LOR INC 4

What Happened

• LOR Inc., listed as a 10% owner of Marine Products (MPX), reported dispositions of Marine Products common shares on 2026-05-15. The filing shows four "other acquisition or disposition" (code J) entries totaling 20,658,460 shares (19,138,233; 1,065,476; 297,913; 156,838).
• Per the Merger Agreement (Footnote F1), each Marine Products share was converted into $2.43 cash plus 0.232 shares of MasterCraft common stock. Using MasterCraft's May 14, 2026 close of $24.64, the combined consideration is about $8.15 per Marine Products share, implying total consideration of roughly $168.3 million. This disposition stems from the merger conversion mechanics, not an open-market sale by the insider.

Key Details

• Transaction date: 2026-05-15. Form 4 filed: 2026-05-19 (filed within the two-business-day window).
• Transaction code: J ("Other acquisition or disposition") — explained by Merger Agreement conversion (Footnote F1). Reported unit price: N/A in filing; conversion terms used to value consideration (~$2.43 cash + 0.232 MasterCraft shares).
• Shares disposed: 19,138,233; 1,065,476; 297,913; 156,838 — total 20,658,460 shares.
• Estimated per-share consideration: ~$8.15 (=$2.43 cash + 0.232 × $24.64). Estimated total consideration: ≈ $168.3M (based on MasterCraft close on 5/14/2026).
• Shares owned after transaction: Not specified in the provided filing.
• Footnote F2: The reporting person disclaims beneficial ownership except to the extent of pecuniary interest (standard for some institutional filings).

Context

• This is a merger-related conversion (Marine Products into cash + MasterCraft stock) rather than a discretionary insider market sale; the Form 4 records the disposition resulting from the deal mechanics.
• As a 10% owner (institutional holder), LOR Inc.'s filing documents restructuring of holdings under the Merger Agreement rather than an executive personal trade; avoid interpreting this as a signal of management sentiment.