Item 5. Market for Registrant’s Common Equity
ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
The Company's common stock is traded on the Nasdaq Global Select Market ("Nasdaq") under the symbol CVCO.
As of May 13, 2026, the Company had 400 stockholders of record and approximately 52,530 beneficial holders of its common stock, based upon information in securities position listings by registered clearing agencies upon request of the Company's transfer agent.
In the past two fiscal years, we have not paid any dividends on the Company's common stock. The payment of dividends to Company stockholders is subject to the discretion of the Board, and various factors may prevent us from paying dividends. Such factors include Company cash requirements, covenants of our amended and restated credit agreement dated November 12, 2024, by and among the Company, Bank of America, N.A., as administrative agent, swing line lender and letter of credit issuer, and the guarantors party thereto (the "Credit Agreement"), and liquidity or other requirements of state, corporate and other laws.
Issuer Purchases of Equity Securities
The Board approved an additional $150 million for the stock repurchase program as announced on May 22, 2025, and another $150 million as announced on May 21, 2026. The repurchase program is funded using our available cash. The repurchases may be made in the open market or in privately negotiated transactions in compliance with applicable state and federal securities laws and other legal requirements. The level of repurchase activity is subject to market conditions, applicable legal requirements and other strategic capital needs and opportunities. The repurchase program does not obligate us to acquire any particular amount of common stock and may be suspended or discontinued at any time. Share repurchase activity during the three months ended March 28, 2026 was as follows:
Period Total Number of Shares Purchased Average Price Paid Per Share
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (1)
Approximate Dollar Value of Shares That May Yet Be Purchased Under the Programs
($000s)
December 28, 2025 to
January 31, 2026 32,800 $ 627.01 32,800 $ 77,313
February 1, 2026 to
February 28, 2026 18,125 520.38 18,125 67,881
March 1, 2026 to
March 28, 2026 — — — 67,881
50,925 50,925
(1) The stock repurchase plan announced on May 22, 2025 approved $150 million in stock repurchases and there is $68 million remaining as of March 28, 2026 from this approval. This plan does not have an expiration date.
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Performance Graph
The following graph compares the yearly percentage change in the cumulative total stockholder return on Cavco common stock during the five fiscal years ended March 28, 2026, with that of the Nasdaq Composite Index and the iShares U.S. Home Construction ETF. The comparison assumes $100 (with reinvestment of all dividends) was invested on April 3, 2021, in Cavco common stock and in each of the foregoing indices.
CAVCO INDUSTRIES, INC.
4/3/2021 4/2/2022 4/1/2023 3/30/2024 3/29/2025 3/28/2026
Cavco Industries, Inc. $ 100 $ 105 $ 137 $ 172 $ 221 $ 201
Nasdaq Composite Index $ 100 $ 106 $ 91 $ 121 $ 122 $ 155
iShares U.S. Home Construction ETF $ 100 $ 86 $ 101 $ 167 $ 136 $ 128
ITEM 6. [RESERVED]
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