8-K
filed May 20, 2022, 7:59 PM ET
ticker MPX
CIK 0001129155
leadership
confidence high
sentiment neutral
materiality 0.65
Marine Products CEO Hubbell becomes Executive Chairman; Palmer promoted to CEO, Schmit new CFO
MARINE PRODUCTS CORP
- Richard Hubbell transitions from CEO to Executive Chairman; Gary Rollins steps down as Non-Executive Chairman but remains a director.
- Ben Palmer promoted from CFO to President and CEO, appointed to Board as Class I director.
- Michael Schmit appointed VP, CFO and Corporate Secretary, effective May 17, 2022.
- Palmer annual base salary $450k, stock grant of 40,000 RSUs; Hubbell $300k salary, 26,000 RSUs; Schmit $150k salary, 15,000 RSUs.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Ben M. Palmer was appointed as Class I Director at MARINE PRODUCTS CORP.
- Action
- appointed
- Role
- Class I Director
Exact text from the filing
Mr. Palmer was also appointed to the Board as a Class I director and the Executive Committee as of the Effective Date.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Richard A. Hubbell was appointed as Executive Chairman of the Board at MARINE PRODUCTS CORP.
- Action
- appointed
- Role
- Executive Chairman of the Board
Exact text from the filing
Richard A. Hubbell was appointed to serve as Executive Chairman of the Board for a period of one year or until his successor is appointed, effective upon the resignation of Gary W. Rollins as Non-Executive Chairman of the Board.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Gary W. Rollins resigned as Director at MARINE PRODUCTS CORP.
- Action
- resigned
- Role
- Director
Exact text from the filing
Gary W. Rollins, who served as Non-Executive Chairman following the passing of Mr. R. Randall Rollins, resigned from that position on the Effective Date, but remains on the Board.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Ben M. Palmer changed role as President and Chief Executive Officer at MARINE PRODUCTS CORP.
- Action
- promoted
- Role
- President and Chief Executive Officer
Exact text from the filing
Ben M. Palmer was appointed to serve as President and Chief Executive Officer of the Company for a period of one year or until his successor is appointed, effective upon the resignation of Mr. Hubbell from that position, which occurred on the Effective Date.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Michael L. Schmit was appointed as Vice President, Chief Financial Officer and Corporate Secretary at MARINE PRODUCTS CORP.
- Action
- appointed
- Role
- Vice President, Chief Financial Officer and Corporate Secretary
Exact text from the filing
Michael L. Schmit, age 49, was appointed to serve as Vice President, Chief Financial Officer and Corporate Secretary of the Company for a period of one year or until his successor is appointed, effective upon the resignation of Mr. Palmer from that position, which occurred on the Effective Date.
View on SEC.gov
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