Marine Products director exits stake via merger

Marine Products Group director Patrick J. Gunning reported an “other” restructuring transaction tied to the company’s merger with MasterCraft Boat Holdings.

Rhea-AI Filing Summary

Marine Products Group director Patrick J. Gunning reported an “other” restructuring transaction tied to the company’s merger with MasterCraft Boat Holdings. He disposed of 17,909 shares of Marine Products common stock. For each share, he became entitled to receive 0.232 MasterCraft share and $2.43 in cash, and his reported direct Marine Products holdings fell to zero.

Insider Trade Summary

Other: 17,909 shares

Other 1 txn

Insider Gunning Patrick J.

Role Director

Type	Security	Shares	Price	Value
Other	Common Stock, $.10 Par Value	17,909	$8.18	$146K

Holdings After Transaction: Common Stock, $.10 Par Value — 0 shares (Direct)

Footnotes (1)

1. F1. The reported securities were disposed of pursuant to the terms of the Agreement and Plan of Merger (the "Merger Agreement"), dated as of February 5, 2026, by and among MasterCraft Boat Holdings, Inc., a Delaware corporation ("MasterCraft"). Upon effectiveness of the merger, in exchange for each share of Common Stock, the reporting person received the right to receive 0.232 shares of MasterCraft Common Stock, par value $0.01 per share and $2.43 in cash, without interest and less applicable withholding taxes.

Key Figures

Restructuring shares: 17,909 shares Implied transaction value per share: $8.18 per share Stock consideration ratio: 0.232 shares +2 more

5 metrics

Restructuring shares 17,909 shares Shares of Marine Products common stock affected in merger

Implied transaction value per share $8.18 per share Reported transaction price for Marine Products common stock

Stock consideration ratio 0.232 shares MasterCraft common stock received per Marine Products share

Cash consideration per share $2.43 cash Cash portion received per Marine Products share in merger

Holdings after transaction 0 shares Gunning’s direct Marine Products holdings after merger conversion

Key Terms

Agreement and Plan of Merger, MasterCraft Boat Holdings, Inc., par value, withholding taxes

4 terms

Agreement and Plan of Merger regulatory

"The reported securities were disposed of pursuant to the terms of the Agreement and Plan of Merger"

An Agreement and Plan of Merger is a formal document where two companies agree to combine into one, outlining how the process will happen. It’s like a step-by-step plan for merging, and it matters because it shows both sides have agreed on the details before the official transition takes place.

MasterCraft Boat Holdings, Inc. financial

"by and among MasterCraft Boat Holdings, Inc., a Delaware corporation"

par value financial

"MasterCraft Common Stock, par value $0.01 per share"

Par value is the fixed amount printed on a bond or stock that represents its original value when issued. It’s like the face value of a coin or bill—what the issuer promises to pay back or the starting price of a stock—though it often doesn’t change with market prices. It matters because it helps determine certain financial details, like how much the company will pay back at maturity.

withholding taxes financial

"$2.43 in cash, without interest and less applicable withholding taxes"

Withholding taxes are amounts a payer or government takes out of payments — such as wages, interest, or dividends — before the recipient gets the money, functioning like a cashier keeping part of a bill to pay taxes on your behalf. For investors this matters because it reduces the cash they actually receive, affects net returns and yield calculations, and may require additional paperwork or treaty claims to recover or offset the withheld amount against final tax bills.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did MPX director Patrick J. Gunning report?

Patrick J. Gunning reported an “other” restructuring transaction involving 17,909 shares of Marine Products common stock. The shares were disposed of in connection with a merger, rather than through an open-market purchase or sale, reflecting a change in ownership structure.

How many Marine Products (MPX) shares were affected in Gunning’s Form 4?

The Form 4 shows 17,909 shares of Marine Products common stock affected by the transaction. These shares were exchanged under a merger agreement, and Gunning’s reported direct holdings of Marine Products stock decreased to zero following completion of the transaction.

What did Patrick J. Gunning receive for each MPX share in the merger?

For each Marine Products share, Gunning became entitled to receive 0.232 shares of MasterCraft common stock plus $2.43 in cash. These terms were set under the Agreement and Plan of Merger and are subject to applicable withholding taxes as described in the footnote.

Was Patrick J. Gunning’s MPX transaction an open-market trade?

The reported transaction was not an open-market trade. It is classified as an “other acquisition or disposition” and occurred pursuant to a merger agreement, where Marine Products shares were converted into MasterCraft stock and cash consideration instead of being bought or sold on the market.

What are Gunning’s Marine Products holdings after this Form 4 transaction?

After the transaction, Gunning’s reported direct holdings of Marine Products common stock are zero shares. His Marine Products position was eliminated because all reported shares were exchanged for a mix of MasterCraft common stock and cash under the terms of the merger agreement.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Accepted by SEC EDGAR 05/19/2026 - 05:42 PM EDT Learn about SEC filing dates

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

X

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^*

Gunning Patrick J.

(Last) (First) (Middle)

2801 BUFORD HIGHWAY

SUITE 300

(Street)

ATLANTA GEORGIA 30329

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
MARINE PRODUCTS GROUP, LLC [ MPX ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/15/2026

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

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

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

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock, $.10 Par Value	05/15/2026		J		17,909	D	$8.18(1)	0	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The reported securities were disposed of pursuant to the terms of the Agreement and Plan of Merger (the "Merger Agreement"), dated as of February 5, 2026, by and among MasterCraft Boat Holdings, Inc., a Delaware corporation ("MasterCraft"). Upon effectiveness of the merger, in exchange for each share of Common Stock, the reporting person received the right to receive 0.232 shares of MasterCraft Common Stock, par value $0.01 per share and $2.43 in cash, without interest and less applicable withholding taxes.

	/s/ Patrick J. Gunning	05/19/2026
	** 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.
* Form 4: SEC 1474 (03-26)