Cavco Form 4: Executive Withholds 16 CVCO Shares for Tax

Rhea-AI Filing Summary

Form 4 filed for Cavco Industries (CVCO) discloses a routine insider transaction by Jack S. Brandom, President – Financial Services, on 1 Aug 2025. The filing shows a Code F disposition (share surrender to cover taxes on vested RSUs) of 16 common shares at $422.81 per share. Following the withholding, Brandom beneficially owns 1,266 CVCO shares, of which 699 are unvested RSUs. No derivative securities were acquired or disposed of. The transaction marginally reduces the executive’s direct holdings (<1% change) and does not reflect an open-market sale or a shift in ownership intent.

Insights

Financial Analyst

TL;DR: Routine tax-withholding share surrender; negligible impact on CVCO insider ownership or market sentiment.

The Code F disposition indicates shares were withheld solely to satisfy tax obligations upon RSU vesting—common practice that neither signals bullish nor bearish insider sentiment. The reduction of 16 shares is immaterial relative to Brandom’s 1,266-share stake and Cavco’s 9 million-plus shares outstanding. No derivative activity or open-market sales occurred, so liquidity or governance implications are minimal. Overall, the filing is considered non-impactful for investors.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider BRANDOM JACK S

Role President, Financial Services

Type	Security	Shares	Price	Value
Tax Withholding	Common Stock	16	$422.81	$7K

Holdings After Transaction: Common Stock — 1,266 shares (Direct)

Footnotes (1)

1. Surrender of shares for payment of tax withholding on release of Restricted Stock Units. Includes 699 shares underlying 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^*

BRANDOM JACK S

(Last) (First) (Middle)

C/O 3636 N CENTRAL AVE

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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President, Financial Services

3. Date of Earliest Transaction (Month/Day/Year)
08/01/2025

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	08/01/2025		F		16	D(1)	$422.81	1,266(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. Surrender of shares for payment of tax withholding on release of Restricted Stock Units.

2. Includes 699 shares underlying Restricted Stock Units allocated but not yet vested or delivered.

Remarks:

	/s/ Seth G. Schuknecht, attorney-in fact	08/04/2025
	** 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 insider transaction was reported for CVCO on 1 Aug 2025?

Jack S. Brandom surrendered 16 CVCO common shares to cover taxes on vested RSUs (Code F).

Did the Cavco executive sell shares on the open market?

No. The shares were withheld by the company for tax purposes; no open-market sale occurred.

How many CVCO shares does Jack S. Brandom now own?

He owns 1,266 shares, including 699 unvested RSUs.

Are there any derivative securities involved in this Form 4 filing?

No derivative securities were acquired or disposed of in the reported transaction.

Is this Form 4 considered material to investors?

The transaction is routine and immaterial (<1% change in the executive’s holdings), so it is generally viewed as non-impactful.