Palmer Ben M 4
4 · MARINE PRODUCTS GROUP, LLC · Filed May 19, 2026
Research Summary
AI-generated summary of this filing
Marine Products (MPX) Former CEO Ben Palmer Sells 678,399 Shares
What Happened
Ben M. Palmer, former President & CEO and a director of Marine Products Group, reported two merger-related transactions on May 15, 2026. He disposed of 678,399 shares at $8.18 per share for total proceeds of $5,549,304 (transaction code J). He also acquired 75,303 shares (transaction code A) when outstanding performance share units vested at target immediately prior to the merger.
Key Details
- Transaction date: 2026-05-15; filing date: 2026-05-19 (filed within the SEC two-business-day window).
- Sale/Disposition: 678,399 shares @ $8.18 = $5,549,304 (code J).
- Award/Acquisition: 75,303 shares (performance share units vested at target) (code A).
- Ownership after transaction: not specified in the Form 4 provided.
- Footnotes: The acquisitions and dispositions occurred pursuant to the Agreement and Plan of Merger dated Feb 5, 2026. Upon merger effectiveness each outstanding restricted share vested and, in exchange for each MPX share, the holder received the right to 0.232 shares of MasterCraft Boat Holdings common stock plus $2.43 in cash (less applicable withholding taxes).
- Not an open-market trade — proceeds arose from merger consideration rather than a voluntary sale on the market.
Context
These transactions were corporate, merger-driven events (vested performance awards and merger exchange), not routine open-market purchases or discretionary sales by the insider. Such merger consideration exchanges and vesting events reflect deal mechanics rather than a direct signal of the insider’s market view.
Insider Transaction Report
- Award
Common Stock, $.10 Par Value
[F1]2026-05-15+75,303→ 678,399 total - Other
Common Stock, $.10 Par Value
[F2]2026-05-15$8.18/sh−678,399$5,549,304→ 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 and 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.