SEC Form 4 · accession 0000278166-15-000069
CAVCO INDUSTRIES, INC. · CVCO
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Charles E Lott
Officer — President, Fleetwood Homes
Period of report
Nov 2, 2015
Accepted (ET)
Nov 3, 2015 · 11:35 am EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000278166
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Nov 2, 2015 | M | 8,000 | $45.00 | A | 8,000 | D | |
| Common Stock | Nov 2, 2015 | M | 2,000 | $52.96 | A | 10,000 | D | |
| Common Stock | Nov 2, 2015 | F | 6,484 | $98.60 | D | 3,516 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Non-Qualified Stock Option (Right to Buy)F2 | $45.00 | Nov 2, 2015 | M | 8,000 | D | — | Jun 30, 2018 | Common Stock | 8,000 | 8,000 | D |
| Non-Qualified Stock Option (Right to Buy)F3 | $52.96 | Nov 2, 2015 | M | 2,000 | D | — | Jul 11, 2020 | Common Stock | 2,000 | 2,000 | D |
Explanation of responses
- F1Represents a "net exercise" of outstanding stock options. Mr. Lott received 3,516 shares of common stock on a net exercise of option to purchase 10,000 shares of common stock. Mr. Lott forfeited 6,484 shares of common stock underlying the option in payment of the exercise price and required tax withholding using the closing stock price on October 30, 2015 of $98.60.
- F2This option vested 25% on each of the following dates: June 30, 2012; June 30, 2013; June 30, 2014; and June 30, 2015.
- F3Mr. Lott exercised the portion of the option that vested 25% on July 11, 2014 and 25% on July 11, 2015. The 2,000 remaining shares will vest 25% on July 11, 2016 and 25% on July 11, 2017.