Schmit Michael 4

What Happened
Michael Schmit, CFO and Corporate Secretary of Marine Products Corp (MPX), had 2,619 shares disposed on Jan 28, 2026 as a payment of tax liability (transaction code F). The shares were valued at $9.44 each, for a total of about $24,723. This was a withholding to cover taxes related to an equity event, not an open‑market sale.

Key Details

• Transaction date: 2026-01-28
• Price: $9.44 per share; Shares withheld/disposed: 2,619; Total value ≈ $24,723
• Transaction code: F (payment of exercise price or tax liability — share withholding)
• Shares owned after transaction: not specified in the filing
• Filing date: 2026-01-30 (filed within the typical 2 business‑day Form 4 window; appears timely)
• No 10b5-1 plan or other special instructions disclosed in this filing

Context
Code F withholding is commonly used to satisfy tax obligations arising from option exercises or vesting of restricted stock/RSUs. Because the shares were withheld for taxes rather than sold on the open market, this transaction is generally considered administrative and does not necessarily indicate the insider’s view on the company’s stock. The amount is relatively small (~$24.7K) and typical for routine tax withholding.