secwatch.observer — SEC 8-K summary
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Issuer:     MALIBU BOATS, INC. (MBUU)
CIK:        0001590976
Form:       8-K
Filed at:   2024-02-20T23:59:59+00:00
Accession:  0001590976-24-000016
Event type: leadership
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CEO Jack Springer to depart by May 17; Anderson named President, Hooks Executive Chair
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- Springer to resign as CEO and Board member by May 17, 2024; will serve as consultant for up to 4 years with equity vesting.
- Ritchie Anderson promoted from COO to President; base salary raised to $650k, target bonus 90%, $4M RSU grant over 4 years.
- Michael Hooks appointed Executive Chair; receives $50k/month fee, $10k monthly discretionary bonus, $230k fully vested shares.
- FY2024 guidance reaffirmed: net sales decline mid-to-high 30% YoY, Adj. EBITDA margin down 800-900 bps YoY.
- Board initiates search for permanent CEO; interim Office of CEO comprised of Hooks and Anderson.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1590976/000159097624000016/0001590976-24-000016-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1590976/000159097624000016/mbuu-20240215.htm
  HTML page:      https://secwatch.observer/filing/0001590976-24-000016

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer