Marine Products (MPX) former CEO’s 678,399 shares converted in MasterCraft merger deal

Rhea-AI Filing Summary

Marine Products Group director and former CEO Ben M. Palmer reported share movements tied to the company’s merger with MasterCraft Boat Holdings. He received 75,303 shares of Marine Products common stock as a grant or similar acquisition under the February 5, 2026 Agreement and Plan of Merger.

Immediately before the merger became effective, all outstanding performance share units vested at target performance and dividend equivalents, and all restricted stock vested in full. At closing, each share of Marine Products common stock was exchanged for the right to receive 0.232 shares of MasterCraft common stock plus $2.43 in cash per share.

Following the merger-related exchange of 678,399 Marine Products shares, Palmer’s reported direct holdings of Marine Products common stock fell to zero, reflecting the conversion of his equity into MasterCraft stock and cash under the merger terms.

Insights

Equity compensation and M&A specialist

Palmer’s Form 4 reflects merger consideration, not discretionary trading.

The transactions show Ben M. Palmer receiving 75,303 Marine Products shares through a grant or similar acquisition linked to the MasterCraft merger, followed by the conversion of a total of 678,399 shares into MasterCraft stock and cash under fixed terms.

Because the disposition occurs via an agreed Agreement and Plan of Merger, the filing documents mechanical treatment of existing equity rather than a market-timed buy or sell decision. It therefore carries little signaling value about Palmer’s personal outlook on Marine Products or MasterCraft.

The key economic terms in this excerpt are the equity-for-equity-and-cash exchange ratio and the vesting of performance share units and restricted stock immediately before closing. Subsequent company filings may provide broader detail on the overall merger impact for shareholders.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Palmer Ben M

Role Former President and CEO

Type	Security	Shares	Price	Value
Grant/Award	Common Stock, $.10 Par Value	75,303	$0.00	--
Other	Common Stock, $.10 Par Value	678,399	$8.18	$5.55M

Holdings After Transaction: Common Stock, $.10 Par Value — 678,399 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

Grant shares acquired: 75,303 shares Shares converted in merger: 678,399 shares Implied share value used: $8.18 per share +3 more

6 metrics

Grant shares acquired 75,303 shares Marine Products common stock grant/award under merger agreement

Shares converted in merger 678,399 shares Marine Products common stock exchanged into MasterCraft stock and cash

Implied share value used $8.18 per share Price per share shown for 678,399-share disposition entry

Stock exchange ratio 0.232 shares MasterCraft common stock per Marine Products share in merger

Cash consideration $2.43 per share Cash paid for each Marine Products share in merger

Post-transaction MPX holdings 0 shares Total Marine Products shares held by Palmer after merger exchange

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 (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 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

"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 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^*

Palmer Ben M

(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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Former President and CEO

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		75,303	A	(1)	678,399	D
Common Stock, $.10 Par Value	05/15/2026		J		678,399	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/ Ben M. Palmer	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 transactions did Ben M. Palmer report for MPX in this Form 4?

Ben M. Palmer reported one grant and one restructuring transaction. He acquired 75,303 shares of Marine Products common stock as a grant-like award, then 678,399 shares were converted in a merger-related disposition into MasterCraft stock and cash, leaving him with no Marine Products shares.

How many Marine Products (MPX) shares were converted for Ben M. Palmer in the merger?

A total of 678,399 Marine Products shares were converted in the merger. These shares, including vested awards, were exchanged for the right to receive MasterCraft common stock plus cash, reducing Palmer’s reported Marine Products common stock holdings to zero after the transaction.

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

Each Marine Products share was exchanged for stock and cash. For every share of Marine Products common stock, the holder received the right to 0.232 shares of MasterCraft common stock and $2.43 in cash, without interest and less any applicable withholding taxes.

Did Ben M. Palmer still hold Marine Products (MPX) stock after the reported transactions?

No, Palmer’s reported Marine Products holdings fell to zero. After 678,399 shares of Marine Products common stock were exchanged for MasterCraft stock and cash in the merger, his total shares following the transaction were listed as 0.0000, indicating no remaining direct holdings.

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

Equity awards vested immediately before the merger became effective. Each outstanding performance share unit vested at target performance with dividend equivalents, and each share of restricted stock vested in full, then participated in the same exchange into MasterCraft stock and cash as other common shares.