HUBBELL RICHARD A 4
4 · MARINE PRODUCTS GROUP, LLC · Filed May 19, 2026
Research Summary
AI-generated summary of this filing
Marine Products Group Ex-Chairman Richard Hubbell Sells 1.36M Shares
What Happened
Richard A. Hubbell, former Executive Chairman and director of Marine Products Group (MPX), reported two merger-related transactions effective 2026-05-15. He had 40,245 shares acquired (code A) when performance share units vested at target, and he disposed of 1,356,544 MPX shares (code J) at $8.18 per share, generating proceeds reported as $11,096,530. The disposition was made pursuant to the Merger Agreement with MasterCraft Boat Holdings.
Key Details
- Transaction date: 2026-05-15; Form 4 filed 2026-05-19 (timely under Form 4 rules).
- Acquisition (A): 40,245 shares — result of performance share units vesting at target immediately prior to merger effectiveness.
- Disposition (J): 1,356,544 shares sold at $8.18 each for total reported value $11,096,530.
- Merger consideration: per the Merger Agreement, each MPX share was exchanged for the right to receive 0.232 shares of MasterCraft common stock plus $2.43 in cash (less withholding).
- Shares owned after transaction: not specified in the filing.
- Footnotes: Transactions were merger-related (vesting of restricted stock and PSUs, then exchange under the merger). This is not an open-market sale.
Context
These actions reflect automatic vesting and conversion tied to the merger, not an independent open-market sale by the insider — so they are procedural outcomes of the Merger Agreement (PSUs vested, restricted stock vested, then exchanged for MasterCraft stock and cash). For retail investors, merger-driven dispositions are routine and do not, by themselves, indicate insider sentiment about the combined company.
Insider Transaction Report
- Award
Common Stock, $.10 Par Value
[F1]2026-05-15+40,245→ 1,356,544 total - Other
Common Stock, $.10 Par Value
[F2]2026-05-15$8.18/sh−1,356,544$11,096,530→ 0 total
Footnotes (2)
- [F1]The reported securities were acquired of pursuant to the terms of the Agreement and Plan of Merger (the "Merger Agreement"), dated as of February 5, 2026, by and among MasterCraft Boat Holdings, Inc., a Delaware corporation ("MasterCraft"). Immediately prior to effectiveness of the merger, each outstanding performance share unit vested at target performance with dividend equivalents.
- [F2]The reported securities were disposed of pursuant to the terms of the Agreement and Plan of Merger (the "Merger Agreement"), dated as of February 5, 2026, by and among MasterCraft Boat Holdings, Inc., a Delaware corporation ("MasterCraft"). Immediately prior to effectiveness of the merger, each outstanding share of restricted stock vested in full. Upon effectiveness of the merger, in exchange for each share of Common Stock, the reporting person received the right to receive 0.232 shares of MasterCraft Common Stock, par value $0.01 per share and $2.43 in cash, without interest and less applicable withholding taxes.