Boor William C 4

What Happened
William C. Boor, President & CEO and a director of Cavco Industries (CVCO), exercised options on April 10, 2026 covering 10,200 shares (Form 4 code M). The options were exercised at $125.69 per share (aggregate $1,282,038). To cover the option exercise price and tax withholding, 4,987 shares were surrendered (code F) based on the April 9, 2026 closing price of $519.67 (4,987 × $519.67 ≈ $2,591,594). The net result was issuance/delivery of 5,213 shares to Mr. Boor (10,200 exercised − 4,987 withheld).

Key Details

• Transaction date: April 10, 2026. Form 4 filed April 14, 2026 (timely filing).
• Option exercise: 10,200 shares at $125.69/share (total ~$1.282M).
• Withholding/surrender: 4,987 shares surrendered at $519.67/share (value ≈ $2.592M) to cover exercise price and taxes.
• Net shares delivered to insider: 5,213 shares.
• Footnotes: Includes 8,292 shares underlying restricted stock units that are allocated but not yet vested (F2). The exercised options vested in equal amounts on 4/15/2020, 4/15/2021 and 4/15/2022 and were due to expire 4/15/2026 (F3). The net exercise was with the issuer (no open-market sale) (F1).
• Transaction codes: M = option exercise; F = shares surrendered for tax/price withholding.

Context
This was a net (cashless-style) option exercise with the company — not an open-market sale. Mr. Boor’s transaction reflects exercising vested options near their expiration and using share withholding to satisfy exercise costs and tax withholding. Such routine exercises do not by themselves indicate a bullish or bearish view of the stock; they commonly occur when options vest or approach expiration.