Cavco Industries DEF 14A: Executive Compensation Details

Ticker: CVCO · Form: DEF 14A · Filed: Jun 14, 2024 · CIK: 278166

Sentiment: neutral

Topics: executive-compensation, annual-meeting, corporate-governance

TL;DR

Cavco's DEF 14A is out, showing exec pay details for FY24. Check equity awards.

AI Summary

Cavco Industries Inc. filed its DEF 14A on June 14, 2024, detailing executive compensation for the fiscal year ending March 30, 2024. The filing includes information on equity awards granted to its principal executive officers and other employees, with specific data points for fiscal years 2023, 2022, 2021, and 2020.

Why It Matters

This filing provides transparency into how Cavco Industries compensates its top executives, which can influence investor decisions and corporate governance assessments.

Risk Assessment

Risk Level: low — This filing is a routine annual disclosure of executive compensation and does not present new material risks.

Key Numbers

Key Players & Entities

FAQ

What is the primary purpose of this DEF 14A filing?

The primary purpose is to provide shareholders with information regarding the company's annual meeting of stockholders, including details on executive compensation, director nominations, and other corporate governance matters.

What fiscal periods are covered by the compensation data in this filing?

The filing provides compensation data for the fiscal years ending March 30, 2024, April 2, 2023, April 3, 2022, April 4, 2021, and March 29, 2020.

What type of compensation information is detailed for the principal executive officers?

The filing details equity awards granted to principal executive officers, including those reported in the summary compensation table and adjustments excluding values reported in the summary compensation table.

When was this DEF 14A filing submitted to the SEC?

This DEF 14A filing was submitted to the SEC on June 14, 2024.

What is the Standard Industrial Classification (SIC) code for Cavco Industries Inc.?

The Standard Industrial Classification (SIC) code for Cavco Industries Inc. is 2451, which corresponds to Mobile Homes.

Filing Stats: 4,832 words · 19 min read · ~16 pages · Grade level 11.2 · Accepted 2024-06-13 17:33:09

Filing Documents

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 27 COMPENSATION DISCUSSION AND ANALYSIS 27 Overview of the Company's Compensation Program 27 Compensation Philosophy 27 Objectives of the Company's Fiscal Year 2024 Compensation Program 28 Role of Management in Establishing and Awarding Compensation 28 Independent Compensation Consultant 28 Clawback Policy 29 Shareholder Approval of our Compensation Decisions 29 Benchmarking Methodology 29 COMPONENTS OF EXECUTIVE COMPENSATION 30 Employment Agreements in Effect for 2024 33 Compensation Policies and Practices as They Relate to Risk Management 35 Compensation Committee Report 35 SUMMARY COMPENSATION TABLE 36 GRANTS OF PLAN-BASED AWARDS 37 OUTSTANDING EQUITY AWARDS AT FISCAL YEAR-END 38 OPTION EXERCISES AND STOCK VESTED 40 CEO PAY RATIO DISCLOSURE 41 PAY VERSUS PERFORMANCE 42 PROPOSAL NO. 2: ADVISORY VOTE ON THE COMPENSATION OF THE NAMED EXECUTIVE OFFICERS 46 AUDIT FEES 47 Report of the Audit Committee 48 PROPOSAL 3 : RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 49 GENERAL INFORMATION 50 Cavco Industries, Inc. www.cavco.com i Cavco Industries, Inc. 2024 Proxy Statement CAVCO INDUSTRIES, INC. PROXY STATEMENT 2024 Annual Meeting of Stockholders to be held July 30, 2024 Proxy Summary The 2024 Annual Meeting of Stockholders (the "Annual Meeting") of Cavco Industries, Inc., a Delaware corporation ("we," "our," "us," "Cavco," or the "Company") will be held in person on Tuesday, July 30, 2024, at 9:00 a.m. local time at our corporate headquarters located at 3636 North Central Avenue, Suite 1200, Phoenix, Arizona 85012 (the "Annual Meeting"). The accompanying notice and proxy card, mailed together with this definitive proxy statement (the "Proxy Statement" and collectively, the "Proxy"), is solicited by and on behalf of the Board of Directors (each a "Director" and collectively, the "Board") of Cavco for use by our stockholders at the Annu

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