Cavco CAO receives stock awards, covers taxes with shares

Cavco Industries Chief Accounting Officer Paul Bigbee reported routine equity compensation activity involving the company’s common stock.

Rhea-AI Filing Summary

Cavco Industries Chief Accounting Officer Paul Bigbee reported routine equity compensation activity involving the company’s common stock. On May 18, 2026, he received two stock awards and had shares withheld to cover taxes, with no open-market buying or selling.

Bigbee acquired 185 shares through a new award of Restricted Stock Units that will pay out in stages over three years. He also acquired 783 shares upon the release of FY2024 performance-based restricted stock at a reference price of $458.11 per share. To satisfy tax withholding on the restricted stock unit release, 336 shares were surrendered back to the company at the same reference price. After these transactions, Bigbee directly owned 1,697 shares of Cavco Industries common stock, indicating a net increase in his equity stake from compensation-related awards.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider BIGBEE PAUL

Role Chief Accounting Officer

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	185	$0.00	$0.00
Grant/Award	Common Stock	783	$458.11	$359K
Exercise Price or Tax Liability	Common Stock	336	$458.11	$154K

Holdings After Transaction: Common Stock — 1,361 shares (Direct)

Footnotes (3)

1. F1. 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.
2. F2. Release of FY2024 Performance-based Restricted Stock.
3. F3. Surrender of shares for payment of tax withholding on release of Restricted Stock Units.

Key Figures

Tax-withholding shares: 336 shares Performance stock released: 783 shares New RSU award: 185 shares +2 more

5 metrics

Tax-withholding shares 336 shares Shares surrendered for tax withholding at $458.11 on May 18, 2026

Performance stock released 783 shares FY2024 performance-based restricted stock at $458.11 per share

New RSU award 185 shares Restricted Stock Units vesting over three years from grant date

Post-transaction holdings 1,697 shares Common stock directly owned by Paul Bigbee after transactions

Reference share price $458.11 per share Price used for performance stock release and tax-withholding surrender

Key Terms

Restricted Stock Units, Performance-based Restricted Stock, tax withholding

3 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.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/20/2026 - 08:46 PM EDT Learn about SEC filing dates

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^*

BIGBEE PAUL

(Last) (First) (Middle)

C/O 3636 N. CENTRAL AVENUE

SUITE 1200

(Street)

PHOENIX ARIZONA 85012

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/18/2026

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

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

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

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	05/18/2026		A		185(1)	A	$0	914	D
Common Stock	05/18/2026		A		783(2)	A	$458.11	1,697	D
Common Stock	05/18/2026		F		336(3)	D	$458.11	1,361	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 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.

2. Release of FY2024 Performance-based Restricted Stock.

3. Surrender of shares for payment of tax withholding on release of Restricted Stock Units.

Remarks:

	/s/ Seth G. Schuknecht, attorney-in fact	05/20/2026
	** 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.
* Form 4: SEC 1474 (03-26)