secwatch.observer — SEC 8-K summary
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Issuer:     CAVCO INDUSTRIES, INC. (CVCO)
CIK:        0000278166
Form:       8-K
Filed at:   2021-07-02T23:59:59+00:00
Accession:  0000278166-21-000034
Event type: other_material
Sentiment:  neutral
Materiality: 0.35
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Cavco approves FY2022 executive comp: salary bumps, STIP/LTIP for CEO and officers
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- CEO Boor base salary raised $25K to $850K; CAO Bigbee raised $20K to $220K.
- Short-term incentive (STIP) target for Boor set at 120% of base salary; threshold 60%, max 240%.
- Long-term equity: Boor receives 4,500 time-based RSUs and 4,550 PRSUs (target), each grant value ~$957,668.
- PRSUs vest based on relative TSR, market share expansion, and manufacturing labor efficiency over FY2022-2024.
- STIP for other officers (Dragash, Niño, Bigbee) mixes corporate and individual performance measures.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/278166/000027816621000034/0000278166-21-000034-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/278166/000027816621000034/cvco-20210628.htm
  HTML page:      https://secwatch.observer/filing/0000278166-21-000034

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer