CAVCO INDUSTRIES INC
For the period ended Mar 29, 2025. Filed Jun 16, 2025.
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Mar 29, 2025 · Filed Jun 16, 2025
Contents
SUMMARY COMPENSATION TABLE
The table below sets forth information concerning the compensation and benefits paid to the Company’s NEOs during fiscal years 2025, 2024, and 2023.
| Name and Principal Position | Year | Salary($) | StockAwards($) (1) | Non-EquityIncentive PlanCompensation($) (2) | All OtherCompensation($) (3) | Total($) |
|---|---|---|---|---|---|---|
| Bill Boor, CEO | 2025 | 1,057,692 | 4,549,586 | 2,027,910 | 4,770 | 7,639,958 |
| 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 | |
| Allison Aden, CFO | 2025 | 634,615 | 1,505,786 | 832,798 | 7,695 | 2,980,894 |
| 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 | |
| Brian Cira, President (Manufacturing) | 2025 | 250,000 | 350,182 | 985,533 | 7,695 | 1,593,410 |
| 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 | |
| Matt Niño, President (Retail) | 2025 | 200,000 | 299,955 | 884,617 | 7,695 | 1,392,267 |
| 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 | |
| Seth Schuknecht, General Counsel (4) | 2025 | 371,154 | 648,786 (5) | 411,519 | 6,939 | 1,438,398 |
(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, in accordance with the requirements of Accounting Standards Codification Subtopic 718. See Note 18 “Stock-Based Compensation” of our Consolidated Financial Statements included in our 2025 Annual Report for discussion and assumptions used for computing the fair value of awards granted. 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 FY2025, the grant date fair value of the PRSUs awarded during FY2025 (which does not include the value of FY2025 RSUs), assuming achievement of the maximum level of performance for Mr. Boor, Ms. Aden, Messrs. Cira, Niño, and Schuknecht are $5,442,704, $1,440,348, $420,219, $360,087, and $779,599, respectively.
(2)Amounts in this column represent the total 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 determination of Company performance for the applicable fiscal year. The components that make up each STIP payment are discussed above under "Components of Annual Executive Compensation—2. Short-Term Incentive Compensation".
(3)For the year ended March 29, 2025, the “All Other Compensation” column includes: (i) Mr. Boor, life insurance premium of $2,520 and 401(K) match of $2,250; (ii) Ms. Aden, life insurance premium of $2,520 and 401(K) match of $5,175; (iii) Mr. Cira, life insurance premium of $2,520 and 401(K) match of $5,175; (iv) Mr. Niño, life insurance premium of $2,520 and 401(K) match of $5,175; and (v) Mr. Schuknecht, life insurance premium of $1,764, and 401(K) match of $5,175.
(4)Mr. Schuknecht was not an NEO in fiscal years 2023 or 2024.
(5)Mr. Schuknecht's Stock Awards in FY2025 include awards of RSUs and PRSUs for pro-rated FY2024 LTIP compensation awarded after the beginning of FY2025 with a grant date fair value of $248,729 assuming performance is achieved at the target level, which is considered the probable outcome.
36 2025 Proxy Statement
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