UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
ROLLINS, R. RANDALL
c/o Marine Products Corporation
2170 Piedmont Road, N.E.
Atlanta, GA 30324
USA
2. Issuer Name and Ticker or Trading Symbol
MARINE PRODUCTS CORPORATION
MPX
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
12/31/2002
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director (X) 10% Owner ( ) Officer (give title below) ( ) Other
(specify below)
Director and 10% Owner
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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Common Stock |12-31-|J(A)| |206,193 |D | |0 |I |RIF-Trustee |
|02 | | | | | | | | |
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Common Stock |12-31-|J(A)| |47,329 |D | |0 |I |RIF-Gen. Ptnr. |
|02 | | | | | | | | |
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Common Stock |12-31-|J(A)| |46,224 |D | |47,520 |I |Cust./Guardian Trustee of T|
|02 | | | | | | | |rust |
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Common STock |12-31-|J(A)| |48,960 |D | |48,576 |I |Co-Trustee of Trust |
|02 | | | | | | | | |
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Common Stock |12-31-|J(A)| |7,496,296 |D | |0 |I |LOR, Inc. |
|02 | | | | | | | | |
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Common Stock |12-31-|J(A)| |44,058 |D | |0 |I |RWR Inv. Partnership |
|02 | | | | | | | | |
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Common STock |12-31-|J(A)| |207,360 |D | |0 |I |Rollins Holding Co. |
|02 | | | | | | | | |
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Common Stock |12-31-|J(A)| |733,800 |D | |0 |I |By LLC |
|02 | | | | | | | | |
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Common Stock |12-31-|J(A)| |10,068,569 |A | |10,068,569 |I |Indirect-RFPS Investments I|
|02 | | | | | | | |II, L.P. |
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| | | | | | |13,999 |I |By Spouse |
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| | | | | | |302,411 |D | |
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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| | | | | | | | | | | | | | |
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Explanation of Responses:
(a) The Reporting Person beneficially and indirectly owns a portion of the
Marine Products Corporation (MPC) shares owned by the following entities:
LOR, Inc. a Georgia
corporation
Rollins Holding Company, Inc., a Georgia
corporation
Rollins Investment Fund, a Georgia general
partnership
The Reporting Person reports indirect holdings of MPC shares as Trustee,
co-Trustee or Manager of the following entities but has no pecuniary
interest in these
shares:
RWR Management Company, LLC, a Georgia limited liability company, as Manager
and Trustee of its sole Member
1976 Gary W. Rollins Grandchildren's Trust as co-Trustee
RCTLOR, LLC, a Georgia limited liability company, through LOR, Inc., its
Manager
All shares owned by the above entities were contributed to RFPS Investments
III, L.P. (RFPS), a Georgia limited partnership, along with MPC shares
contributed by the following entities and persons on formation of
RFPS:
Grace C. Rollins,
individually
Pamela R. Rollins,
individually
Timothy C. Rollins,
individually
Amy Rollins Kreisler,
individually
RRR Grandchildren's Custodial Partnership II, L.P., a Georgia limited
partnership
RRR Grandchildren's Custodial Partnership IV, L.P., a Georgia limited
partnership
1997 RRR Grandchildren's Partnership, a Georgia general partnership
The general partner of RFPS is LOR Investment Company, LLC, a Georgia limited
liability company, wholly owned by LOR, Inc. The Reporting Person is
an officer, director and shareholder of LOR, Inc. As a result of the
contribution to RFPS, the Reporting Person now reports an indirect interest in
all of
the MPC shares held by
RFPS.
The Reporting Person disclaims ownership of these shares in excess of his
pecuniary interest.
SIGNATURE OF REPORTING PERSON
R. Randall Rollins by Glenn P. Grove, Jr.
DATE
January 3, 2003