[Form 4] OneWater Marine Inc. Insider Trading Activity

Rhea-AI Filing Summary

John Troiano, a director of OneWater Marine Inc. (ONEW), reported an award of 7,892 restricted stock units on 10/01/2025 under the company's 2020 Omnibus Incentive Plan. The award carries a $0 purchase price and vests on 10/01/2026 subject to continued service as a director. Following the transaction Mr. Troiano directly beneficially owns 33,928 Class A shares and is disclosed as having indirect beneficial ownership of 172,450 shares through OWM BIP Investor, LLC and 52,226 shares through Beekman Investment Partners AIV III-OWM, L.P. The filing includes the customary disclaimer of beneficial ownership except to the extent of pecuniary interest.

Positive

• 7,892 RSUs awarded that vest over one year, aligning director incentives with shareholder interests
• Substantial indirect ownership disclosed: 172,450 and 52,226 shares, indicating significant aligned economic interest

Negative

• No immediate purchase price (reported price $0) — award is compensation that may dilute shareholders when settled
• Vesting contingent on continued service so the economic value is subject to future employment condition

Insights

Corporate Governance Expert

Director received time-based equity award; significant indirect holdings disclosed.

The report shows a 7,892 restricted stock unit award granted on 10/01/2025 that vests on 10/01/2026, tying compensation to continued board service rather than immediate sale.

The filing also discloses substantial indirect holdings: 172,450 shares via OWM BIP Investor, LLC and 52,226 shares via Beekman Investment Partners AIV III-OWM, L.P., plus 33,928 directly owned shares, which are material ownership disclosures for governance and voting influence.

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
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hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Troiano John

(Last) (First) (Middle)

6275 LANIER ISLANDS PARKWAY

(Street)

BUFORD GA 30518

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
OneWater Marine Inc. [ ONEW ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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
Class A common stock, par value $0.01	10/01/2025		A(1)		7,892	A	$0	33,928	D
Class A common stock, par value $0.01								172,450	I	By OWM BIP Investor, LLC(2)(3)
Class A common stock, par value $0.01								52,226	I	By Beekman Investment Partners AIV III-OWM, L.P.(2)(3)

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. Award of restricted stock units pursuant to the OneWater Marine Inc. 2020 Omnibus Incentive Plan. The award vests on October 1, 2026, subject to the recipient's continued service as a director of the Issuer through such vesting date.

2. The Reporting Person disclaims beneficial ownership of the shares except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of the shares for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

3. Beekman Investment Partners AIV III-OWM, L.P. ("AIV III") is an investment fund that is managed by a general partner, Beekman Investment Group III, LLC. OWM BIP Investor, LLC is an investment vehicle wholly-owned by AIV III. The Reporting Person is the sole manager of Beekman Investment Group III, LLC.

	/s/ John Troiano	10/03/2025
	** 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.

FAQ

What transaction did OneWater Marine (ONEW) director John Troiano report?

He reported an award of 7,892 restricted stock units on 10/01/2025 under the OneWater Marine 2020 Omnibus Incentive Plan.

When do the awarded RSUs vest for John Troiano?

The award vests on 10/01/2026, subject to Mr. Troiano's continued service as a director through that date.

How many OneWater Marine shares does John Troiano beneficially own after the transaction?

The filing shows 33,928 shares directly beneficially owned and indirect beneficial ownership of 172,450 and 52,226 shares through disclosed entities.

What price was reported for the RSU award?

The reported price for the award is listed as $0 in the Form 4.

Does John Troiano claim beneficial ownership of all indirectly held shares?

No; the filing includes a disclaimer that he disclaims beneficial ownership except to the extent of any pecuniary interest.