Schmit Michael 4

What Happened
Michael Schmit, former Chief Financial Officer and Corporate Secretary of Marine Products Group, reported two merger-related transactions on 2026-05-15. He received 22,339 shares as the vesting of performance share units (no cash price reported). He also disposed of 100,577 shares at $8.18 per share, generating reported proceeds of $822,720. Both actions were tied to the company’s Agreement and Plan of Merger with MasterCraft Boat Holdings.

Key Details

• Transaction dates: May 15, 2026 (reported on Form 4 filed May 19, 2026).
• Award/acquisition (code A): 22,339 shares acquired (price N/A) — performance share units vested at target plus dividend equivalents (Footnote F1).
• Disposition (code J): 100,577 shares disposed at $8.18/share for $822,720 (Footnote F2). Under the merger terms each MPX share converted into the right to 0.232 MasterCraft shares plus $2.43 in cash, less taxes.
• Shares owned after the transactions: not specified on the reported Form 4.
• Filing: Form 4 dated/entered May 19, 2026 (no late-filing flag noted).

Context
These were corporate-merger driven events (vesting of PSUs and conversion/settlement of restricted stock under the Merger Agreement) rather than open-market purchases or discretionary sales. Such transaction codes and footnotes indicate administrative conversion and payout tied to the merger consideration, not necessarily a personal market-timing decision.