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Mayville Engineering Company SVP Craig D. Nichols reported routine equity compensation activity. Nichols exercised restricted stock units into 5,808 shares of common stock, with 1,662 of those shares withheld at $16.67 per share to cover tax obligations, leaving 4,146 shares held directly. He also received a new award of 14,998 restricted stock units. Footnotes state the restricted stock units vest in three equal annual installments on March 15 of 2026, 2027 and 2028, and in a separate three-year schedule on March 15 of 2027, 2028 and 2029. Nichols additionally has 1,134 shares held indirectly through a 401(k) plan.
Mayville Engineering Company, Inc. senior vice president Sean P. Leuba reported compensation-related equity activity involving restricted stock units and common stock on March 15, 2026. He exercised restricted stock units to acquire 11,909 shares of common stock at a conversion price of $0.00 per share.
To cover tax obligations, 5,277 common shares were disposed of at $16.67 per share through share withholding, rather than an open‑market sale. He also received a new grant of 13,498 restricted stock units, and held 18,473 common shares directly after the transactions. A stock option award remains outstanding for 21,552 underlying shares at an exercise price of $16.22 per share, expiring on February 28, 2033. Footnotes state the restricted stock units vest in equal annual installments across 2025–2029, and the options vest 50% on each of February 28, 2024 and February 28, 2025.
Mayville Engineering Company Chief Financial Officer Rachele Marie Lehr reported compensation-related equity transactions. On March 15, 2026, she exercised restricted stock units into 14,368 shares of common stock through two conversions of 8,560 and 5,808 units, at a stated price of $0.00 per unit.
She also received a new grant of 16,497 restricted stock units, which will vest in three equal installments on March 15, 2027, 2028 and 2029. To cover tax obligations, 4,600 shares of common stock were withheld at $16.67 per share.
After these transactions, Lehr directly holds 30,529 shares of common stock and 16,497 restricted stock units. She also has a stock option outstanding for 24,814 shares of common stock at an exercise price of $14.12 per share, expiring on February 28, 2033.
Mayville Engineering Company, Inc. is asking shareholders to vote at its April 21, 2026 virtual annual meeting on electing three directors for terms ending in 2029, ratifying Deloitte & Touche LLP as independent auditor for 2026, and approving 2025 executive pay on an advisory basis.
Shareholders of record as of February 20, 2026, when 20,318,370 common shares were outstanding, may vote online, by phone, mail, or during the meeting. The Board remains majority independent with a separate non-executive Chair and three key committees (Audit, Compensation, Nominating & Governance) composed of independent directors.
In 2025, the company faced demand softness and completed the Accu-Fab acquisition to expand in Data Center & Critical Power markets. Annual incentive bonuses for named executives paid at 0% of target after company performance fell below threshold EBITDA and free cash flow goals, while long-term incentives shifted to a 50% performance stock unit, 50% restricted stock unit mix. One-time cash awards tied to the Accu-Fab deal, including $370,000 for the CEO and $150,000 for the CFO, were approved in March 2026 for payment in 2026.
Mayville Engineering Company, Inc. insider Sean P. Leuba, the company’s GC & Secretary, reported open-market sales of company stock on March 5, 2026. He sold 2,500 shares of common stock indirectly through an ESOP/401(k) at $20.07 per share and 6,698 shares directly at $18.81 per share, for total reported sales of 9,198 shares.
After these transactions, Leuba directly holds 11,841 common shares and maintains equity awards, including 14,526 and 13,938 restricted stock units that vest in annual thirds through March 2027 and March 2028, and 21,552 stock options that vest in two equal installments on February 28, 2024 and 2025.
Mayville Engineering Company, Inc. (MEC) files its annual report describing a diversified, U.S.-based contract manufacturing business serving heavy- and medium-duty commercial vehicles, construction & access equipment, powersports, data center & critical power, agriculture and military markets through 27 facilities and roughly 2,400 employees.
The company emphasizes "MEC Business Excellence" to drive operational, commercial and capital discipline, including automation, reshoring-focused growth and expansion in data center & critical power. Customer concentration is significant: in 2025, the top customer accounted for 13.6% of net sales and the top ten for 62.3%, with John Deere alone at 10.0%.
Risk factors highlight exposure to macroeconomic and trade-policy uncertainty, inflation in wages and materials, supply-chain disruptions, labor availability, and dependence on a limited number of large OEMs and key suppliers. MEC also notes higher leverage following the Accu-Fab acquisition and an amended revolving credit facility, plus broad regulatory, environmental, cybersecurity and climate-related risks.
Mayville Engineering Company reported a weak fourth quarter of 2025, with net sales up 10.7% year over year but a net loss of $4.4 million, or ($0.22) per diluted share, driven by launch costs and softer legacy demand. Adjusted EBITDA was $6.3 million, or 4.7% of net sales, down from 7.6% a year earlier, while free cash flow was $10.2 million, roughly flat after adjusting for a prior-year legal settlement.
Data Center & Critical Power net sales jumped to $20.4 million in the quarter, helped by the Accu-Fab acquisition and 12.7% organic growth, while Commercial Vehicle and Military declined. For full-year 2025, net sales were $546.5 million and Adjusted EBITDA was $47.1 million.
For 2026, MEC guides net sales between $580 million and $620 million, Adjusted EBITDA of $50 million to $60 million, and free cash flow of $25 million to $35 million, assuming $40 million to $50 million of Accu-Fab cross-selling revenue and improving legacy end markets.
Mayville Engineering Company, Inc. amended its Amended and Restated Credit Agreement on February 25, 2026, signing a Third Amendment that reshapes its senior secured revolving credit facility and key financial covenants.
The amendment reduces the total revolver commitment by $75,000,000 to $275,000,000 and adds two higher pricing levels that apply when the consolidated total leverage ratio is at or above 4.00 to 1.00 and 5.00 to 1.00. It also increases the permitted maximum consolidated total leverage ratio to as high as 5.25 to 1.00 for March 31, 2026 and June 30, 2026, then stepping down to 5.00 to 1.00 on September 30, 2026 and 4.00 to 1.00 on December 31, 2026, before returning to 3.50 to 1.00 from March 31, 2027 onward. The minimum consolidated interest coverage ratio is set at 3.00 to 1.00 through March 31, 2026, 2.75 to 1.00 from June 30, 2026 through December 31, 2026, and 3.00 to 1.00 from March 31, 2027. The amendment further tightens certain operational covenants, including limits on permitted acquisitions during the 2026 fiscal year.
Mayville Engineering Company, Inc. received an updated ownership report showing that Hilve Holdings Limited and its sole shareholder, Mikhail Stiskin, beneficially own 995,756 shares of Common Stock. This stake represents 4.9% of the outstanding common shares, based on 20,317,825 shares outstanding as of September 30, 2025.
Hilve Holdings Limited directly holds all 995,756 shares, while Stiskin may be deemed to beneficially own the same amount through his sole ownership of Hilve. Both report sole voting and dispositive power over these shares and certify that the investment is not intended to change or influence control of the company.