8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549  

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): July 1, 2021

MasterCraft Boat Holdings, Inc.

(Exact Name of Registrant as Specified in its Charter)

Delaware	001-37502	06-1571747
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)
100 Cherokee Cove Drive Vonore, Tennessee		37885
(Address of Principal Executive Offices)		(Zip Code)

(423) 884-2221

(Registrant’s telephone number, including area code)

Not applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425).
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12).
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)).
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)).

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock	MCFT	NASDAQ

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).                              Emerging growth company            ☐ 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.  

The Board of Directors of MasterCraft Boat Holdings, Inc. (“MaterCraft”) elected Jennifer Deason to the Board of Directors, effective July 1, 2021. Ms. Deason is expected to be appointed to the Audit and Strategy Committees of the Board of Directors.

Ms. Deason’s compensation will be consistent with that provided to all MasterCraft non-employee directors, as described in MasterCraft’s most recent proxy statement, filed with the Securities and Exchange Commission on September 17, 2020. There are not any transactions or relationships between MasterCraft and Ms. Deason, therefore nothing is required to be disclosed pursuant to Item 404 of Regulation S-K. In addition, the Board has determined that Ms. Deason is independent for purposes of the NASDAQ listing rules.

The news release announcing the election of Ms. Deason to the MasterCraft Board of Directors is included as Exhibit 99.1 to this Current Report on Form 8-K.

Item 9.01. Financial Statements and Exhibits.

(d)    Exhibits

The following exhibit is being furnished as part of this report:

Exhibit No.	Description
99.1	Press Release dated July 7, 2021
104	The cover page from this Current Report on Form 8-K, embedded within and formatted in Inline XBRL.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	MASTERCRAFT BOAT HOLDINGS, INC.
Dated July 7, 2021	/s/ TIMOTHY M. OXLEY
	Timothy M. Oxley
	Chief Financial Officer, Treasurer and Secretary

EX-99.1

Exhibit 99.1

MasterCraft Boat Holdings, Inc. Elects Jennifer Deason to Board of Directors

VONORE, Tenn., July 7, 2021 – MasterCraft Boat Holdings, Inc. (NASDAQ: MCFT) (the “Company”), a leading innovator, designer, manufacturer, and marketer of recreational powerboats, announced today that Jennifer Deason has been elected to its Board of Directors. The appointment will increase the size of the Company’s board to eight members, seven of which are independent.

“Jennifer is an accomplished executive and board member with an impressive track record of leading innovative companies across a diverse set of consumer-facing industries,” said Roch Lambert, Lead Independent Director. “Her leadership and financial experience will be invaluable at this stage of the Company’s growth as we work to accelerate our strategic objectives during this exciting time for the marine industry and the Company’s brands.”

Ms. Deason has over two decades of experience in corporate leadership. She's currently the Chairman and Chief Executive Officer of Belong Acquisition Corp.  Prior to launching Belong, Ms. Deason was Chief Business Officer/Chief Financial Officer of Flowcode. Ms. Deason also served as the Executive Vice President, Head of Corporate Development and Strategy for Sotheby's. Additionally, Ms. Deason served as Chief Financial Officer at the Weather Channel, where she worked to reposition the organization from a more traditional TV media company towards a data-focused, mobile-first advertising platform, prior to the sale of the digital and B2B businesses to IBM. Earlier in her career, she served as Executive Vice President at Bain Capital. While at Bain, Ms. Deason served in several interim operating roles such as President, Chief Marketing Officer and Chief Financial Officer and was a Board member of several portfolio companies. Ms. Deason holds an M.B.A. from Stanford University and a B.A. from Yale University, and is closely involved in both schools. Ms. Deason also serves as board member for DHI Group, Inc., Concentrix Corporation, and the Massachusetts Museum of Contemporary Art.

About MasterCraft Boat Holdings, Inc.

Headquartered in Vonore, Tenn., MasterCraft Boat Holdings, Inc. (NASDAQ: MCFT) is a leading innovator, designer, manufacturer, and marketer of recreational powerboats through its four brands, MasterCraft, NauticStar, Crest and Aviara. Through these four brands, MasterCraft Boat Holdings has leading market share positions in three of the fastest growing segments of the powerboat industry – performance sport boats, outboard saltwater fishing and pontoon boats – while entering the large, growing luxury day boat segment. For more information about MasterCraft Boat Holdings, and its four brands, visit: investors.mastercraft.com, www.MasterCraft.com, www.NauticStarBoats.com, www.CrestPontoonBoats.com, and www.AviaraBoats.com.

Investor Contact:

MasterCraft Boat Holdings, Inc.

George Steinbarger

Chief Revenue Officer

Email: investorrelations@mastercraft.com

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Document and Entity Information	Jul. 01, 2021
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Jul. 01, 2021
Entity Central Index Key	0001638290
Entity Registrant Name	MasterCraft Boat Holdings, Inc.
Entity Incorporation, State or Country Code	DE
Entity File Number	001-37502
Entity Tax Identification Number	06-1571747
Entity Address, Address Line One	100 Cherokee Cove Drive
Entity Address, City or Town	Vonore
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	37885
City Area Code	423
Local Phone Number	884-2221
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock
Trading Symbol	MCFT
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false