• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • AI Executive AssistantNEW
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • AI Executive AssistantNEW
  • Settings
  • RSS Feeds
PublishGo to AppAI Helper
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlertsPublish with Us
    Company
    AboutQuantisnow PlusContactJobsAI employees for your businessNEW
    Legal
    Terms of usePrivacy policyCookie policy

    SEC Form 11-K filed by Mayville Engineering Company Inc.

    6/20/25 3:45:31 PM ET
    $MEC
    Industrial Specialties
    Industrials
    Get the next $MEC alert in real time by email
    11-K 1 tmb-20241231x11k.htm 11-K

    Table of Contents

    ​

    UNITED STATES

    SECURITIES AND EXCHANGE COMMISSION

    Washington, D.C. 20549


    FORM 11-K


    FOR ANNUAL REPORTS OF EMPLOYEE STOCK PURCHASE, SAVINGS

    AND SIMILAR PLANS PURSUANT TO SECTION 15(d) OF

    THE SECURITIES EXCHANGE ACT OF 1934

    (Mark One)

    ​

    ​

    ☒

    ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

    ​

    For the fiscal year ended December 31, 2024

    OR

    ​

    ​

    ☐

    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

    ​

    For the transition period from __________ to __________

    Commission File Number 001-38894


    A.

    Full title of the plan and the address of the plan, if different from that of the issuer named below:

    Mayville Engineering Company, Inc.

    401(k) Plan

    B.

    Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:

    Mayville Engineering Company, Inc.

    135 S. 84th Street, Suite 300

    Milwaukee, Wisconsin 53214

    ​

    ​

    ​


    Table of Contents

    ​

    Mayville Engineering Company, Inc. 401(k) Plan

    Table of Contents

    ​

    ​

    REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

    1

    ​

    ​

    FINANCIAL STATEMENTS

    ​

    Statements of Net Assets Available for Benefits as of December 31, 2024 and 2023

    2

    Statement of Changes in Net Assets Available for Benefits for the Year Ended December 31, 2024

    3

    Notes to Financial Statements

    4

    ​

    ​

    SUPPLEMENTAL SCHEDULE—*

    ​

    Form 5500, Schedule H, Part IV, Line 4i—Schedule of Assets (Held at End of Year) as of December 31, 2024

    9

    ​

    ​

    EXHIBIT

    10

    ​

    ​

    SIGNATURE

    11

    23.1 Consent of Independent Registered Public Accounting Firm

    ​

    ​

    *Other supplementary schedules required by Section 2520.103-10 of the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974 have been omitted because they are not applicable.

    ​

    ​

    ​

    ​


    Table of Contents

    REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

    Plan Administrative Committee, Plan Administrator, and Plan Participants

    Mayville Engineering Company, Inc. 401(k) Plan

    Opinion on the Financial Statements

    We have audited the accompanying statements of net assets available for benefits of the Mayville Engineering Company, Inc. 401(k) Plan (the Plan) as of December 31, 2024 and 2023, and the related statement of changes in net assets available for benefits for the year ended December 31, 2024, and the related notes (collectively referred to as the financial statements). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2024 and 2023, and the changes in net assets available for benefits for the year ended December 31, 2024, in conformity with accounting principles generally accepted in the United States of America.

    Basis for Opinion

    These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on the Plan’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

    We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion.

    Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

    Supplemental Information

    The supplemental information in the accompanying Form 5500, Schedule H, Part IV, Line 4i - Schedule of Assets (Held at End of Year) as of December 31, 2024 has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplemental information is the responsibility of the Plan’s management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole.

    /s/ Wipfli LLP

    ​

    We have served as the Plan’s auditor since 2020.

    Minneapolis, Minnesota

    June 20, 2025

    ​

    ​

    1


    Table of Contents

    Mayville Engineering Company, Inc.

    401(k) Plan

    Statements of Net Assets Available for Benefits

    (in thousands)

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    December 31, 

    ​

        

    2024

        

    2023

    Assets:

    ​

    ​

      

    ​

    ​

      

    Investments at fair value:

     

    ​

      

     

    ​

      

    Mutual funds

    ​

    $

    122,967

    ​

    $

    95,961

    Collective trust fund

    ​

     

    —

    ​

     

    5,565

    Corporate common stock

    ​

     

    33,106

    ​

     

    48,075

    Net assets available for benefits

    ​

    $

    156,073

    ​

    $

    149,601

    ​

    See Notes to Financial Statements

    ​

    2


    Table of Contents

    Mayville Engineering Company, Inc.

    401(k) Plan

    Statement of Changes in Net Assets Available for Benefits

    (in thousands)

    ​

    ​

    ​

    ​

    ​

    ​

    Year Ended

    ​

        

    December 31, 2024

    Additions:

    ​

    ​

    ​

    Investment income:

     

    ​

      

    Net appreciation in fair value of investments

    ​

    $

    18,515

    Interest and dividends

    ​

     

    2,183

    Total investment income

    ​

     

    20,698

    Contributions:

    ​

     

      

    Participants

    ​

     

    9,362

    Company

    ​

     

    3,384

    Rollovers

    ​

     

    4,679

    Total contributions

    ​

     

    17,425

    Total additions

    ​

    ​

    38,123

    Deductions:

    ​

     

      

    Benefits paid to participants

    ​

     

    32,676

    Administrative expenses

    ​

     

    215

    Total deductions

    ​

     

    32,891

    Net increase before transfers

    ​

     

    5,232

    Plan transfers (see Note 4)

    ​

     

    1,240

    Net increase after transfers

    ​

     

    6,472

    Net assets available for benefits:

    ​

     

      

    Beginning of year

    ​

     

    149,601

    End of year

    ​

    $

    156,073

    ​

    See Notes to Financial Statements

    ​

    ​

    ​

    ​

    3


    Table of Contents

    Mayville Engineering Company, Inc.

    401(k) Plan

    Notes to Financial Statements

    December 31, 2024 and 2023

    (in thousands, except share amounts)

    Note 1. Description of Plan

    The following description of the Mayville Engineering Company, Inc. 401(k) Plan (the Plan) provides only general information. Participants should refer to the Plan document for a more complete description of the Plan’s provisions.

    General

    The Plan is a defined contribution plan covering substantially all employees of Mayville Engineering Company, Inc. (the Company). The Plan is intended to be a qualified retirement plan under the Internal Revenue Code (IRC) and the purpose is to enable eligible employees to save for retirement. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA), as amended.

    Eligibility

    Employees become eligible to participate in the Plan for both employee and employer match contributions on the first entry date after an employee’s hire date. The entry dates of the Plan are January 1, April 1, July 1 and October 1.

    Employees are also eligible to receive Company profit sharing contributions after they have completed 1,000 hours of service within a plan year and are employed by the Company on the last day of the Plan year. There are certain circumstances where the eligibility rules are waived including military leave, medical leave, retirement and death.

    Contributions

    Each year, participants may contribute up to 50% of pretax annual compensation, as defined by the Plan. Participants may elect to have any portion, or all of their contributions designated as Roth 401(k) contributions. Participants who have attained age 50 before the end of the Plan year are eligible to make catch-up contributions. Participants may also contribute amounts representing distributions from other qualified defined benefit or defined contribution plans (rollover). Participants direct the investment of their contributions into various investment options offered by the Plan. The Plan includes an auto-enrollment provision whereby all newly eligible employees are automatically enrolled in the Plan unless they affirmatively elect not to participate in the Plan. Automatically enrolled participants have their deferral rate set at 4% of eligible compensation and their contributions invested in a designated balanced fund until changed by the participant. The Plan also has a provision for auto-escalation of contribution rates of 1% each year, capped at 6%.

    All Plan participants are eligible for employer matching contributions equal to 50% of the participant’s contributions up to a maximum of 6% of eligible compensation.

    The Company can make a discretionary contribution of Company stock authorized by the Board of Directors. These Company discretionary contributions are usually approved at the end of each calendar year and funded in the subsequent year resulting in a contribution receivable on the Statements of Net Assets Available for Benefits. For a participant to be eligible for the Company discretionary contribution of Company stock, the participant must work 1,000 hours during the year and be employed at the end of the year. The Company did not make any discretionary contributions in the form of Company stock for the year ended December 31, 2024.

    Contributions are subject to certain Internal Revenue Service (IRS) limitations.

    Participant Accounts

    Each participant’s account is credited with the participant’s contributions, Company’s contributions and Plan earnings. Participant accounts are charged with an allocation of administrative expenses that are paid by the Plan. Allocations are based on participant earnings, account balances or specific participant transactions, as defined. The benefit to which a participant is entitled is the benefit that can be provided from the participant’s vested account balance.

    4


    Table of Contents

    Mayville Engineering Company, Inc.

    401(k) Plan

    Notes to Financial Statements — (Continued)

    Vesting

    Participants are immediately vested in their contributions and non-elective safe harbor contributions plus actual earnings thereon. Vesting in the Company’s match and discretionary contribution portion of their accounts is based on years of continuous service. Participants are 100% vested in the Company’s match and discretionary contributions after two years of credited service. Upon a participant’s death or total disability, each participant’s accrued benefits shall become 100% vested.

    Notes Receivable from Participants

    Participant loans are not permitted by the Plan.

    Payment of Benefits

    Active participants may elect a hardship distribution as eligible according to the Plan document under certain Plan and IRS conditions. On termination of service due to death, disability or retirement, a participant may elect to receive a lump sum amount equal to the value of the participant’s vested interest in his or her account or periodic installments. For termination of service and for other reasons, a participant may receive the value of the vested interest in his or her account as a lump sum distribution. However, if the value of the vested benefit is less than $5, a lump sum distribution will be made regardless of whether or not an election has been made.

    Forfeited Accounts

    At December 31, 2024 and 2023, forfeited nonvested accounts totaled $48, and $153, respectively. These accounts can be used as, or offset, future Company contributions or cover administrative expenses. For the year ended December 31, 2024, Company contributions were reduced by $354 from forfeited nonvested accounts.

    Administration

    The Company is the administrator of the Plan and has appointed Principal Financial Group as recordkeeper, custodian and trustee. The custodian is responsible for investing and safekeeping all of the assets of the Plan.

    Note 2. Summary of Significant Accounting Policies

    Basis of Accounting

    The Plan’s financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). Accordingly, the Plan’s financial statements are prepared on the accrual basis of accounting.

    Investment Valuation and Income Recognition

    Investments are reported at fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. See Note 5 for further discussion on fair value measurements.

    Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. Net appreciation includes the Plan’s gains and losses on investments bought and sold, as well as, held during the year.

    Use of Estimates

    The preparation of financial statements in conformity with GAAP requires the Plan administrator to make estimates and assumptions that affect the reported amounts of the Plan’s assets and liabilities and changes therein, and disclosure of contingent assets and liabilities. Actual results could differ from those estimates.

    5


    Table of Contents

    Mayville Engineering Company, Inc.

    401(k) Plan

    Notes to Financial Statements — (Continued)

    Expenses

    Administrative expenses may be paid either by the Plan or by the Company. Expenses paid by the Company are excluded from these financial statements. Certain expenses incurred in connection with the general administration of the Plan that are paid by the Plan are included in administrative expenses. In addition, certain investment related expenses are included in net appreciation in fair value of investments.

    Payments of Benefits

    Benefits are recorded when paid.

    Subsequent Events

    Subsequent events have been evaluated through the date the financial statements were available to be issued.

    Note 3. Plan Termination

    Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. In the event of Plan termination, participants would become 100% vested in their Company contributions.

    Note 4. Plan Transfers

    Plan transfers for the year ended December 31, 2024 consists of:

    ​

    ​

    ​

    ​

    ​

        

    2024

    ESOP diversification

    ​

    $

    1,240

    ESOP Diversification: Plan participants who also participate in the Mayville Engineering Company, Inc. Employee Stock Ownership Plan (ESOP) and meet certain eligibility requirements of that Plan are allowed to transfer a portion of their account balances from the ESOP to the 401(k) Plan under the diversification provisions of the ESOP Plan. Participants who have completed at least 10 years of service and have attained the age of 50 may elect to diversify their account balances and have the opportunity to transfer up to 25% of their ESOP balance into their Mayville Engineering Company, Inc. 401(k) Plan account during the next five-year period. After the five-year election period, additional transfers are allowed but are limited to 50% of their account balance.

    In addition to the above, of the $4,679 of rollovers listed on the Statement of Changes in Net Assets Available for Benefits, $3,618 relate to rollover contributions from the Company’s Employee Stock Ownership Plan.

    Note 5. Fair Value Measurements

    The framework for measuring fair value provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1) and the lowest priority to unobservable inputs (level 3). The three levels of the fair value hierarchy are described as follows:

    Level 1 – Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Plan has the ability to access.

    Level 2 – Inputs to the valuation methodology include:

    ●quoted prices for similar assets or liabilities in active markets;
    ●quoted prices for identical or similar assets or liabilities in inactive markets;
    ●inputs other than quoted prices that are observable for the asset or liability;

    6


    Table of Contents

    Mayville Engineering Company, Inc.

    401(k) Plan

    Notes to Financial Statements — (Continued)

    ●inputs that are derived principally from or corroborated by observable market data by correlation or other means.

    If the asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability.

    Level 3 – Inputs to the valuation methodology are unobservable and significant to the fair value measurement.

    The asset or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of relevant observable inputs and minimize the use of unobservable inputs.

    The following is a description of the methodologies used for assets measured at fair value. There have been no changes in the methodologies used at December 31, 2024 and 2023.

    Mutual Funds – Valued at the daily closing price as reported by the funds. Mutual funds held by the Plan are open-end mutual funds that are registered with the Securities and Exchange Commission. These funds are required to publish their daily net asset value (NAV) and to transact at that price. The mutual funds held by the Plan are deemed to be actively traded.

    Company Stock – Valued at the daily closing price as recorded by the New York Stock Exchange.

    Collective Trust Fund – Valued at the NAV of units of a collective trust fund. The NAV, as provided by the Trustee, is used as a practical expedient to estimate the fair value. The NAV is based on the fair value of the underlying investments held by the fund less its liabilities. This practical expedient is not used when it is determined to be probable that the fund will sell the investment for an amount different than the reported NAV. Participant transactions (purchases and sales) may occur daily. There are no unfunded commitments within the Plan. Were the Plan to initiate a full redemption of the common collective trust, the investment advisor reserves the right to delay withdrawal from the trust for twelve months in order to ensure that securities liquidations will be carried out in an orderly manner.

    The following table sets forth by level, within the fair value hierarchy, the Plan’s assets at fair value as of December 31, 2024:

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    2024

    ​

        

    Level 1

        

    Level 2

        

    Level 3

        

    Total

    Mutual funds

    ​

    $

    122,967

        

    $

    —

        

    $

    —

        

    $

    122,967

    Company stock

    ​

     

    33,106

    ​

     

    —

    ​

     

    —

    ​

     

    33,106

    Total investments at fair value

    ​

     

      

    ​

     

      

    ​

     

      

    ​

    $

    156,073

    ​

    ​

    7


    Table of Contents

    Mayville Engineering Company, Inc.

    401(k) Plan

    Notes to Financial Statements — (Continued)

    The following table sets forth by level, within the fair value hierarchy, the Plan’s assets at fair value as of December 31, 2023:

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    2023

    ​

    ​

    Level 1

    ​

    Level 2

    ​

    Level 3

    ​

    Total

    Mutual funds

        

    $

    95,961

        

    $

    —

        

    $

    —

        

    $

    95,961

    Company stock

    ​

     

    48,075

    ​

     

    —

    ​

     

    —

    ​

     

    48,075

    Investments measured at NAV:

    ​

     

      

    ​

     

      

    ​

     

      

    ​

     

      

    Collective trust fund**

    ​

     

      

    ​

     

      

    ​

     

      

    ​

     

    5,565

    Total investments at fair value

    ​

     

      

    ​

     

      

    ​

     

      

    ​

    $

    149,601


    **

    Certain investments that were measured at net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the line items presented in the Statements of Net Assets Available for Benefits.

    Note 6. Tax Status

    The Company adopted a prototype volume submitter profit sharing 401(k) Plan with a cash or deferral arrangement which received a letter from the IRS dated June 30, 2020, stating that the Plan and related trust are designed in accordance with applicable sections of the IRC. The plan has been amended since receiving the opinion letter. The Plan Administrator believes that the Plan is designed, and is currently being operated, in compliance with the applicable requirements of the IRC and, therefore, believe that the Plan is qualified and the related trust is tax-exempt.

    Note 7. Party-in-Interest and Related Party Transactions

    Fees incurred by the Plan for investment management by Principal Financial Group, or its affiliates, are included in net appreciation in fair value of investments, as they are paid through revenue sharing, rather than a direct payment. Fees paid by the Plan for other administrative services amounted to $215 for the year ended December 31, 2024, which is included under administrative expenses on the Statement of Changes in Net Assets Available for Benefits.

    The Plan also offers the Mayville Engineering Company (MEC) Stock Fund, which primarily consists of common stock as an investment option. The Company is the sponsoring employer and, therefore, a related party of the Plan. At December 31, 2024 and 2023, the Plan held 2,193,927 and 3,254,916 shares, respectively, of MEC common stock with a cost basis of $26,665 and $41,405, respectively. During 2024, the Plan acquired $4,337 of MEC Company stock. The Plan received proceeds from the sale of Company shares of $27,934 and realized a gain of $5,979 on these sales during 2024. The sales were participant directed transactions in 2024.

    Note 8. Risks and Uncertainties

    The Plan invests in various investment securities. Investment securities are exposed to various risks such as interest rate, market and credit risks. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect participants’ account balances and the amounts reported in the Statements of Net Assets Available for Benefits.

    ​

    ​

    8


    Table of Contents

    Mayville Engineering Company, Inc.

    401(k) Plan

    Schedule H, Line 4i – Schedule of Assets (Held at End of Year)

    December 31, 2024

    (in thousands)

    Plan Sponsor: Mayville Engineering Company, Inc.

    Plan Sponsor EIN: 39-0944729

    Plan Number: 003

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

        

    ​

    (b)

    ​

    (c)

    ​

    (d)

    ​

    (e)

    ​

    ​

    Identity of Issue, Borrow,

    ​

    Description of Investment Including Maturity Date, Rate

    ​

    ​

    ​

    ​

    ​

    ​

    (a)

      

    Lessor, or Similar Party

      

    of Interest, Collateral, Par, or Maturity Value

      

    Cost

      

    Current Value

    ​

    ​

    Mutual Funds

    ​

      

    ​

      

    ​

    ​

      

    ​

    ​

     

    T. Rowe Price

     

    Retirement 2030

     

    ​

    **

    ​

    $

    13,037

    ​

     

    T. Rowe Price

    ​

    Retirement 2035

    ​

    ​

    **

    ​

    ​

    11,560

    ​

     

    Fidelity

     

    500 Index

     

    ​

    **

    ​

    ​

    11,510

    ​

     

    T. Rowe Price

     

    Retirement 2040

     

    ​

    **

    ​

    ​

    10,903

    ​

     

    Janus Henderson

     

    Forty N

     

    ​

    **

    ​

     

    9,600

    ​

    ​

    T. Rowe Price

     

    Retirement 2025

     

    ​

    **

    ​

     

    8,414

    *

    ​

    Principal Global Investors

    ​

    Government Money Market R6 Fund

    ​

    ​

    **

    ​

    ​

    8,015

    ​

    ​

    T. Rowe Price

     

    Retirement 2045

     

    ​

    **

    ​

     

    6,989

    ​

     

    T. Rowe Price

     

    Retirement 2050

     

    ​

    **

    ​

     

    6,759

    ​

     

    Janus Henderson

     

    Research N

     

    ​

    **

    ​

     

    4,498

    ​

     

    T. Rowe Price

     

    Retirement 2055

     

    ​

    **

    ​

     

    4,298

    ​

    ​

    T. Rowe Price

     

    Retirement 2060

     

    ​

    **

    ​

     

    3,270

    ​

    ​

    Nuveen

     

    Small Cap Select

     

    ​

    **

    ​

     

    3,087

    ​

     

    Fidelity

     

    Advisor Stock Selector Mid Cap

     

    ​

    **

    ​

     

    2,669

    ​

     

    MFS

     

    Value R3

     

    ​

    **

    ​

     

    2,473

    ​

     

    T. Rowe Price

     

    Retirement 2020

     

    ​

    **

    ​

     

    2,338

    ​

     

    Capital Research and Mgmt. Co.

     

    American Funds Capital World Growth and Income R6

     

    ​

    **

    ​

     

    1,989

    ​

     

    T. Rowe Price

     

    Retirement 2065

     

    ​

    **

    ​

     

    1,982

    ​

     

    Capital Research and Mgmt. Co.

     

    American Funds EuroPacific Growth R6

     

    ​

    **

    ​

     

    1,889

    ​

     

    JPMorgan

     

    Mid Cap Value R6

     

    ​

    **

    ​

     

    1,736

    ​

     

    PIMCO

     

    Total Return Institutional

     

    ​

    **

    ​

     

    1,626

    ​

     

    T. Rowe Price

     

    Retirement Balanced

     

    ​

    **

    ​

     

    1,393

    ​

     

    Vanguard Group

     

    Inflation-Protected Securities Admiral

     

    ​

    **

    ​

    ​

    1,320

    ​

     

    Nuveen

     

    Mid Cap Growth Opportunities

     

    ​

    **

    ​

     

    1,109

    ​

     

    Nuveen

     

    Real Estate Securities

     

    ​

    **

    ​

     

    294

    ​

     

    T. Rowe Price

     

    Retirement 2010

     

    ​

    **

    ​

     

    162

    ​

     

    T. Rowe Price

     

    Retirement 2015

    ​

    ​

    **

    ​

    ​

    47

    ​

     

    Total Mutual Funds

    ​

    ​

    ​

    ​

    ​

    ​

     

    122,967

    ​

     

    Corporate Common Stock

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    *

     

    MEC

     

    Common stock, no par value

     

    ​

    **

    ​

     

    33,106

    ​

     

    Total

    ​

    ​

    ​

    ​

    ​

    ​

    $

    156,073


    * Represents a party-in-interest to the Plan.

    ** Information not required for participant directed investments

    ​

    See report of independent registered public accounting firm

    ​

    ​

    ​

    9


    Table of Contents

    Exhibit Index

    ​

    ​

    ​

    ​

    ​

    Exhibit

    Number

        

    Description

     

    23.1

    ​

    Consent of Independent Registered Public Accounting Firm

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    10


    Table of Contents

    SIGNATURES

    Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.

    ​

    ​

    ​

    ​

    ​

    ​

    Mayville Engineering Company, Inc. 401(k) Plan

    ​

    ​

    ​

    ​

    Date: June 20, 2025

    ​

    By:

    /s/ Rachele M. Lehr

    ​

    ​

    ​

    Rachele M. Lehr

    ​

    ​

    ​

    Chief Financial Officer

    ​

    11


    Get the next $MEC alert in real time by email

    Crush Q3 2025 with the Best AI Executive Assistant

    Stay ahead of the competition with Tailforce.ai - your AI-powered business intelligence partner.

    AI-Powered Inbox
    Context-aware email replies
    Strategic Decision Support
    Get Started with Tailforce.ai

    Recent Analyst Ratings for
    $MEC

    DatePrice TargetRatingAnalyst
    6/17/2025$23.00Buy
    DA Davidson
    11/7/2024$30.00 → $20.00Outperform → Market Perform
    Northland Capital
    6/9/2023$14.00Outperform → Neutral
    Robert W. Baird
    5/17/2023$20.00Outperform
    Northland Capital
    11/3/2022$7.00 → $15.00Neutral → Outperform
    Robert W. Baird
    1/21/2022$21.00 → $13.00Outperform → Neutral
    Robert W. Baird
    1/21/2022$21.00 → $13.00Outperform → Neutral
    Baird
    More analyst ratings

    $MEC
    Insider Purchases

    Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • President & CEO Reddy Jagadeesh A bought $5,225 worth of shares (380 units at $13.75) (SEC Form 4)

      4 - Mayville Engineering Company, Inc. (0001766368) (Issuer)

      3/13/25 4:41:05 PM ET
      $MEC
      Industrial Specialties
      Industrials
    • SVP, Corp. Development & GC Leuba Sean P bought $14,179 worth of shares (1,000 units at $14.18) (SEC Form 4)

      4 - Mayville Engineering Company, Inc. (0001766368) (Issuer)

      3/7/25 5:07:21 PM ET
      $MEC
      Industrial Specialties
      Industrials
    • Chief Financial Officer Butz Todd M bought $20,079 worth of shares (1,272 units at $15.79) (SEC Form 4)

      4 - Mayville Engineering Company, Inc. (0001766368) (Issuer)

      11/8/24 2:38:26 PM ET
      $MEC
      Industrial Specialties
      Industrials

    $MEC
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • Mayville Engineering Company Completes Acquisition of Accu‑Fab, LLC

      Mayville Engineering Company, Inc. (NYSE:MEC) (the "Company" or "MEC"), a leading value-added provider of design, prototyping, and manufacturing solutions serving diverse end-markets, today announced the completion of the previously announced acquisition of Accu-Fab, LLC ("Accu-Fab") from strategic holding company Tide Rock, effective July 1, 2025. Under the terms of the agreement, the Company paid total cash consideration of $140.5 million, subject to customary adjustments including a net working capital adjustment. The transaction was funded through availability on MEC's existing $350 million credit facility. Accu-Fab is a vertically integrated manufacturing partner providing technology

      7/1/25 4:15:00 PM ET
      $MEC
      Industrial Specialties
      Industrials
    • Mayville Engineering Company Named Number One Fabricator for Fifteenth Consecutive Year

      Mayville Engineering Company (NYSE:MEC) ("MEC" or the "Company"), a leading U.S.-based provider of design, prototyping, and manufacturing solutions across diverse end markets, has once again been named the nation's largest fabricator by The Fabricator Magazine, topping the FAB 40 list for the fifteenth consecutive year. "Recognized as the #1 domestic fabricator for the fifteenth year in a row is a testament to the passion, innovation, and excellent execution of our entire MEC team," said Jag Reddy, President & CEO. "This milestone reinforces the strength of our MBX (MEC Business Excellence) strategy, now in its third year, and our disciplined focus on driving commercial growth. Through co

      6/9/25 4:15:00 PM ET
      $MEC
      Industrial Specialties
      Industrials
    • Mayville Engineering Company Announces Definitive Agreement to Acquire Accu-Fab, LLC

      Acquisition to provide MEC with strategic diversification into high-growth end-markets, including critical power infrastructure, data center and renewable energy Combined platform adds strategically located facilities and enhances value-added capabilities Expected to be immediately accretive to Adjusted EBITDA, Adjusted EBITDA margin and Adjusted Earnings Per Share MEC to host Accu-Fab acquisition conference call and webcast today at 9:00 a.m. Eastern Time Mayville Engineering Company (NYSE:MEC) (the "Company" or "MEC"), a leading value-added provider of design, prototyping and manufacturing solutions serving diverse end-markets, today announced a definitive agreement to acquire Acc

      5/27/25 6:00:00 AM ET
      $MEC
      Industrial Specialties
      Industrials

    $MEC
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    See more
    • DA Davidson initiated coverage on Mayville Engineering Company with a new price target

      DA Davidson initiated coverage of Mayville Engineering Company with a rating of Buy and set a new price target of $23.00

      6/17/25 8:09:40 AM ET
      $MEC
      Industrial Specialties
      Industrials
    • Mayville Engineering Company downgraded by Northland Capital with a new price target

      Northland Capital downgraded Mayville Engineering Company from Outperform to Market Perform and set a new price target of $20.00 from $30.00 previously

      11/7/24 9:14:14 AM ET
      $MEC
      Industrial Specialties
      Industrials
    • Mayville Engineering Company downgraded by Robert W. Baird with a new price target

      Robert W. Baird downgraded Mayville Engineering Company from Outperform to Neutral and set a new price target of $14.00

      6/9/23 7:15:55 AM ET
      $MEC
      Industrial Specialties
      Industrials

    $MEC
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • SEC Form SC 13G/A filed by Mayville Engineering Company Inc. (Amendment)

      SC 13G/A - Mayville Engineering Company, Inc. (0001766368) (Subject)

      1/12/24 9:39:07 AM ET
      $MEC
      Industrial Specialties
      Industrials
    • SEC Form SC 13G/A filed by Mayville Engineering Company Inc. (Amendment)

      SC 13G/A - Mayville Engineering Company, Inc. (0001766368) (Subject)

      1/13/23 12:43:59 PM ET
      $MEC
      Industrial Specialties
      Industrials
    • SEC Form SC 13G/A filed by Mayville Engineering Company Inc. (Amendment)

      SC 13G/A - Mayville Engineering Company, Inc. (0001766368) (Subject)

      2/14/22 12:18:56 PM ET
      $MEC
      Industrial Specialties
      Industrials

    $MEC
    Financials

    Live finance-specific insights

    See more
    • Mayville Engineering Company Announces First Quarter 2025 Results Conference Call and Webcast Date

      Mayville Engineering Company (NYSE:MEC) (the "Company" or "MEC"), a leading value-added provider of design, prototyping and manufacturing solutions serving diverse end-markets, today announced that it will issue first quarter 2025 results after the market closes on Tuesday, May 6, 2025. A conference call will be held the following day, Wednesday, May 7, 2025, at 10:00 a.m. ET to review the Company's financial results, discuss recent events and conduct a question-and-answer session. A webcast of the conference call and accompanying presentation materials will be available in the Investor Relations section of the Company's corporate website at https://ir.mecinc.com. To listen to a live broad

      4/23/25 4:15:00 PM ET
      $MEC
      Industrial Specialties
      Industrials
    • Mayville Engineering Company Announces Fourth Quarter and Full Year 2024 Results Conference Call and Webcast Date

      Mayville Engineering Company (NYSE:MEC) (the "Company" or "MEC"), a leading value-added provider of design, prototyping and manufacturing solutions serving diverse end-markets, today announced that it will issue fourth quarter and full year 2024 results after the market closes on Tuesday, March 4, 2025. A conference call will be held the following day, Wednesday, March 5, 2025, at 10:00 a.m. ET to review the Company's financial results, discuss recent events and conduct a question-and-answer session. A webcast of the conference call and accompanying presentation materials will be available in the Investor Relations section of the Company's corporate website at https://ir.mecinc.com. To lis

      2/19/25 4:15:00 PM ET
      $MEC
      Industrial Specialties
      Industrials
    • Mayville Engineering Company Announces Third Quarter 2024 Results Conference Call and Webcast Date

      Mayville Engineering Company (NYSE:MEC) (the "Company" or "MEC"), a leading value-added provider of design, prototyping and manufacturing solutions serving diverse end-markets, today announced that it will issue third quarter 2024 results after the market closes on Tuesday, November 5, 2024. A conference call will be held the following day, Wednesday, November 6, 2024, at 10:00 a.m. ET to review the Company's financial results, discuss recent events and conduct a question-and-answer session. A webcast of the conference call and accompanying presentation materials will be available in the Investor Relations section of the Company's corporate website at https://ir.mecinc.com. To listen to a

      10/23/24 4:15:00 PM ET
      $MEC
      Industrial Specialties
      Industrials

    $MEC
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • SEC Form 4 filed by Director Kent Jennifer J.

      4 - Mayville Engineering Company, Inc. (0001766368) (Issuer)

      4/23/25 5:19:13 PM ET
      $MEC
      Industrial Specialties
      Industrials
    • SEC Form 4 filed by Director Rothman Jay O.

      4 - Mayville Engineering Company, Inc. (0001766368) (Issuer)

      4/23/25 5:15:49 PM ET
      $MEC
      Industrial Specialties
      Industrials
    • SEC Form 4 filed by Director Fisher Steven L

      4 - Mayville Engineering Company, Inc. (0001766368) (Issuer)

      4/23/25 5:12:59 PM ET
      $MEC
      Industrial Specialties
      Industrials

    $MEC
    SEC Filings

    See more
    • Mayville Engineering Company Inc. filed SEC Form 8-K: Completion of Acquisition or Disposition of Assets, Financial Statements and Exhibits

      8-K - Mayville Engineering Company, Inc. (0001766368) (Filer)

      7/1/25 4:30:11 PM ET
      $MEC
      Industrial Specialties
      Industrials
    • Mayville Engineering Company Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation, Financial Statements and Exhibits

      8-K - Mayville Engineering Company, Inc. (0001766368) (Filer)

      6/27/25 4:15:53 PM ET
      $MEC
      Industrial Specialties
      Industrials
    • SEC Form 11-K filed by Mayville Engineering Company Inc.

      11-K - Mayville Engineering Company, Inc. (0001766368) (Filer)

      6/20/25 3:45:31 PM ET
      $MEC
      Industrial Specialties
      Industrials

    $MEC
    Leadership Updates

    Live Leadership Updates

    See more
    • Mayville Engineering Company Announces Appointment of Craig Nichols as Senior Vice President, Operations and Supply Chain

      Mayville Engineering Company (NYSE:MEC) (the "Company" or "MEC"), a leading value-added provider of design, prototyping and manufacturing solutions serving diverse end-markets, today announced the appointment of Craig Nichols as Senior Vice President Operations and Supply Chain effective March 10, 2025, reporting directly to President and Chief Executive Officer, Jag Reddy. Mr. Nichols brings to MEC more than three decades of operations, supply chain management, and manufacturing expertise. Throughout his career, Mr. Nichols has successfully led the implementation of continuous improvement initiatives across multi-site global manufacturing organizations. "I am excited to welcome Craig to

      3/10/25 4:15:00 PM ET
      $MEC
      Industrial Specialties
      Industrials
    • Mayville Engineering Company, Inc. Announces Appointment of Rachele Lehr as Chief Human Resources Officer

      Mayville Engineering Company (NYSE:MEC, the "Company" or "MEC"))), a leading U.S.-based value-added manufacturing partner that provides a full suite of services from concept to production, today announced the appointment of Rachele Lehr as the Chief Human Resources Officer, effective March 13, 2023. Lehr will report directly to President and Chief Executive Officer, Jag Reddy, and will lead the Company's Human Resources strategy, including, talent acquisition, talent development, total rewards, change management, employee engagement, and improvement of the overall HR operating system. Lehr brings to MEC a decade of human resource leadership experience within the machinery and manufacturing

      3/13/23 9:30:00 AM ET
      $MEC
      Industrial Specialties
      Industrials
    • Mayville Engineering Company Announces Appointment of Sean Leuba as Senior Vice President, Corporate Development and General Counsel

      Mayville Engineering Company (NYSE:MEC) (the "Company" or "MEC"), a leading value-added provider of design, prototyping and manufacturing solutions serving diverse end-markets, today announced the appointment of Sean Leuba as Senior Vice President, Corporate Development and General Counsel effective January 25, 2023 reporting directly to President and Chief Executive Officer, Jag Reddy. Mr. Leuba brings to MEC more than two decades of public-company development, operations and legal expertise within the machinery and manufacturing industries. Throughout his career, Mr. Leuba has been integral in leading corporate development efforts, while utilizing his extensive legal experience. "We are

      1/26/23 9:01:00 AM ET
      $CAT
      $MEC
      Construction/Ag Equipment/Trucks
      Industrials
      Industrial Specialties