Form 4: MasterCraft Boat Holdings CFO Timothy Oxley Reports Stock Grant and PSU Payout
SEC Form 4
Chief Financial Officer of MasterCraft Boat Holdings, Timothy M. Oxley, reports receiving a stock grant and payout of Performance Share Units (PSUs) in a recent SEC filing.
Summary
- On September 3, 2024, Timothy M. Oxley, the Chief Financial Officer of MasterCraft Boat Holdings, Inc., reported transactions involving the company's common stock.
- Oxley was granted 11,198 shares of restricted stock under the 2015 Incentive Award Plan at a price of $17.53 per share.
- These restricted shares will vest in three equal annual installments on June 30, 2025, 2026, and 2027.
- Oxley also received 407 shares related to the payout of Performance Share Units (PSUs) granted on July 27, 2021, at a price of $18.88 per share.
- 160 shares were withheld for tax purposes in connection with the PSU payout at a price of $18.88 per share.
- Following these transactions, Oxley beneficially owns 132,428 shares of MasterCraft Boat Holdings, Inc. common stock.
Sentiment
Score: 6
Explanation: The sentiment is neutral as it reports routine executive compensation transactions. It doesn't indicate any significant positive or negative developments for the company.
Positives
- The grant of restricted stock and payout of PSUs to the CFO could be seen as an incentive to align his interests with the long-term performance of the company.
Future Outlook
The restricted stock will vest in three equal annual installments on June 30, 2025, 2026, and 2027.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies within the recreational boating industry.
Comparison to Industry Standards
- Executive compensation packages including stock grants and performance-based units are standard practice among publicly traded companies in the recreational vehicle and boating industry, such as Malibu Boats and Brunswick Corporation.
- The vesting schedules and performance metrics associated with these grants are typically designed to align executive incentives with shareholder value creation over a multi-year period.
Stakeholder Impact
- The stock grant and PSU payout could positively impact shareholder confidence by aligning executive interests with company performance.
Key Dates
| Date | Description |
|---|---|
| July 27, 2021 | Date of original PSU grant |
| September 3, 2024 | Date of stock grant and PSU payout |
| June 30, 2025 | First vesting date for restricted stock |
| June 30, 2026 | Second vesting date for restricted stock |
| June 30, 2027 | Final vesting date for restricted stock |
| September 5, 2024 | Date of signature on the SEC Form 4 |
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