Form 4: Cavco Industries Executive Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Jack S. Brandom, President of Financial Services at Cavco Industries, disposed of shares to cover tax withholding obligations related to the release of restricted stock units.
Summary
- Jack S. Brandom, the President of Financial Services at Cavco Industries, reported changes in beneficial ownership of the company's stock.
- On August 1, 2024, Brandom surrendered 16 shares of common stock at a price of $401.37 to cover tax withholding on the release of restricted stock units granted on August 1, 2022.
- On August 5, 2024, he surrendered 27 shares of common stock at a price of $382.97 to cover tax withholding on the release of restricted stock units granted on August 4, 2021.
- Following these transactions, Brandom directly owns 769 shares of Cavco Industries stock, which includes 640 shares underlying restricted stock units that are allocated but not yet vested or delivered.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing relates to routine tax obligations and doesn't indicate a significant change in the executive's overall holdings or confidence in the company.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors for signals about management's confidence in the company's prospects.
Key Dates
| Date | Description |
|---|---|
| 08/01/2022 | Date of restricted stock units grant related to the August 1, 2024 transaction. |
| 08/04/2021 | Date of restricted stock units grant related to the August 5, 2024 transaction. |
| 08/01/2024 | Date of first transaction: Surrender of 16 shares for tax withholding. |
| 08/05/2024 | Date of second transaction: Surrender of 27 shares for tax withholding. |
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