secwatch.observer — SEC 8-K summary
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Issuer:     MALIBU BOATS, INC. (MBUU)
CIK:        0001590976
Form:       8-K
Filed at:   2024-07-22T23:59:59+00:00
Accession:  0001590976-24-000055
Event type: leadership
Sentiment:  positive
Materiality: 0.75
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Malibu Boats names Polaris' Steven Menneto CEO; base salary $920k, equity grants
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- Steven Menneto named CEO effective Aug 5, 2024; also joins Board as Class II director.
- Previously President of Polaris Off-Road Div. (revenue doubled to $7B) and Motorcycle Div. (Indian from $3M to $500M revenue).
- Compensation: $920k base salary, FY2025 cash bonus $506k (55% of base); target bonus from FY2026 at 110% base.
- Equity: 14,363 Bonus RSUs (1-yr cliff), 44,064 Sign-On RSUs (3-yr ratable); future LTIP grants $800k (Nov 2024) & $2.7M target (Nov 2025).
- Office of the CEO dissolved; Hooks remains non-executive chair, Anderson stays as President.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1590976/000159097624000055/0001590976-24-000055-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1590976/000159097624000055/mbuu-20240718.htm
  HTML page:      https://secwatch.observer/filing/0001590976-24-000055

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