[Form 4] Cavco Industries Inc. Insider Trading Activity

Rhea-AI Filing Summary

Susan L. Blount, a director of Cavco Industries (CVCO), reported multiple transactions on 08/14/2025 that changed her holdings. She acquired 2,000 shares of common stock at an average price of $141.16 and sold two blocks of 1,000 shares each at $485.00 and $481.42 respectively. After these transactions she beneficially owned 3,126 shares directly, which includes 290 shares underlying restricted stock units that are allocated but not yet vested or delivered. The filing also reports a non-employee director stock option covering 2,000 shares with a $141.16 exercise price that is exercisable and expires on 01/08/2026.

Positive

• Transparent disclosure of multiple insider transactions and option details for a director on 08/14/2025
• Acquisition of 2,000 common shares at an average price of $141.16 was reported
• Outstanding director option covering 2,000 shares with a $141.16 exercise price exercisable and expiring 01/08/2026 was disclosed
• Clear explanation that 290 shares are underlying RSUs allocated but not yet vested or delivered

Negative

• None.

Insights

Financial Analyst

TL;DR: Director executed option-related acquisition and concurrent high-price sales, modestly reducing direct holdings.

The report shows a mix of acquisition and disposals on the same date: a 2,000-share acquisition at a $141.16 average price and two 1,000-share dispositions at substantially higher prices ($485.00 and $481.42). Post-transaction direct beneficial ownership is 3,126 shares, including 290 unvested RSU shares. The presence of an outstanding director option for 2,000 shares exercisable through 01/08/2026 with a $141.16 exercise price is confirmed. Overall, these are routine Section 16 transactions that update insider holdings and option status; there is no new compensation plan or extraordinary event disclosed.

Corporate Governance Expert

TL;DR: Filing documents timely insider trades and option holdings; transactions appear compliant with disclosure rules.

The Form 4 documents multiple same-day transactions and provides the required explanatory details, including VWAP disclosure for the $481.42 sale tranche and note of 290 RSU shares allocated but unvested. The option terms are explicitly stated (exercise price $141.16, exercisable and expiring 01/08/2026). The signature by attorney-in-fact and the explanatory remarks meet standard procedural requirements. No governance irregularities, Section 16 exemptions, or plan-level changes are reported in this filing.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Blount Susan L

(Last) (First) (Middle)

C/O 3636 N. CENTRAL AVENUE

SUITE 1200

(Street)

PHOENIX AZ 85012

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CAVCO INDUSTRIES, INC. [ CVCO ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/14/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/14/2025		M		2,000	A	$141.16	5,126	D
Common Stock	08/14/2025		S		1,000	D	$485	4,126	D
Common Stock	08/14/2025		S		1,000	D	$481.42(1)	3,126(2)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Non-Employee Director Stock Option (Right to Buy)	$141.16	08/14/2025		M			2,000	(3)	01/08/2026	Common Stock	2,000	$0	2,500	D

Explanation of Responses:

1. This transaction was executed in multiple trades at prices ranging from $481.10 to $482.63. The price reported reflects the volume weighted average sales price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.

2. Includes 290 shares underlying Restricted Stock Units allocated but not yet vested or delivered.

3. These options became fully exercisable on January 8, 2023 and expire on January 8, 2026.

Remarks:

	/s/ Seth G. Schuknecht, attorney-in fact	08/18/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transactions did Susan L. Blount report on Form 4 for CVCO?

On 08/14/2025 she reported acquiring 2,000 common shares at $141.16 and selling two blocks of 1,000 shares at $485.00 and $481.42.

How many CVCO shares does Susan Blount beneficially own after these transactions?

Following the reported transactions she beneficially owned 3,126 shares directly, which includes 290 allocated but unvested RSU shares.

Does the Form 4 disclose any stock options for the reporting person?

Yes. A non-employee director stock option for 2,000 underlying shares with an exercise price of $141.16 is reported; it is exercisable and expires on 01/08/2026.

What does the explanatory note say about the $481.42 sale price?

The filing states that the $481.42 sale was executed in multiple trades at prices ranging from $481.10 to $482.63 and that the reported price is the volume-weighted average sales price.

Who signed the Form 4 and when was it filed?

The Form 4 is signed by Seth G. Schuknecht as attorney-in-fact for the reporting person and dated 08/18/2025.