CAVCO INDUSTRIES, INC. — Director's Dealing 2007

May 15, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CAVCO INDUSTRIES INC (CVCO)
CIK: 0000278166
Period of Report: 2007-05-14

Reporting Person: HANNA JACK (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-05-14	Common Stock	M	3000	$11.55	Acquired	3000	Direct
2007-05-14	Common Stock	M	3000	$11.55	Acquired	6000	Direct
2007-05-14	Common Stock	M	3000	$11.55	Acquired	9000	Direct
2007-05-14	Common Stock	M	4500	$11.55	Acquired	13500	Direct
2007-05-14	Common Stock	S	3000	$32.2867	Disposed	10500	Direct
2007-05-14	Common Stock	S	3000	$32.2804	Disposed	7500	Direct
2007-05-14	Common Stock	S	3000	$36.32	Disposed	4500	Direct
2007-05-14	Common Stock	S	4500	$36.2585	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-05-14	Non-Employee Director Stock Option (Right to Buy)	$36.2867	M	3000	Disposed	2010-12-12	Common Stock (3000)	Direct
2007-05-14	Non-Employee Director Stock Option (Right to Buy)	$36.2804	M	3000	Disposed	2010-12-12	Common Stock (3000)	Direct
2007-05-14	Non-Employee Director Stock Option (Right to Buy)	$36.32	M	3000	Disposed	2010-12-12	Common Stock (3000)	Direct
2007-05-14	Non-Employee Director Stock Option (Right to Buy)	$36.2585	M	4500	Disposed	2010-12-12	Common Stock (4500)	Direct

Footnotes

F1: The option vested in four equal installments on December 12, 2003; December 12, 2004; December 12; 2005; and December 12, 2006.