Rollins Family Amends MasterCraft Stockholders Agreement, Relinquishing Director Removal Veto

summarizeSummary

The Rollins family group, a major shareholder, has agreed to amend a stockholders agreement with MasterCraft Boat Holdings, removing their right to veto the removal of their director nominees from MasterCraft's board, impacting post-merger governance.

check_boxKey Events

• Stockholders Agreement Amended

  The Rollins family group and MasterCraft Boat Holdings, Inc. entered into a First Amendment to their Stockholders Agreement on March 11, 2026.

• Director Removal Veto Removed

  The amendment eliminates a provision that required the Rollins family's written consent to remove their director nominees from the board of directors of MasterCraft Boat Holdings, Inc.

• Relates to Pending Merger

  This governance change is directly tied to Marine Products Corp's ongoing stock-and-cash merger with MasterCraft Boat Holdings, as previously disclosed in the company's last 10-K filing.

• Significant Shareholder Group

  The Rollins family group collectively beneficially owns 24,353,278 shares, representing 69.6% of Marine Products Corp's common stock.

auto_awesomeAnalysis

This Schedule 13D/A filing details a significant amendment to the Stockholders Agreement between the Rollins family group and MasterCraft Boat Holdings, Inc. The amendment removes a provision that previously required the Rollins family's consent to remove their director nominees from MasterCraft's board. This change, occurring in the context of Marine Products Corp's pending merger with MasterCraft, represents a shift in governance control, reducing the explicit protective rights of the Rollins family, who collectively own a substantial stake in Marine Products Corp. Investors should note this as a material update to the post-merger governance structure.