Marine Products (NYSE: MPX) trust converts 219K shares in MasterCraft merger

Rhea-AI Filing Summary

Marine Products Group, LLC reported that the Gary W. Rollins Revocable Trust, a more than 10% owner, completed an "other" restructuring transaction involving 219,149 shares of Marine Products common stock. Under a merger agreement with MasterCraft Boat Holdings, each Marine Products share was converted into the right to receive $2.43 in cash plus 0.232 shares of MasterCraft common stock. Following this conversion, the trust reported holding 0 shares of Marine Products common stock.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Gary W. Rollins Revocable Trust

Role null

Type	Security	Shares	Price	Value
Other	Common Stock, $.10 Par Value	219,149	$0.00	--

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

Footnotes (1)

1. [object Object]

Key Figures

Shares restructured: 219,149 shares Cash consideration per share: $2.43 per share Stock consideration ratio: 0.232 shares +2 more

5 metrics

Shares restructured 219,149 shares Marine Products common stock involved in transaction code J

Cash consideration per share $2.43 per share Cash portion of merger consideration for each Marine Products share

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

MasterCraft share price $24.64 per share Closing price on May 14, 2026 for MasterCraft common stock

Post-transaction MPX holdings 0 shares Marine Products shares held by the trust after restructuring

Key Terms

Agreement and Plan of Merger, Merger Agreement, First Effective Time, par value, +1 more

5 terms

Agreement and Plan of Merger regulatory

"Pursuant to the Agreement and Plan of Merger, dated as of February 5, 2026"

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.

Merger Agreement regulatory

"the "Merger Agreement", by and among MasterCraft Boat Holdings, Inc."

A merger agreement is a binding contract that lays out the exact terms for two companies to combine, including the price, what each side will deliver, and the conditions that must be met before the deal is completed. Investors care because it sets the timetable, payouts and risks — like a blueprint or prenup that shows whether the deal is likely to close, how ownership will change, and what could cancel or alter the payout they expect.

First Effective Time regulatory

"at the First Effective Time (as defined in the Merger Agreement), each share"

par value financial

"Marine Products' common stock, par value $0.10 per share, was converted"

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.

revocable trust financial

"reporting person name: Gary W. Rollins Revocable Trust"

A revocable trust is a legal arrangement where the person who creates it keeps control and can change or cancel the trust at any time, while naming who will manage and receive the assets later. Think of it like a flexible folder for your investments and property that can be relabeled or reworked as circumstances change; it matters to investors because it determines how ownership is recorded, how easily assets transfer on incapacity or death, and whether holdings bypass public probate proceedings.

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^*

Gary W. Rollins Revocable Trust

(Last) (First) (Middle)

C/O RFA MANAGEMENT COMPANY, LLC

1908 CLIFF VALLEY WAY NE

(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	X	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(1)		219,149	D	(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. Pursuant to the Agreement and Plan of Merger, dated as of February 5, 2026 (the "Merger Agreement"), by and among MasterCraft Boat Holdings, Inc. ("MasterCraft"), Marine Products Corporation ("Marine Products"), Titan Merger Sub 1, Inc., a direct wholly owned subsidiary of MasterCraft, and Titan Merger Sub 2, LLC, a direct wholly owned subsidiary of MasterCraft, at the First Effective Time (as defined in the Merger Agreement), each share of Marine Products' common stock, par value $0.10 per share, was converted into the right to receive $2.43 in cash, without interest, and 0.232 shares of MasterCraft common stock, par value $0.01 per share. The market price of MasterCraft common stock was $24.64 per share at the close of business May 14, 2026.

	/s/ Gary W. Rollins Revocable Trust, By: Gary W. Rollins, Trustee	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 did the Gary W. Rollins Revocable Trust report in the MPX Form 4?

The Form 4 shows the trust completed an "other" restructuring transaction for 219,149 Marine Products shares. These shares were converted into cash and MasterCraft stock under a merger agreement, leaving the trust with zero Marine Products shares afterward.

How many Marine Products (MPX) shares were affected in this Form 4?

The transaction involved 219,149 shares of Marine Products common stock. All of these shares were converted under the merger terms, and the reporting trust disclosed that it held zero Marine Products shares after the transaction was completed.

What consideration did MPX shareholders receive in the MasterCraft merger?

Each Marine Products common share was converted into the right to receive $2.43 in cash and 0.232 shares of MasterCraft common stock. This cash-and-stock structure provided immediate cash plus ongoing equity exposure in MasterCraft for former Marine Products shareholders.

How is the MasterCraft share price referenced in the MPX Form 4 footnote?

The footnote states that MasterCraft common stock closed at $24.64 per share on May 14, 2026. This price helps illustrate the implied value of the stock portion of the merger consideration at that time for Marine Products shareholders.

Does the MPX Form 4 reflect a buy or sell by the reporting trust?

The Form 4 uses transaction code J, labeled as an "other acquisition or disposition" and categorized as a restructuring. It does not classify the event as a traditional open-market buy or sell, but as a conversion driven by the merger terms.