RFA MANAGEMENT CO LLC 4

What Happened

• RFA MANAGEMENT CO LLC, a reported 10% owner of Marine Products (MPX), reported an other acquisition/disposition (code J) on 2026-05-15 in which 156,838 MPX shares were converted as part of a merger.
• Under the merger terms, each MPX share converted into $2.43 in cash and 0.232 shares of MasterCraft common stock. Using MasterCraft’s closing price of $24.64 on 2026-05-14, the consideration per MPX share is roughly $8.15, valuing the total consideration at about $1.28 million.
• Rough breakdown (approx.): cash ≈ $381,116 (156,838 × $2.43) plus ≈ 36,386 MasterCraft shares (156,838 × 0.232) valued at ≈ $896,550 (36,386 × $24.64).

Key Details

• Transaction date: 2026-05-15; Form 4 filed: 2026-05-19 (filed within the standard Form 4 deadline).
• Transaction type/code: J = "Other acquisition or disposition" — here, a merger conversion rather than an open-market buy or sell.
• Shares reported converted: 156,838 MPX shares.
• Shares owned after transaction: Form 4 does not state remaining MPX holdings; conversion typically eliminates the converted MPX shares (i.e., the holder receives cash and MasterCraft stock instead of MPX stock).
• Footnote: Conversion pursuant to the Merger Agreement dated Feb 5, 2026 — each MPX share = $2.43 cash + 0.232 MasterCraft shares; MasterCraft close on 5/14/2026 = $24.64 (used above to estimate value).

Context

• This filing reflects a corporate transaction (merger conversion) for a reported 10% owner (institutional holder), not an executive buying/selling in the open market. It’s a routine effect of the merger agreement and does not by itself indicate insider sentiment about future performance.