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  4. [Form 4] MARINE PRODUCTS CORP Insider Trading Activity

Marine Products (MPX) director reports merger-driven exchange into MasterCraft stock and cash

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

HUBBELL RICHARD A reported acquisition or exercise transactions in this Form 4 filing.

MARINE PRODUCTS GROUP, LLC director and former executive chairman Richard A. Hubbell reported merger-related equity changes with no open‑market buying or selling. He received a grant of 40,245 shares of common stock as a compensation award, bringing his reported holdings to 1,356,544 shares before the merger restructuring.

Under a merger agreement with MasterCraft Boat Holdings, each Marine Products share, including vested restricted stock and performance share units with dividend equivalents, was exchanged for 0.232 shares of MasterCraft common stock plus $2.43 in cash per share, less applicable taxes. This exchange disposed of his Marine Products shares in return for MasterCraft stock and cash.

Positive

  • None.

Negative

  • None.
Insider HUBBELL RICHARD A
Role Former Ex. Chairman of Board
Type Security Shares Price Value
Grant/Award Common Stock, $.10 Par Value 40,245 $0.00 --
Other Common Stock, $.10 Par Value 1,356,544 $8.18 $11.10M
Holdings After Transaction: Common Stock, $.10 Par Value — 1,356,544 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 with 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.
Merger restructuring shares 1,356,544 shares Marine Products common stock exchanged under merger agreement
Restructuring reference price $8.18 per share Reference price for 1,356,544-share other transaction
Share grant size 40,245 shares Common stock grant/award acquisition
Grant price $0.00 per share Stated price for 40,245-share award
Exchange stock component 0.232 shares MasterCraft stock per Marine Products share in merger
Exchange cash component $2.43 per share Cash paid per Marine Products share in merger
Agreement and Plan of Merger regulatory
"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,"
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
"Immediately prior to effectiveness of the merger, each outstanding performance share unit vested at target performance with 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
"Immediately prior to effectiveness of the merger, 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 with 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 4UNITED 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*
HUBBELL RICHARD A
(Last)(First)(Middle)
2801 BUFORD HIGHWAY, 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)
XDirector10% Owner
XOfficer (give title below)Other (specify below)
Former Ex. Chairman of Board
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
05/15/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Common Stock, $.10 Par Value05/15/2026A40,245A(1)1,356,544D
Common Stock, $.10 Par Value05/15/2026J1,356,544D$8.18(2)0D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount 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 with 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/ Richard A. Hubbell05/19/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did Richard A. Hubbell report for MPX on this Form 4?

Richard A. Hubbell reported two non-derivative transactions in Marine Products common stock. He received a grant of 40,245 shares as a compensation award and participated in a larger merger-related restructuring involving 1,356,544 shares exchanged for MasterCraft stock and cash.

Was the Hubbell Form 4 for Marine Products (MPX) an open-market buy or sell?

The Form 4 does not show any open-market buying or selling. It records a share grant and a merger-driven exchange of Marine Products shares into MasterCraft stock and cash under a merger agreement, which is treated as other acquisition or disposition activity.

What did MPX shareholders, including Hubbell, receive for each Marine Products share in the MasterCraft merger?

For each Marine Products common share, holders received the right to 0.232 shares of MasterCraft common stock plus $2.43 in cash, less applicable withholding taxes. This consideration replaced their Marine Products shares upon the merger’s effectiveness.

How were restricted stock and performance share units treated in the Marine Products merger?

Immediately before the merger’s effectiveness, each outstanding performance share unit vested at target performance with dividend equivalents, and each restricted stock share vested in full. These vested equity awards were then treated as Marine Products common stock for the MasterCraft stock and cash exchange.