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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
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CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): January 23, 2007
MARINE PRODUCTS CORPORATION
(Exact name of registrant as specified in its charter)
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Delaware 1-16263 58-2572419
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
2170 Piedmont Road, NE, Atlanta, Georgia 30324
(Address of principal executive office) (zip code)
Registrant's telephone number, including area code: (404) 321-7910
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 (see General Instruction A.2. below):
|_| 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))
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangement of Certain Officers.
Executive Officer Compensation
On January 23, 2007, the Compensation Committee of the Board of Directors
approved discretionary annual bonuses for 2006 for certain of its executive
officers as follows:
2006
Name Title Cash Bonus
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Richard A. Hubbell President and Chief Executive Officer $140,000
R. Randall Rollins Chairman $176,000
Vice President, Chief Financial Officer
Ben M. Palmer and Treasurer $ 88,000
Linda H. Graham Vice President and Secretary $ 32,000
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, Marine
Products Corporation has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Marine Products Corporation.
Date: January 26, 2007 /s/ Ben M. Palmer
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Ben M. Palmer
Vice President,
Chief Financial Officer and
Treasurer
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