Schmit Michael 4

What Happened
Michael Schmit, CFO and Corporate Secretary of Marine Products Corp (MPX), had 1,045 shares withheld/disposed to satisfy a tax obligation on 2026-01-26. The withholding was recorded at $9.25 per share for a total value of approximately $9,666. This was a tax-withholding disposition (code F), not an open-market sale.

Key Details

• Transaction date: 2026-01-26; Filing date (Form 4): 2026-01-28 (appears timely).
• Price/value: $9.25 per share; total value ~$9,666.
• Shares disposed: 1,045 (withheld to cover tax liability).
• Shares owned after the transaction: Not specified in the filing.
• Footnote/transaction code: "F" — payment of exercise price or tax liability (shares were surrendered/withheld to cover taxes, typically after an option exercise or award vesting).
• This was a withholding for taxes, not a public sale of shares.

Context
Tax-withholding dispositions are a routine administrative step following option exercises or stock vesting and do not necessarily indicate a change in the insider’s view of the company. Purchases or open-market sales are generally more informative about an insider’s sentiment.