Malibu Boats 2026 Annual Meeting: What Shareholders Need to Know
Malibu Boats, Inc. (NASDAQ: MBUU) has scheduled its 2026 annual meeting of stockholders for November 3, 2026, with shareholders set to vote on director elections, the company’s auditor, executive compensation, and proposed charter amendments. The company disclosed the meeting details and executive compensation information in its 2026 proxy statement filed with the SEC.
The meeting comes after Malibu Boats reported fiscal 2026 net sales of $914.6 million, gross profit of $146.5 million, net income of $1.7 million, and adjusted EBITDA of $73.9 million.
When Is the Malibu Boats 2026 Annual Meeting?
The annual meeting is scheduled for:
| Meeting Detail | Information |
|---|---|
| Date | November 3, 2026 |
| Time | 8:00 a.m. Eastern Time |
| Location | Meeting House at RT Lodge, Maryville, Tennessee |
| Record Date | September 8, 2026 |
| Company | Malibu Boats, Inc. |
| Ticker | MBUU |
Shareholders of record as of September 8, 2026 are eligible to vote at the meeting.Malibu Boats’ financial performance can also matter to prospective buyers considering the broader cost of purchasing a new vessel, including the interest rate on a boat loan.
What Will Malibu Boats Shareholders Vote On?
The 2026 proxy outlines several matters for shareholder consideration.
The agenda includes:
- Election of two Class I directors for three-year terms.
- Ratification of KPMG LLP as Malibu Boats’ independent registered public accounting firm for fiscal 2027.
- Advisory vote on executive compensation, commonly known as a say-on-pay vote.
- Amendment concerning removal of directors from the company’s certificate of incorporation.
- Amendment concerning officer liability limitations under Delaware law.
The say-on-pay vote is advisory rather than a direct change to an executive’s compensation.
How Much Did Malibu Boats CEO Steven Menneto Make in 2026?
Malibu Boats President and CEO Steven D. Menneto received reported total compensation of $4,557,820 for fiscal 2026, according to the company’s proxy statement.
His reported compensation included:
| Compensation | Fiscal 2026 |
|---|---|
| Base salary | $920,000 |
| Annual incentive payment | $1,012,000 |
| Stock awards | $2,610,914 |
| Other compensation | $14,906 |
| Total | $4,557,820 |
The reported total was higher than his $4,206,701 total compensation for fiscal 2025.
One important distinction is that the stock-award figure represents grant-date fair value under SEC reporting rules. It does not necessarily represent the amount of cash ultimately realized from those awards.
How Is Malibu Boats’ CEO Compensation Structured?
The company’s 2026 compensation structure included both time-based and performance-based equity.
For Menneto’s fiscal 2026 long-term equity award, 40% consisted of time-based restricted shares, while 60% consisted of performance-based awards linked to relative total shareholder return and adjusted EBITDA.
His annual incentive payment was $1.012 million, based on the company’s disclosed performance criteria. The proxy also states that the annual incentive opportunity was tied to net income and adjusted EBITDA performance.
This means the headline CEO compensation figure should be read together with the underlying mix of salary, annual incentives, and equity awards.
What Were Malibu Boats’ Fiscal 2026 Financial Results?
Malibu Boats reported the following fiscal 2026 figures:
- Net sales: $914.6 million
- Gross profit: $146.5 million
- Net income: $1.7 million
- Adjusted EBITDA: $73.9 million
- Share repurchases: approximately $33.9 million
The company also reported that net sales per unit increased 12.2%, reflecting a shift toward larger, higher-priced boats.For readers evaluating the cost of financing a new boat, current boat loan interest rates can have a significant impact on monthly payments and the overall cost of ownership.
The company said it continued to face a soft retail environment and dealer inventory reductions during the fiscal year.
What Changed With the Malibu Boats Board?
Michael J. Connolly has notified the board that he does not intend to stand for re-election at the 2026 annual meeting. His current term expires at the meeting.
Malibu Boats disclosed that its board would therefore decrease from nine directors to eight when Connolly’s term expires. The company said his decision was not the result of a disagreement with Malibu Boats over its operations, policies, or practices.
Why Does the 2026 Meeting Matter to MBUU Investors?
The meeting combines several areas relevant to shareholders: board composition, auditor approval, executive compensation, and corporate-governance provisions.
The CEO compensation disclosure is particularly relevant because a significant portion of Menneto’s long-term award is performance-based. The company’s proxy identifies adjusted EBITDA, relative total shareholder return, and net income among the financial performance measures used to connect executive compensation with company performance.
However, the annual meeting vote itself should not be confused with an approval of the company’s future financial performance. The shareholder proposals address governance and compensation matters rather than guaranteeing future operating results.
Key Takeaways
- Malibu Boats will hold its 2026 annual meeting on November 3, 2026.
- The meeting will take place in Maryville, Tennessee, at 8:00 a.m. Eastern.
- Shareholders will vote on directors, the auditor, executive compensation, and two proposed charter amendments.
- CEO Steven Menneto’s reported fiscal 2026 compensation was $4.56 million.
- Malibu Boats reported $914.6 million in fiscal 2026 net sales and $73.9 million in adjusted EBITDA.
- The board is expected to decrease from nine to eight directors following Michael Connolly’s departure from the board at the meeting.
Source: Malibu Boats’ 2026 proxy statement filed with the U.S. Securities and Exchange Commission.
FAQs
1. When and where will Malibu Boats hold its 2026 annual meeting?
The 2026 annual meeting will be held on November 3, 2026, at 8:00 a.m. Eastern Time at the Meeting House at RT Lodge, 1406 Wilkinson Pike, Maryville, Tennessee 37803. Stockholders of record as of September 8, 2026, may vote.
2. What will Malibu Boats stockholders vote on at the 2026 annual meeting?
Stockholders will vote on several matters, including:
- Election of two Class I directors
- Ratification of KPMG LLP as the company’s independent auditor for fiscal 2027
- Advisory approval of executive compensation
- Two proposed charter amendments concerning director removal and officer liability limitations
3. How did Malibu Boats perform financially in fiscal 2026?
Malibu Boats reported $914.6 million in net sales, $146.5 million in gross profit, $1.7 million in net income, and $73.9 million in adjusted EBITDA for fiscal 2026. The company also reported challenges from a soft retail environment and reductions in dealer inventory.
4. How much did Malibu Boats return to stockholders in fiscal 2026?
Malibu Boats returned approximately $33.9 million to stockholders during fiscal 2026 through its stock repurchase program. The company said the repurchases were supported by strong cash generation during the year.
5. How much was Malibu Boats CEO Steven D. Menneto paid in fiscal 2026?
CEO Steven D. Menneto received a $920,000 base salary, a $1.012 million annual incentive payment, and stock awards with a grant-date fair value of approximately $2.6 million. His total reported compensation for fiscal 2026 was $4,557,820.
6. What charter amendments is Malibu Boats asking stockholders to approve?
The Board is seeking approval of amendments to the company’s certificate of incorporation involving provisions concerning the removal of directors and limitations on the liability of certain officers. The company says the changes are intended to align with recent amendments to Delaware law.
7. How have stockholders voted on Malibu Boats’ executive compensation program?
Since the redesigned executive compensation program was introduced for fiscal 2020, more than 97% of votes cast on Malibu Boats’ say-on-pay proposals at each annual meeting have supported the company’s executive compensation program.
Michael Carter is a financial research writer specializing in vehicle financing, loan calculations, interest rates, and consumer budgeting. He creates practical, easy-to-understand resources that help readers make more informed financing decisions.
