Marine Products (NYSE: MPX) ex-CFO gets MasterCraft stock and cash

Rhea-AI Filing Summary

Marine Products Group’s former CFO Michael Schmit reported merger-related equity changes. He received a grant of 22,339 shares of Common Stock at no cost as performance share units and dividend equivalents vested at target under a merger agreement. Immediately afterward, all 100,577 shares of Common Stock were converted in the merger into the right to receive 0.232 shares of MasterCraft common stock plus $2.43 in cash per Marine Products share, leaving him with no remaining Marine Products holdings.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Schmit Michael

Role Former CFO and Corp Secretary

Type	Security	Shares	Price	Value
Grant/Award	Common Stock, $.10 Par Value	22,339	$0.00	--
Other	Common Stock, $.10 Par Value	100,577	$8.18	$823K

Holdings After Transaction: Common Stock, $.10 Par Value — 100,577 shares (Direct, null)

Footnotes (1)

1. The reported securities were acquired 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"). Immediately prior to effectiveness of the merger, each outstanding performance share unit vested at target performance and dividend equivalents. 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"). Immediately prior to effectiveness of the merger, each outstanding share of restricted stock vested in full. 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

Awarded shares: 22,339 shares Shares converted in merger: 100,577 shares Implied share value: $8.18 per share +3 more

6 metrics

Awarded shares 22,339 shares Grant/award acquisition of Common Stock at no cost before merger

Shares converted in merger 100,577 shares Common Stock exchanged for stock-and-cash merger consideration

Implied share value $8.18 per share Price shown for 100,577-share restructuring transaction

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

Cash portion of consideration $2.43 per share Cash paid per Marine Products share, less withholding taxes

Post-transaction holdings 0 shares Marine Products shares held after merger-related conversion

Key Terms

Agreement and Plan of Merger, performance share unit, restricted stock, dividend equivalents

4 terms

Agreement and Plan of Merger regulatory

"The reported securities were acquired 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.

performance share unit financial

"each outstanding performance share unit vested at target performance and dividend equivalents"

A performance share unit (PSU) is a form of executive or employee pay that promises shares (or the cash value of shares) only if the company meets specific performance targets over a set period. Think of it like a bonus cheque that only arrives if the company hits agreed goals — it aligns managers’ rewards with business results and signals to investors how leadership is being incentivized to grow value over time.

restricted stock financial

"each outstanding share of restricted stock vested in full"

Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.

dividend equivalents financial

"each outstanding performance share unit vested at target performance and dividend equivalents"

Payments tied to employee or contractor equity awards that mirror the cash dividends paid on the company’s stock; they give the holder the same economic benefit as owning the shares without transferring actual shares—often paid in cash or additional award units when the award becomes payable. Investors care because these payments affect a company’s compensation costs, cash flow and potential share dilution, and they signal how management is being rewarded and aligned with shareholders.

Form 4 Insider Transactions: What Each Field Means →

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^*

Schmit Michael

(Last) (First) (Middle)

2801 BUFORD HWY NE

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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Former CFO and Corp Secretary

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		A		22,339	A	(1)	100,577	D
Common Stock, $.10 Par Value	05/15/2026		J		100,577	D	$8.18(2)	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 acquired 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"). Immediately prior to effectiveness of the merger, each outstanding performance share unit vested at target performance and dividend equivalents.

2. 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"). Immediately prior to effectiveness of the merger, each outstanding share of restricted stock vested in full. 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/ Michael Schmit	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)

FAQ

What insider activity did the Marine Products (MPX) Form 4 report?

The Form 4 shows former CFO Michael Schmit received 22,339 shares through vested awards, then all 100,577 Marine Products shares were converted in a merger into MasterCraft stock and cash, leaving him with no remaining Marine Products holdings.

How many Marine Products (MPX) shares did Michael Schmit acquire in this filing?

Michael Schmit acquired 22,339 shares of Marine Products Common Stock at no cost. These came from performance share units and related dividend equivalents that vested at target immediately before the merger became effective under the merger agreement’s terms.

What happened to Michael Schmit’s Marine Products (MPX) shares in the merger?

All 100,577 Marine Products shares held by Michael Schmit were converted in the merger. For each share, he became entitled to 0.232 shares of MasterCraft common stock plus $2.43 in cash, paid without interest and subject to applicable tax withholding.

What consideration per Marine Products (MPX) share did the Form 4 disclose?

Each Marine Products Common Stock share was exchanged for 0.232 shares of MasterCraft common stock and $2.43 in cash. The cash portion is paid without interest and reduced by applicable withholding taxes, as specified in the merger agreement.

Does Michael Schmit still hold Marine Products (MPX) stock after these transactions?

According to the Form 4, Michael Schmit reported zero Marine Products shares after the merger conversion. His 100,577 shares were fully exchanged into the right to receive MasterCraft stock and cash consideration under the merger agreement’s terms.