CAVCO INDUSTRIES, INC. — Director's Dealing 2012

May 21, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CAVCO INDUSTRIES INC (CVCO)
CIK: 0000278166
Period of Report: 2012-05-17

Reporting Person: STEGMAYER JOSEPH H (Director, Chairman, CEO & President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-05-17	Common Stock	M	65500	$27.55	Acquired	542428	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-05-17	Non-Qualified Stock Option (Right to buy)	$27.55	A	65500	Disposed	2012-05-17	Common Stock (65500)	Direct
2012-05-17	Non-Qualified Stock Option (Right to buy)	$27.55	M	65500	Disposed	2012-05-17	Common Stock (65500)	Direct

Footnotes

F1: The option vested in four equal installments on May 17, 2005; May 17, 2006; May 17, 2007; and May 17, 2008.