SEC Form 4 · accession 0000278166-18-000025
CAVCO INDUSTRIES, INC. · CVCO
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Daniel L Urness
Officer — Chief Financial Officer
Period of report
Jun 7, 2018
Accepted (ET)
Jun 7, 2018 · 8:35 pm EDT
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 | Jun 7, 2018 | M | 5,600 | $45.00 | A | 21,836 | D | |
| Common StockF1 | Jun 7, 2018 | F | 2,768 | $220.80 | D | 19,068 | 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 | Jun 7, 2018 | M | 5,600 | D | — | Jun 30, 2018 | Common Stock | 5,600 | 0 | D |
Explanation of responses
- F1Represents a "net exercise" of outstanding stock options. Mr. Urness received 2,832 shares of common stock on a net exercise of option to purchase 5,600 shares of common stock. Mr. Urness forfeited 2,768 shares of common stock underlying the option in payment of the exercise price and mandatory tax withholding requirements, using the closing stock price on June 6, 2018 of $220.80.
- F2Shares vested 25% on the first anniversary of the grant date and 25% on each anniversary thereafter until fully vested.