8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): April 14, 2023

MALIBU BOATS, INC.

(Exact Name of Registrant as specified in its charter)

Commission file number: 001-36290

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):

Securities registered pursuant to Section 12(b) of the Act:

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

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

Resignation of Chief Financial Officer and Secretary

On April 14, 2023, Wayne Wilson notified Malibu Boats, Inc. (the “Company”) of his resignation as Chief Financial Officer and Secretary of the Company and from all other positions he holds with the Company and each of its subsidiaries. Mr. Wilson’s resignation as Chief Financial Officer and Secretary was effective April 19, 2023. Mr. Wilson will actively serve in an advisory role and assist with the transition through May 12, 2023.

Appointment of Interim Chief Financial Officer

In connection with Mr. Wilson’s resignation, on April 18, 2023, the Board of Directors (the “Board”) of the Company appointed David Black, the Company’s Corporate Controller, to serve as the Company’s Interim Chief Financial Officer, with such appointment effective April 19, 2023. Mr. Black will perform the functions of the Company’s principal financial officer and principal accounting officer. The Company has initiated a search process to identify and appoint a new permanent Chief Financial Officer and Secretary.

Mr. Black, 40, has served as the Company’s Corporate Controller since November 2020, having previously served as the Company’s Director of Internal Audit since 2017. Mr. Black has over 16 years of experience in accounting and finance working for both public and private companies. Mr. Black received a B.A. in Finance from Fairmont State University. Mr. Black is a Certified Public Accountant (CPA) and Certified Internal Auditor (CIA).

In connection with Mr. Black’s appointment as Interim Chief Financial Officer, the Compensation Committee of the Board approved a special incentive bonus equal to $50,000 to be payable to Mr. Black upon the successful completion of his duties as Interim Chief Financial Officer. Mr. Black has also entered into an indemnification agreement with the Company in the form previously approved by the Board and filed with the Securities and Exchange Commission as Exhibit 10.19 to the Company’s Registration Statement on Form S-1 (File No. 333-192862) on December 13, 2013.

There are no arrangements or understandings between Mr. Black and any other persons pursuant to which he was selected as an officer of the Company. There are also no family relationships between Mr. Black and any director or executive officer of the Company and Mr. Black has no direct or indirect material interest in any related party transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.

Item 7.01 Regulation FD Disclosure.

On April 20, 2023, the Company issued a press release announcing the resignation of Mr. Wilson as Chief Financial Officer of the Company and the appointment of Mr. Black as Interim Chief Financial Officer of the Company.

A copy of the press release is furnished as Exhibit 99.1 hereto. This information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and is not incorporated by reference into any filing of the Company whether made before or after the date hereof, regardless of any general incorporation language in such filing.

Item 9.01 Financial Statements and Exhibits.

(d)    Exhibits

The following exhibit is being furnished as part of this report:

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Document

Malibu Boats, Inc. Announces Leadership Changes

David Black appointed Interim Chief Financial Officer, following the resignation of Wayne Wilson, the Company’s current Chief Financial Officer

LOUDON, Tenn., April 20, 2023 (Globe Newswire) – Malibu Boats, Inc. (Nasdaq: MBUU) announced today the appointment of David Black as Interim Chief Financial Officer, effective April 19, 2023. Malibu’s current Chief Financial Officer, Wayne Wilson has notified the Company of his resignation to pursue a similar role at a private equity-backed private company in Knoxville, Tennessee. Mr. Wilson will actively serve in an advisory role and assist with the transition through May 12, 2023. The Board of Directors has initiated a search for Mr. Wilson’s successor.

“For almost fourteen years, Wayne has been a critical partner in creating and implementing the Company’s strategic vision and positioning Malibu Boats for future success. His intelligence and understanding of the business are extraordinary, and while he will be missed, we know this is an opportunity for him to expand professionally,” commented Jack Springer, Chief Executive Officer and Director of Malibu Boats Inc. “Wayne leaves behind a strong finance organization that supports over 3,000 team members committed to our next generation of growth. On behalf of everyone at Malibu, I would like to deeply thank Wayne for his leadership, dedication, and many contributions to the Company.”

Mr. Black has served as Malibu’s Corporate Controller since November 2020, having previously served as the Company’s Director of Internal Audit since 2017. He has also played an active role in the due diligence and integration activities related to Malibu’s acquisitions since 2017. He has over sixteen years of experience in accounting and finance, working for both public and private companies. Mr. Black received a B.A. in Finance from Fairmont State University, and is a Certified Public Accountant (CPA) and Certified Internal Auditor (CIA).

“On behalf of the Board of Directors, we want to thank Wayne for his commitment to Malibu and wish him all the best in his next chapter,” commented Michael K. Hooks, Chairman of Malibu Boat’s Board of Directors. “David brings a wealth of industry knowledge and financial expertise, along with a demonstrated track record of supporting the execution of our strategic initiatives. We have the utmost confidence that this will be a smooth transition as we commence the search for our next CFO of Malibu Boats.”

“It has been an honor for me to work with such a talented team and be part of the incredible transformation and growth at Malibu Boats. I leave knowing that Malibu remains incredibly well-positioned – competitively, operationally and financially – to expand its leadership as the premier recreational boats manufacturer. I appreciate the opportunity provided to me by the

Board and Jack and look forward to watching the continued success of Malibu Boats,” noted Wayne Wilson, Chief Financial Officer of Malibu Boats Inc.

About Malibu Boats, Inc.

Based in Loudon, Tennessee, Malibu Boats, Inc. (MBUU) is a leading designer, manufacturer and marketer of a diverse range of recreational powerboats, including performance sport, sterndrive and outboard boats. Malibu Boats, Inc. is the market leader in the performance sport boat category through its Malibu and Axis boat brands, the leader in the 20’ - 40’ segment of the sterndrive boat category through its Cobalt brand, and in a leading position in the saltwater fishing boat market with its Pursuit and Cobia offshore boats and Pathfinder, Maverick, and Hewes flats and bay boat brands. A pre-eminent innovator in the powerboat industry, Malibu Boats, Inc. designs products that appeal to an expanding range of recreational boaters, fisherman and water sports enthusiasts whose passion for boating is a key component of their active lifestyles. For more information, visit www.malibuboats.com, www.axiswake.com, www.cobaltboats.com, www.pursuitboats.com, or www.maverickboatgroup.com.

Contacts

Malibu Boats, Inc.

InvestorRelations@MalibuBoats.com