STOCK-BASED COMPENSATION	3 Months Ended
Mar. 31, 2026
STOCK-BASED COMPENSATION
STOCK-BASED COMPENSATION	6. STOCK-BASED COMPENSATION The Company has issued various forms of stock incentives, including incentive and non-qualified stock options, time-lapse restricted shares, and performance stock unit awards under its Stock Incentive Plans to officers, selected employees and non-employee directors. In the first quarter of 2026, the Company issued 380,200 time-lapse restricted shares under the 2024 Stock incentive Plan, to certain employees that will vest ratably over a period of three years. In addition, the Company granted performance share unit awards to its executive officers that vest at different levels based on the achievement of pre-established financial performance targets together with a modifier for stock performance based on total shareholder return. The awards are issued at different levels ranging among threshold, target and maximum with interpolation used for financial performance achieved within those levels. PSUs are subject to a three-year cliff vesting. The Company periodically evaluates the portion of awards that are probable to vest and updates the compensation expense accrual accordingly. As of March 31, 2026, there were 1,926,214 shares available for grant under the Company’s 2024 Stock Incentive Plan, which has a 10-year term. Treatment of Marine Products Equity Awards in the Proposed Transaction with MasterCraft Immediately prior to the First Effective Time, each outstanding Marine Products restricted stock award ("Marine Products RSAs”), will accelerate and vest in full and be treated in the same manner as shares of Marine Products common stock for purposes of receiving the Merger Consideration, except that Marine Products RSAs awarded in 2026 and held by employees who continue with the combined company following the closing date (the “Assumed RSAs”) will convert into MasterCraft RSAs, with the same time-vesting restrictions as the existing Marine Products RSAs, provided that the Assumed RSAs will also include double-trigger change-in-control vesting provisions following the Mergers. In addition, each unvested Marine Products performance stock unit (“Marine Products PSU”) with an incomplete performance period as of the closing date of the Mergers will vest based on “target” performance and be treated in the same manner as shares of Marine Products common stock for purposes of receiving the Merger Consideration, while each unvested Marine Products PSU with a completed performance period as of the closing date of the Mergers will vest based on “actual” performance and be treated in the same manner as shares of Marine Products common stock for purposes of receiving the Merger Consideration.

STOCK-BASED COMPENSATION

3 Months Ended

Mar. 31, 2026

6. STOCK-BASED COMPENSATION

The Company has issued various forms of stock incentives, including incentive and non-qualified stock options, time-lapse restricted shares, and performance stock unit awards under its Stock Incentive Plans to officers, selected employees and non-employee directors.

In the first quarter of 2026, the Company issued 380,200 time-lapse restricted shares under the 2024 Stock incentive Plan, to certain employees that will vest ratably over a period of three years. In addition, the Company granted performance share unit awards to its executive officers that vest at different levels based on the achievement of pre-established financial performance targets together with a modifier for stock performance based on total shareholder return. The awards are issued at different levels ranging among threshold, target and maximum with interpolation used for financial performance achieved within those levels.

PSUs are subject to a three-year cliff vesting. The Company periodically evaluates the portion of awards that are probable to vest and updates the compensation expense accrual accordingly.

As of March 31, 2026, there were 1,926,214 shares available for grant under the Company’s 2024 Stock Incentive Plan, which has a 10-year term.

Treatment of Marine Products Equity Awards in the Proposed Transaction with MasterCraft

Immediately prior to the First Effective Time, each outstanding Marine Products restricted stock award ("Marine Products RSAs”), will accelerate and vest in full and be treated in the same manner as shares of Marine Products common stock for purposes of receiving the Merger Consideration, except that Marine Products RSAs awarded in 2026 and held by employees who continue with the combined company following the closing date (the “Assumed RSAs”) will convert into MasterCraft RSAs, with the same time-vesting restrictions as the existing Marine Products RSAs, provided that the Assumed RSAs will also include double-trigger change-in-control vesting provisions following the Mergers. In addition, each unvested Marine Products performance stock unit (“Marine Products PSU”) with an incomplete performance period as of the closing date of the Mergers will vest based on “target” performance and be treated in the same manner as shares of Marine Products common stock for purposes of receiving the Merger Consideration, while each unvested Marine Products PSU with a completed performance period as of the closing date of the Mergers will vest based on “actual” performance and be treated in the same manner as shares of Marine Products common stock for purposes of receiving the Merger Consideration.