Company: CVCO
Filing Date: 2025-06-16
Form Type: DEF 14A
Source: 0000278166-25-000097
Chunk: 51

Company: CAVCO INDUSTRIES, INC.
Filing Date: 2025-06-16
Form: DEF 14A
Chunk 51
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 vesting date.

Potential Payments upon Termination or Change-in-Control

The following table describes and quantifies the potential payments that we would provide to our NEOs in connection with termination of employment, including for good reason, cause, or change in control. The amounts that would actually be paid to an NEO upon a termination of employment would depend on the circumstances and timing of termination.

The terms “Good Reason”, “Cause”, and “Change in Control” are defined in the executives’ various employment agreements, which are more fully described above under "Employment and Severance Agreements". All severance payments under the employment agreements are conditioned upon the delivery and non-revocation of a customary release by the executive in favor of the Company. Each of the employment agreements include customary provisions concerning the timing, limitation, and alteration of payments to comply with Section 409A of the Internal Revenue Code (the “Code”). For payments due to a termination upon a Change in Control, the terms of our NEO’s agreements make payment due only upon a double trigger of both a Change in Control and termination without cause.

Consistent with the SEC’s rules and regulations concerning executive compensation disclosure, the potential value of benefits payable assumes that the termination occurred on the last business day of FY2025, which was March 28, 2025. For each equity award affected, the value of the acceleration of stock vestings was computed based on a closing price of $513.96 per share on March 28, 2025. Total termination benefits represent payments for severance, non-compete, and non-disclosure covenants.

| NEO                              |     | Voluntary       
 Termination     
 by Executive    
 Without         
 Good Reason ($) |     |       Voluntary 
     Termination 
    by Executive 
            With 
 Good Reason ($) |     | Termination 
  by Company 
     Without 
   Cause ($) |     | Termination 
 by Company  
 With        
 Cause ($)   |     | Termination Due to 
              Death 
                 or 
     Disability ($) |     | Termination Upon 
           Change 
               in 
      Control ($) |
| Bill Boor, CEO                   |     | —               |     |      13,049,873 |     |  13,049,873 |     | —           |     |          8,732,866 |     |       22,984,575 |
| Allison Aden, CFO                |     | —               |     |               — |     |   1,