Our Shareholders

Our shareholders and potential investors are stakeholders because their belief in the Company and investment in us drives long-term value. We prioritize corporate governance best practices, diligent compliance management, and risk management analysis and planning which gives them confidence that their investment in us is a good one.

Governance

Cavco’s Board and senior management team believe that a strong focus on governance is foundational to long-term success. We emphasize a culture of accountability and are committed to conducting business in a manner that is fair, ethical and responsible. We have established and maintain corporate-administered compliance and risk management programs and we regularly provide reports and updates to the Board across the range of governance, compliance and risk activities.

Our Board is composed of seven independent Directors and one management Director. Committees of fully independent Directors oversee our audit, compensation, nominating and corporate governance, and legal and compliance functions. We have fostered a culture of governance by adding five new directors with new and relevant skillsets to our Board over the last six years. Our Directors' various specialties and skills are disclosed in our annual Proxy Statement under our Corporate Governance Overview. We have established and continually reviewed board practices and procedures to enable communications and controls. We have separated the role of CEO and Chairman of the Board in order to enhance the independence of our Board. We have a diverse Board that includes three women, one of which is from an underrepresented group. The Board, our management team, and all of our employees are subject to a formal Code of Conduct and business ethics. Our Board is also governed by Corporate Governance Guidelines which, along with the charters of each Board committee and various governance policies, are reviewed consistently by our Board.

As a public company traded on Nasdaq we are subject to rigorous controls, quarterly financial reviews, and annual audits. The Board oversees our audit, compliance, and enterprise risk management practices. Further, our Board as well as our compliance and risk management teams engage regularly with subject matter experts to identify, monitor, and mitigate risks associated with our business.

We protect the voting rights of all of our shareholders by having one class of stock that entitles each shareholder to one vote per share of common stock owned. Our Directors and employees are subject to an insider trading policy and a clawback policy to respectively ensure compliance with federal and state securities laws and deter financial misconduct. Our Directors and senior management team are also subject to Stock Ownership Guidelines which align their interests with the long-term performance of the Company and the interests of our shareholders.