I would look at how long and wide you need the boards. Plywood will last you and won't cup if it gets weathered. Lots of boats have been made with exterior grade plywood to save costs. The marine grade costs more because all of the voids in the interior plies have been filled. This gives eliminates weak spots. They used to be filled with wood (a "football" was cut out around the hole and another football shaped piece glued in, pretty labor intensive) but the last time I bought some it had what looked like Bondo in some of my saw cuts. The wood is also as clear as possible for each ply, while this may not be the case with exterior.
Having said this, I would still go with exterior plywood for the seats. Just make sure to finish them with a waterproof finish. Fiberglassing them would be the ultimate, and complete the job with a UV resistant poly-type varnish. They will last longer than the rest of the boat that way!
-WH-