MBUU ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	07/01/2025		A⁽¹⁾⁽²⁾		636	A	$31.34	55,961⁽³⁾	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Pursuant to the Issuer's Directors' Compensation Policy (the "Policy"), directors may elect that their cash annual retainer be converted into either fully vested (i) shares of the Issuer's Class A Common Stock or (ii) rights to receive an award of stock units that will be paid on a deferred basis. In accordance with the reporting person's election, the reporting person was issued 636 stock units for the portion of the annual retainer earned for the quarterly period ended June 30, 2025.

2. The stock units are fully vested and payable in an equivalent number of shares of the Issuer's Class A Common Stock upon the first to occur of (A) the date of the reporting person's separation from service, (B) the occurrence of a change in control under the Issuer's Long-Term Incentive Plan or (C) an in-service distribution date elected by the reporting person (each, a "Payment Event"). The reporting person may elect whether amounts becoming payable shall be paid in a lump-sum within 30 days following the Payment Event, or in annual installments over a period of 5 years or 10 years.

3. Includes 4,297 stock units with vesting terms described in footnote 2 and 46,392 stock units that are fully vested and payable in an equivalent number of shares of the Issuer's Class A Common Stock upon or as soon as practicable, and in all events within 30 days, following the first to occur of (A) the date of the reporting person's separation from service or (B) the occurrence of a change in control under the Issuer's equity incentive plans.

Remarks:

	MICHAEL J. CONNOLLY /s/ Brooke Zinter as attorney-in-fact	07/01/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

What return do the BMO Digital Return Buffer Notes provide at maturity?

Investors receive $1,104 per $1,000 note (a 10.40% gain) if the worst of the S&P 500, NASDAQ-100 or Russell 2000 ends at or above 85% of its initial level.

How much principal protection do the notes offer?

The notes include a 15% buffer; losses begin only if the worst index is more than 15% below its initial level, after which loss is 1-for-1 down to an 85% maximum loss.

When do the notes mature and what are the key dates?

Pricing Date: 27 Jun 2025; Settlement Date: 2 Jul 2025; Valuation Date: 29 Jul 2026; Maturity Date: 3 Aug 2026.

Are the notes listed or tradable on an exchange?

No. The notes will not be listed; any resale depends on dealer quotes from BMOCM, which may be limited and at a discount.

What is the estimated initial value versus the issue price?

BMO estimates the initial value at $981.99 per $1,000 note, below the $1,000 price, reflecting commissions and hedging costs.

What are the U.S. federal tax considerations?

BMO intends to treat the notes as pre-paid derivative contracts; however, the IRS could assert a different treatment. Investors should consult tax advisors.

[Form 4] Malibu Boats, Inc. Insider Trading Activity

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What return do the BMO Digital Return Buffer Notes provide at maturity?

How much principal protection do the notes offer?

When do the notes mature and what are the key dates?

Are the notes listed or tradable on an exchange?

What is the estimated initial value versus the issue price?

What are the U.S. federal tax considerations?

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[Form 4] Malibu Boats, Inc. Insider Trading Activity

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FAQ

What return do the BMO Digital Return Buffer Notes provide at maturity?

How much principal protection do the notes offer?

When do the notes mature and what are the key dates?

Are the notes listed or tradable on an exchange?

What is the estimated initial value versus the issue price?

What are the U.S. federal tax considerations?

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