MCBC Holdings,Inc. (NASDAQ:MCFT) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

ME Staff 8-k
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MCBC Holdings,Inc. (NASDAQ:MCFT) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(b)

On December 21, 2016, the Board of Directors (the “Board”) of MCBC Holdings, Inc. (the “Company”), upon recommendation by the Company’s Nominating and Corporate Governance Committee, elected Tzau-Jin (TJ) Chung to serve as an independent Class II director of the Company, effective December 21, 2016. Mr. Chung has also been appointed to serve on the Company’s Compensation Committee, effective December 21, 2016. Mr. Chung will be entitled to receive compensation under the Company’s non-employee director compensation policy, including a grant of restricted stock. In addition, Mr. Chung will also enter into the Company’s standard indemnification agreement with directors.

Also on December 21, 2016, Joseph M. Deignan and Christopher Keenan informed the Company that they will be resigning from the Company’s board of directors effective December 21, 2016 in order to devote their full attention to the management of other portfolio companies of Wayzata Investment Partners LLC. Each of Mr. Deignan and Mr. Keenan advised the Company that their decision to resign did not involve any disagreement with the Company.

A copy of the Company’s press release announcing Mr. Chung’s appointment is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

99.1 Press release, dated December 23, 2016.


About MCBC Holdings, Inc. (NASDAQ:MCFT)

MCBC Holdings, Inc. (MCBC) is a holding company. The Company is a designer and manufacturer of inboard tournament ski boats and V-drive runabouts under the MasterCraft brand. The Company operates through two segments: MasterCraft and Hydra-Sports. The MasterCraft product brand consists of recreational performance boats primarily used for water skiing, wakeboarding and wake surfing, and general recreational boating. The Company distributes the MasterCraft product brand through its dealer network. The Company manufactures a range of Hydra-Sports recreational fishing boats. It also leases a parts warehouse in the United Kingdom to expedite service, primarily to dealers and customers in the European Union. Its MasterCraft-branded portfolio includes Star Series, XSeries and NXT boats. In addition, MCBC offers various accessories, including trailers and aftermarket parts. The Company operates primarily through its subsidiaries, MasterCraft Boat Company, LLC and MCBC Hydra Boats, LLC.

MCBC Holdings, Inc. (NASDAQ:MCFT) Recent Trading Information

MCBC Holdings, Inc. (NASDAQ:MCFT) closed its last trading session up +0.20 at 14.15 with 142,668 shares trading hands.