Boor William C 4

What Happened
William C. Boor, President & CEO and a director of Cavco Industries (CVCO), exercised 13,100 stock options on May 28, 2026. The exercise resulted in the issuance of shares valued at $2,074,516 (13,100 × $158.36). To cover the exercise price and tax withholding, Mr. Boor surrendered 6,809 shares valued at $546.24 each (total value $3,719,348). After the net exercise, he received 6,291 shares. This was a net (cashless) exercise with the issuer — no open-market sale occurred.

Key Details

• Transaction date: May 28, 2026. Filing date: June 1, 2026 (filed on the second business day after the transaction).
• Options exercised: 13,100 shares at an exercise price basis reported as $158.36 (aggregate $2,074,516).
• Shares surrendered for payment/taxes: 6,809 shares at $546.24 (aggregate $3,719,348) per footnote — these were withheld by the issuer, not sold on the open market.
• Net shares received: 6,291 common shares.
• Shares owned after transaction: not specified in the provided excerpt.
• Footnotes: (F1) confirms this was a net exercise with no market transaction and details the 6,291 shares received and 6,809 surrendered; (F2) notes the options vested in equal amounts in 2020–2022 and were due to expire June 21, 2026.

Context
This was a cashless/net option exercise (insider used shares to cover exercise price and tax withholding), which is a common administrative transaction and not an open-market sale or purchase. Options had vested previously (2020–2022) and were near their June 2026 expiry. Such exercises are routine and do not by themselves imply a change in the CEO’s market view.