CAVCO INDUSTRIES, INC. — Director's Dealing 2017

May 19, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CAVCO INDUSTRIES INC (CVCO)
CIK: 0000278166
Period of Report: 2017-05-17

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-05-17	Common Stock	M	46500	$36.02	Acquired	555189	Direct
2017-05-17	Common Stock	F	28552	$116.85	Disposed	526637	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-05-17	Non-Qualified Stock Option (Right to Buy)	$36.02	M	46500	Acquired	2017-05-21	Common Stock (46500.0)	Direct

Footnotes

F1: Represents a "net exercise" of outstanding stock options. Mr. Stegmayer received 17,948 shares of common stock on a net exercise of option to purchase 46,500 shares of common stock. Mr. Stegmayer forfeited 28,552 shares of common stock underlying the option in payment of the exercise price and tax withholding requirements, using the closing stock price on May 16, 2017 of $116.85

F2: This option vested 25% on each of the following dates: May 21, 2011; May 21, 2012; May 21, 2013; and May 21, 2014.