Submission of Matters to a Vote of Security Holders - Form 8-K

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

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On April 23, 2024, during the annual meeting of stockholders of Marine Products Corporation (the "Company"), the stockholders approved the 2024 Stock Incentive Plan. The material terms of the Agreement were previously reported in the Company's Proxy Statement dated March 14, 2024 (the "Proxy Statement"), under the caption "Proposal 3: Approval of the 2024 Stock Incentive Plan." The Agreement was filed as Appendix A to the Proxy Statement. Proposal 3 and Appendix A of the Proxy Statement are hereby incorporated by reference herein.

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The 2024 Stock Incentive Plan authorizes the Human Capital Management and Compensation Committee of the Board of Directors of the Company to grant to directors, officers and other key employees stock options and other equity compensation as more fully described and summarized in the Company's Proxy Statement.

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