secwatch.observer — SEC 8-K summary
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Issuer:     MARINE PRODUCTS CORP (MPX)
CIK:        0001129155
Form:       8-K
Filed at:   2022-05-20T23:59:59+00:00
Accession:  0001104659-22-063485
Event type: leadership
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Marine Products CEO Hubbell becomes Executive Chairman; Palmer promoted to CEO, Schmit new CFO
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1129155/000110465922063485/0001104659-22-063485-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1129155/000110465922063485/tm2216223d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-063485

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