Gary W. Rollins Group Secures Board Nomination Rights at MasterCraft with 23.1% Stake

Gary W. Rollins and a family group disclosed a 23.1% stake in MasterCraft Boat Holdings, Inc. common stock. The group received shares on May 15, 2026, when MasterCraft closed its merger with Marine Products Corporation, converting their Marine Products stock into MasterCraft shares plus cash. The deal also gives the group registration rights and governance terms that can shape the company’s board.

Investor Intent

The group obtained its stake through the Marine Products merger and signed a Stockholders Agreement that limits near‑term sales and sets governance terms. Under the agreement, “no Stockholder may transfer its shares of Company Common Stock for six months,” and from months six to twelve, each holder may sell no more than half of its stake, subject to limited exceptions.

While the group agreed to voting and standstill commitments for two years, it also secured influence over the board. For as long as the Stockholders hold at least 15% of voting power, “the Stockholders shall collectively have the right to nominate two directors,” and they can nominate one director while holding at least 10% but less than 15%.

Investor's Background

Gary W. Rollins is Executive Chairman Emeritus of Rollins, Inc., the pest control company best known for the Orkin brand. The family holds investments through trusts and LOR, Inc., a private investment holding company, often for estate planning and long-term ownership. The group tends to build sizable, strategic stakes and use negotiated agreements to manage liquidity and governance.

Original SEC Filing: MasterCraft Boat Holdings, Inc. [ MCFT ] - SCHEDULE 13D - May. 22, 2026