Marine Products (NYSE: MPX) holder sees shares converted in merger

Rhea-AI Filing Summary

MARINE PRODUCTS GROUP, LLC ten percent owner Gary W. Rollins reported restructuring transactions involving 1,282,062 shares of Marine Products common stock tied to a merger with MasterCraft Boat Holdings, Inc.

According to the merger agreement, each Marine Products share was converted into the right to receive $2.43 in cash plus 0.232 shares of MasterCraft common stock. The filing lists 4,505 shares held by spouse, 327,258 shares held through WNEG Investments, L.P., 219,149 shares held through The Gary W. Rollins Revocable Trust, and 731,150 shares held directly, each showing zero Marine Products shares following the transactions. The market price of MasterCraft common stock was $24.64 per share at the close of business on May 14, 2026, and the reporting person disclaims beneficial ownership except to the extent of his pecuniary interest.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider ROLLINS GARY W

Role null

Type	Security	Shares	Price	Value
Other	Common Stock, $.10 Par Value	731,150	$0.00	--
Other	Common Stock, $.10 Par Value	219,149	$0.00	--
Other	Common Stock, $.10 Par Value	327,258	$0.00	--
Other	Common Stock, $.10 Par Value	4,505	$0.00	--

Holdings After Transaction: Common Stock, $.10 Par Value — 0 shares (Direct, null); Common Stock, $.10 Par Value — 0 shares (Indirect, Held indirectly through The Gary W. Rollins Revocable Trust)

Footnotes (1)

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. The reporting person disclaims for the purpose of Section 16 of the Securities Exchange Act of 1934 the beneficial ownership of such securities except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission of such beneficial ownership.

Key Figures

Spouse-held shares converted: 4,505 shares WNEG Investments L.P. shares converted: 327,258 shares Revocable trust shares converted: 219,149 shares +5 more

8 metrics

Spouse-held shares converted 4,505 shares Common Stock, $.10 Par Value held by spouse

WNEG Investments L.P. shares converted 327,258 shares Held indirectly through WNEG Investments, L.P.

Revocable trust shares converted 219,149 shares Held indirectly through The Gary W. Rollins Revocable Trust

Directly held shares converted 731,150 shares Direct ownership of Marine Products common stock

Total shares restructured 1,282,062 shares TransactionSummary restructuringShares

Cash per Marine Products share $2.43 Merger consideration per share in cash

MasterCraft stock per share 0.232 shares MasterCraft common stock per Marine Products share

MasterCraft market price $24.64 per share Close of business on May 14, 2026

Key Terms

Agreement and Plan of Merger, First Effective Time, pecuniary interest, Section 16 of the Securities Exchange Act of 1934, +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.

First Effective Time regulatory

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

pecuniary interest financial

"disclaims... beneficial ownership... except to the extent of his pecuniary interest therein..."

Section 16 of the Securities Exchange Act of 1934 regulatory

"disclaims for the purpose of Section 16 of the Securities Exchange Act of 1934..."

A provision of federal securities law that requires company insiders—directors, officers and large shareholders—to publicly report their stock holdings and trades and to surrender any “short-swing” profits from purchases and sales within a six-month window. It acts like a rule that forces leaders to announce their trades and prevents quick buy-sell windfalls, giving investors transparency into insider activity and reducing opportunities for unfair gain.

revocable trust financial

"Held indirectly through The 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^*

ROLLINS GARY W

(Last) (First) (Middle)

2170 PIEDMONT ROAD NE

(Street)

ATLANTA GEORGIA 30324

(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)		731,150	D	(1)	0	D
Common Stock, $.10 Par Value	05/15/2026		J(1)		219,149(2)	D	(1)	0	I	Held indirectly through The Gary W. Rollins Revocable Trust
Common Stock, $.10 Par Value	05/15/2026		J(1)		327,258(2)	D	(1)	0	I	Held indirectly through WNEG Investments, L.P.
Common Stock, $.10 Par Value	05/15/2026		J(1)		4,505(2)	D	(1)	0	I	By Spouse

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.

2. The reporting person disclaims for the purpose of Section 16 of the Securities Exchange Act of 1934 the beneficial ownership of such securities except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission of such beneficial ownership.

	/s/ Callum Macgregor as attorney-in-fact for Gary W. Rollins	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 Marine Products (MPX) Form 4 filed by Gary W. Rollins report?

The Form 4 reports restructuring transactions for 1,282,062 Marine Products common shares. These shares were converted in a merger into cash and MasterCraft stock, leaving zero Marine Products shares reported after the transactions for each holding line.

How many Marine Products (MPX) shares were affected in Gary W. Rollins’ restructuring?

The filing shows 1,282,062 Marine Products shares affected. This includes 4,505 shares held by spouse, 327,258 via WNEG Investments, L.P., 219,149 via The Gary W. Rollins Revocable Trust, and 731,150 held directly, all converted under the merger agreement.

What did Marine Products (MPX) shareholders receive in the MasterCraft merger?

Each Marine Products share was converted into the right to receive $2.43 in cash plus 0.232 shares of MasterCraft common stock. This combination of cash and stock consideration was defined in the Agreement and Plan of Merger referenced in the insider filing.

What price for MasterCraft stock is referenced in the Marine Products (MPX) Form 4?

The filing notes that MasterCraft common stock had a market price of $24.64 per share at the close of business on May 14, 2026. This figure provides context for valuing the 0.232 MasterCraft shares received per Marine Products share.

How did the restructuring affect Gary W. Rollins’ Marine Products (MPX) reported holdings?

Each transaction line lists total Marine Products shares following the transaction as 0.0000. This indicates no Marine Products common stock remained reported for the direct, spouse, partnership, or trust holdings after the merger-related conversion.

What does the beneficial ownership disclaimer mean in the Marine Products (MPX) Form 4?

The filing states that the reporting person disclaims beneficial ownership of the securities except to the extent of his pecuniary interest. This means he does not concede full beneficial ownership for Section 16 purposes beyond his economic stake in the indirectly held shares.