CAVCO INDUSTRIES INC
For the period ended Mar 30, 2024. Filed Jun 14, 2024.
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Mar 30, 2024 · Filed Jun 14, 2024
Contents
SUMMARY COMPENSATION TABLE
The table below sets forth information concerning the compensation and benefits paid to the Company’s NEOs during fiscal years 2024, 2023, and 2022.
| Name and Principal Position | Year | Salary($) | StockAwards($) (1) | Non-EquityIncentive PlanCompensation($) (2) | All OtherCompensation($) (3) | Total($) |
|---|---|---|---|---|---|---|
| Bill Boor, CEO | 2024 | 950,000 | 2,802,500 | 753,730 | 4,578 | 4,510,808 |
| 2023 | 950,000 | 2,300,175 | 2,157,238 | 2,802 | 5,410,215 | |
| 2022 | 850,000 | 1,915,335 | 1,950,529 | 1,852 | 4,717,716 | |
| Allison Aden, CFO | 2024 | 550,000 | 1,050,067 | 397,525 | 7,278 | 2,004,870 |
| 2023 | 450,000 | 801,703 | 609,233 | 5,427 | 1,866,363 | |
| 2022 | 259,615 | 478,345 | 364,477 | 61,139 | 1,163,576 | |
| Brian Cira, President (Manufacturing) | 2024 | 250,000 | 350,165 | 821,951 | 7,278 | 1,429,394 |
| 2023 | 250,000 | 352,582 | 1,482,481 | 5,427 | 2,090,490 | |
| 2022 | 200,000 | 167,952 | 1,113,990 | 1,852 | 1,483,794 | |
| Matt Niño, President (Retail) | 2024 | 200,000 | 250,160 | 1,046,718 | 7,278 | 1,504,156 |
| 2023 | 200,000 | 251,844 | 1,234,760 | 5,427 | 1,692,031 | |
| 2022 | 200,000 | 104,970 | 1,213,929 | 1,852 | 1,520,751 | |
| Steve Like, President (Insurance) (4) | 2024 | 250,000 | 300,015 | 256,117 | 6,463 | 812,595 |
| Mickey Dragash, Former GC (5) | 2024 | 288,750 | 354,000 | — | 689,124 | 1,331,874 |
| 2023 | 325,000 | 352,582 | 317,051 | 5,427 | 1,000,060 | |
| 2022 | 325,000 | 251,928 | 366,509 | 1,852 | 945,289 |
(1)Amounts in this column represent the aggregate grant date fair value of RSU and PRSU awards made in each fiscal year, based on the closing price of the Company’s common stock on the grant date of each award. For each NEO, the amounts in this column attributed to PRSUs represent the grant date fair value of the PRSUs assuming performance is achieved at the target level, which is considered the probable outcome. For FY2024, the grant date fair value of the FY2024 PRSUs (not including the value of FY2024 RSUs), assuming achievement of the maximum level of performance for Mr. Boor, Ms. Aden, Messrs. Cira, Niño, Like, and Dragash are $3,360,000, $1,200,000, $420,000, $300,000, $360,000, and $420,000, respectively.
(2)Amounts in this column represent the amounts paid to each NEO for performance in each respective fiscal year under the STIP. Each payment was approved by the Board in May following the end of each respective fiscal year after consideration of Company performance for the applicable fiscal year.
(3)For the year ended March 30, 2024, the “All Other Compensation” column includes: (i) Mr. Boor, life insurance premium of $2,328 and 401(K) match of $2,250; (ii) Ms. Aden, life insurance premium of $2,328 and 401(K) match of $4,950; (iii) Mr. Cira, life insurance premium of $2,328 and 401(K) match of $4,950; (iv) Mr. Niño, life insurance premium of $2,328 and 401(K) match of $4,950; (v) Mr. Like, life insurance premium of $1,513 and 401(K) match of $4,950; and (vi) Mr. Dragash, life insurance premium of $2,328, 401(K) match of $4,950, and payment of $681,846 pursuant to the Release of Claims Agreement, dated March 5, 2024, by and between the Company and Mr. Dragash.
(4)Mr. Like was not an NEO in fiscal years 2022 or 2023.
(5)Mr. Dragash served as GC until February 2024. He did not participate in the STIP for FY2024 due to the execution of his Release of Claims Agreement, dated March 5, 2024.
36 2024 Proxy Statement
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