Cavco Industries Insider Award: 290 RSUs Granted to Director Moster

Rhea-AI Filing Summary

Cavco Industries (CVCO) Form 4: Director Steven W. Moster received an award of 290 Restricted Stock Units (RSUs) on 28-Jul-2025 (transaction code “A”). The RSUs convert 1-for-1 into common shares on the earliest of the 12-month anniversary of the grant or the next annual shareholder meeting. The filing lists a grant price reference of $414.52 per share.

Post-grant, Moster’s total direct beneficial ownership rises to 2,676 CVCO shares, which includes the 290 unvested RSUs. No derivative transactions or dispositions were reported.

The transaction is not an open-market purchase; it represents routine director compensation. Given the small size (≈0.03 % of CVCO’s 8.9 m shares outstanding) and the automatic vesting schedule, the market impact is expected to be minimal, though incremental insider alignment is modestly positive.

Positive

• Increased insider alignment: director ownership rises to 2,676 shares, adding a modestly positive governance signal.

Negative

• Non-cash compensation dilution: issuance of new shares from incentive pool, though fractional (<0.01 %)

Insights

Equity Analyst

TL;DR – Routine RSU grant; negligible dilution; modest alignment.

The 290-share RSU award to director Steven Moster is part of standard board compensation. At the referenced $414.52 price, the grant value is roughly $120k—insignificant versus CVCO’s $4 bn market cap. Because shares originate from the company’s equity incentive pool, dilution is immaterial (<0.01 %). While insider ownership ticks up, the lack of open-market buying limits any bullish signaling effect. Overall impact is neutral.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider MOSTER STEVEN W

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	290	$414.52	$120K

Holdings After Transaction: Common Stock — 2,676 shares (Direct)

Footnotes (1)

1. This is an award of Restricted Stock Units which will pay out into shares of Common Stock of the Company upon: (a) the 12 month anniversary of the Grant Date, or (b) the Company's next annual meeting of stockholders following the Grant Date, whichever occurs first. Includes 290 shares of Restricted Stock Units allocated but not yet vested or delivered.

Form 4 Insider Transactions: What Each Field Means →

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^*

MOSTER STEVEN W

(Last) (First) (Middle)

C/O 3636 N. CENTRAL AVE., STE. 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)
07/28/2025

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	07/28/2025		A		290(1)	A	$414.52	2,676(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

Explanation of Responses:

1. This is an award of Restricted Stock Units which will pay out into shares of Common Stock of the Company upon: (a) the 12 month anniversary of the Grant Date, or (b) the Company's next annual meeting of stockholders following the Grant Date, whichever occurs first.

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

Remarks:

	/s/ Seth G. Schuknecht, attorney-in fact	07/30/2025
	** 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 did CVCO director Steven W. Moster report on Form 4?

He received an award of 290 Restricted Stock Units on 28-Jul-2025, increasing his direct holdings to 2,676 shares.

Is the transaction an open-market purchase?

No. It is a stock award (code “A”) granted as part of director compensation, not a market buy.

When will the RSUs convert into CVCO common shares?

They pay out on the 12-month anniversary of the grant or at the next annual meeting, whichever comes first.

What is the estimated value of the RSU grant?

At the stated reference price of $414.52, the 290 RSUs are worth about $120,200.

Does this filing materially dilute existing shareholders?

Dilution impact is immaterial (<0.01 %) given CVCO’s ~8.9 million shares outstanding.

How much CVCO stock does Moster now own?

After the grant, he beneficially owns 2,676 shares, including unvested RSUs.