Cavco (CVCO) Form 4: Director disposition and 7,169 shares held via family trust

Rhea-AI Filing Summary

Kerley Richard A, a director of Cavco Industries, Inc. (CVCO), reported a sale of company common stock on 08/20/2025. The filing shows 500 shares were disposed of at a price of $480.55 per share, leaving the reporting person with 7,169 shares reported as beneficially owned indirectly through the Kerley Family Trust. The filing also discloses 290 shares underlying restricted stock units that are allocated but not yet vested or delivered. The Form 4 was signed by an attorney-in-fact on 08/22/2025.

Positive

• Disclosure compliance: The reporting person filed a Form 4 documenting the transaction and beneficial ownership details.
• Clarity on restricted awards: The filing explicitly notes 290 shares underlying restricted stock units that are allocated but not yet vested or delivered.

Negative

• Insider disposition: A director sold 500 shares at $480.55 per share on 08/20/2025.
• Majority indirect ownership: Reported beneficial ownership of 7,169 shares is held indirectly via the Kerley Family Trust, which may limit direct insider alignment visibility.

Insights

Corporate Governance Expert

TL;DR: Director Kerley reported a routine sale of 500 shares; holdings remain largely indirect through a family trust.

The transaction is documented and conforms to Section 16 reporting format. The sale of 500 shares at $480.55 is disclosed as an individual disposition with remaining beneficial ownership of 7,169 shares held indirectly by the Kerley Family Trust. Additionally, 290 restricted stock units are noted as allocated but unvested. There is no indication in the filing of any plan qualifying for Rule 10b5-1 affirmative defense or of any amendment to prior filings. From a governance perspective, the filing reflects standard insider activity and required disclosure.

Securities Analyst

TL;DR: Insiders sold a small block of shares; total reported beneficial ownership remains concentrated in a family trust.

The reported sale (500 shares at $480.55) is a single non-derivative disposition and reduces direct holdings while the Kerley Family Trust continues to hold 7,169 shares beneficially. The note about 290 RSUs clarifies additional unvested economic exposure. The filing provides clear transactional detail but contains no financial performance metrics or additional material events affecting company valuation.

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^*

KERLEY RICHARD A

(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)
08/20/2025

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	08/20/2025		S		500	D	$480.55	7,169	I	By Kerley Family Trust
Common Stock								290(1)	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. Includes 290 shares underlying Restricted Stock Units allocated but not yet vested or delivered.

Remarks:

	/s/ Seth G. Schuknecht, attorney-in fact	08/22/2025
	** 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 Richard Kerley report on Form 4?

The Form 4 reports a sale of 500 shares of Cavco Industries at $480.55 per share on 08/20/2025, with 7,169 shares beneficially owned indirectly.

How many Cavco (CVCO) shares does the reporting person still beneficially own?

After the transaction the filing shows 7,169 shares beneficially owned indirectly through the Kerley Family Trust.

Are there any unvested awards disclosed for Kerley (CVCO)?

Yes. The filing notes 290 shares underlying restricted stock units that are allocated but not yet vested or delivered.

When was the Form 4 signed for the CVCO transaction?

The Form 4 was signed by an attorney-in-fact on 08/22/2025.

Does the filing indicate a Rule 10b5-1 trading plan or amendment?

No. The filing does not indicate a transaction pursuant to a 10b5-1 plan nor show an amendment to a prior filing.