CAVCO INDUSTRIES INC
For the period ended Mar 30, 2024. Filed Jun 14, 2024.
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What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
Mar 30, 2024 · Filed Jun 14, 2024
Contents
Overview of the Company’s Compensation Program
The Company’s FY2024 executive compensation program consisted of three components: (1) cash compensation comprised of an annual base salary, (2) short-term incentive compensation comprised of a cash bonus and/or cash incentive compensation, and (3) long-term incentive compensation, which consisted of awards of RSUs and performance-based restricted stock units that vest upon the achievement of preapproved Company performance measures over a set period of time (“PRSUs”).
| Component | Key Elements |
|---|---|
| Base Salaries | Market based to attract and retain an effective executive team |
| Short-Term IncentiveCompensation | •Company performance-based short-term incentive program•For several positions, a portion of the award potential is determined by individual performance targets•Bonus payouts capped at 200% of target |
| Long-Term Incentive Compensation | •Equity issued as RSUs and PRSUs pursuant to the Company’s 2005 Stock Incentive Plan (the “2005 Stock Plan”)•RSU grants based on a targeted dollar value on grant date and vest annually over 3 years•PRSU grants are earned based upon Company performance of 3-year targets; settlements are capped at 200% of target award |
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