Company: MCFT
Filing Date: 2025-04-07
Form Type: 8-K
Source: 0000950170-25-051361
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Company: MasterCraft Boat Holdings, Inc.
Filing Date: 2025-04-07
Form: 8-K
Item: Item 5.02
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Leadership Transition

On April 7, 2025, Timothy M. Oxley, Chief Financial Officer (“ CFO”) of MasterCraft Boat Holdings, Inc. (the “ Company”) announced his resignation as CFO, effective June 30, 2025 (the “ CFO Resignation Date”), and retirement from the Company, effective December 31, 2025 (the “ Retirement Date”), pursuant to a Retirement and Transition Agreement as summarized below. Scott Kent, Vice President of Finance, will succeed Mr. Oxley as CFO, effective July 1, 2025.

Mr. Kent has served as Vice President of Finance for the Company since 2018, leading the finance function, including accounting, financial planning and analysis, financial reporting, and treasury. Throughout his tenure, he has also helped lead operational and strategic advancements across the business. Prior to joining the Company, Mr. Kent served as Chief Financial Officer at Brunswick Boat Group and Recreational Boat Group, as well as various positions of increasing responsibility throughout his 33 years of professional experience, including 28 years of direct marine industry experience. Mr. Kent earned a Bachelor of Science in Accounting from Milligan College and was formerly a Certified Public Accountant.

Oxley’s Retirement Agreement

As noted above, in connection with Mr. Oxley’s retirement, the Company and Mr. Oxley entered into a Retirement and Transition Agreement, dated April 7, 2025 (the “ Retirement and Transition Agreement”), pursuant to which Mr. Oxley will resign from his position as CFO, effective June 30, 2025, and will remain employed as a Special Advisor of the Company until the Retirement Date (the “ Transition Period”). During the Transition Period, Mr. Oxley will be tasked with providing financial and strategic advice and support to ensure a smooth transition, advising on historical matters and such other activities as may be requested from time to time by the Board of Directors (the “ Board”). During the Transition Period, Mr. Oxley will be entitled to the following: (i) continuation of his base salary in effect prior to the CFO Resignation Date ($392,600 per annum) through the end of the Transition Period; (ii) a one-time grant of restricted stock units with a fair market value on the date of grant equal to $200,000, vesting on June 30,