Cavco (NASDAQ: CVCO) EVP granted stock, surrenders shares for tax withholding
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
CAVCO INDUSTRIES, INC. executive Seth G. Schuknecht, EVP and General Counsel, reported routine equity compensation and related tax withholding. He received 814 shares of Common Stock tied to FY2024 performance-based restricted stock and an additional award of 461 Restricted Stock Units that will pay out 33%, 33% and 34% over three years from the grant date. To cover tax withholding on the release of restricted stock, 341 shares were surrendered back to the company at a reference price of $458.11 per share. After these transactions, he directly holds 2,323 shares of Cavco common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
SCHUKNECHT SETH G
Role
EVP, General Counsel
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 461 | $0.00 | -- |
| Grant/Award | Common Stock | 814 | $458.11 | $373K |
| Tax Withholding | Common Stock | 341 | $458.11 | $156K |
Holdings After Transaction:
Common Stock — 1,509 shares (Direct, null)
Footnotes (1)
- This is an award of Restricted Stock Units which will pay out into shares of Common Stock of the Company as follows: 33% on the first anniversary of the grant date, 33% on the second anniversary of the grant date and 34% on the third anniversary of the grant date. Release of FY2024 Performance-based Restricted Stock. Surrender of shares for payment of tax withholding on release of Restricted Stock Units.
Key Figures
Shares surrendered for tax withholding: 341 shares
Performance-based restricted stock released: 814 shares
New RSU award: 461 Restricted Stock Units
+2 more
5 metrics
Shares surrendered for tax withholding
341 shares
Common Stock surrendered at $458.11 per share to cover tax withholding
Performance-based restricted stock released
814 shares
FY2024 Performance-based Restricted Stock released at $458.11 reference price
New RSU award
461 Restricted Stock Units
Award pays out 33%, 33%, 34% over three anniversaries of grant date
Reference price per share
$458.11 per share
Applied to 341 surrendered shares and 814 performance-based shares
Shares held after transactions
2,323 shares
Total Cavco common stock directly owned by Seth Schuknecht after Form 4 events
Key Terms
Restricted Stock Units, Performance-based Restricted Stock, tax withholding, grant date
4 terms
Restricted Stock Units financial
"This is an award of Restricted Stock Units which will pay out into shares of Common Stock"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Performance-based Restricted Stock financial
"Release of FY2024 Performance-based Restricted Stock."
Shares granted to employees or executives that are held back and only become actual, tradable stock if the company meets predefined performance targets; until those goals are met the shares cannot be sold. Think of it like a bonus held in escrow that’s released only when specific results are achieved — investors watch these awards because they tie management pay to company outcomes, can dilute existing shareholders when released, and signal how confident or incentivized insiders are to meet growth or profitability goals.
tax withholding financial
"Surrender of shares for payment of tax withholding on release of Restricted Stock Units."
Tax withholding is the practice of taking a portion of a payment—such as wages, dividends, or sale proceeds—before it reaches the recipient and sending that portion to the tax authority as an advance on the recipient’s eventual tax bill. For investors it matters because withholding reduces immediate cash received and affects after‑tax returns, estimated tax payments, and whether you may owe more or receive a refund when taxes are finally calculated, like having a small automatic savings set aside for your tax bill.
grant date financial
"33% on the first anniversary of the grant date, 33% on the second anniversary"
The grant date is the day a company formally gives an employee or contractor the right to receive stock-based compensation, such as stock options or restricted shares. It matters to investors because it fixes key terms—like the price, the start of the ownership clock, and when the award will affect the company’s financial statements and share count—so it can influence dilution, reported expenses, and potential future selling pressure.
FAQ
What did Cavco (CVCO) executive Seth Schuknecht report in this Form 4?
Seth Schuknecht reported equity awards and tax withholding. He received 814 Cavco common shares from FY2024 performance-based restricted stock and 461 Restricted Stock Units, while surrendering 341 shares to cover tax withholding obligations on restricted stock release.
What are the vesting terms of Seth Schuknecht’s new Cavco (CVCO) RSU award?
The Restricted Stock Units vest over three years. The award pays out into Cavco common shares as follows: 33% on the first anniversary of the grant date, 33% on the second anniversary, and 34% on the third anniversary of the grant date.