Cavco Industries, Inc 8-K, filed May 3, 2021
Cavco Industries, Inc. (CVCO)
8-K
2021-05-03
For: 2021-04-27
View Original
Added on
April 11, 2026
About this 8-K
Cavco Industries, Inc filed this 8-K on May 3, 2021, reporting on events of April 27, 2021.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 27, 2021
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||||||||||||||
| (Address of principal executive offices, including zip code) | ||||||||||||||
Registrant's telephone number, including area code: (602 ) 256-6263
Not applicable
(Former name or former address, if changed from last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
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| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
| (Nasdaq Global Select Market) | ||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Retirement of Charles E. Lott
On April 27, 2021, Mr. Lott informed Cavco Industries, Inc., a Delaware corporation (the "Company"), that he will retire from his current role as President of the Company's subsidiary, Fleetwood Homes, Inc., effective as of July 9, 2021 (the "Retirement Date").
Promotion of Brian R. Cira
On April 27, 2021, the Company's Board of Directors (the "Board") appointed Mr. Cira, age 59, as President, Manufactured Housing effective as of July 10, 2021. In this role, he will lead the strategic development of the Company's manufactured housing operations.
Since September 2019, Mr. Cira has served as a Regional Vice President for the Company. Previously, Mr. Cira served as President of Fairmont Homes, Inc. ("FH") until the Company acquired the assets of FH in 2015.
There are no arrangements or understandings between Mr. Cira and any other person. The Company is not aware of any transaction requiring disclosure under Item 404(a) of Regulation S-K promulgated by the Securities and Exchange Commission.
A press release announcing Mr. Lott's retirement and Mr. Cira's promotion is attached hereto as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits
Exhibit Number | Description | ||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | ||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| CAVCO INDUSTRIES, INC. | ||||||||
| By: | /s/ Mickey R. Dragash | |||||||
| Mickey R. Dragash Executive Vice President, General Counsel, Corporate Secretary & Chief Compliance Officer | ||||||||
Date: May 3, 2021
 | For additional information, contact: | ||||
Mark Fusler Director of Financial Reporting and Investor Relations investor_relations@cavco.com | |||||
| News Release | Phone: 602-256-6263 On the Internet: www.cavco.com | ||||
FOR IMMEDIATE RELEASE
CAVCO INDUSTRIES, INC. ANNOUNCES CHARLEY LOTT TO RETIRE AS PRESIDENT OF FLEETWOOD HOMES, INC.; BRIAN CIRA NAMED PRESIDENT, MANUFACTURED HOUSING OF CAVCO INDUSTRIES, INC.
PHOENIX, AZ, May 3, 2021 – Cavco Industries (NASDAQ: CVCO) ("Cavco" or the "Company") announces that after a career of more than 50 years as a respected leader in the manufactured home industry, Charley Lott has decided to retire from Cavco's subsidiary Fleetwood Homes, Inc. and as head of the Company's manufactured housing organization effective July 9, 2021.
Charley Lott began his career with Fleetwood Enterprises at their plant in Douglas, Georgia, in 1970. Ten years later, Charley joined Flintstone Industries, a small, private manufacturer, where, as President, he led the company to increase revenues tenfold and was instrumental in taking the company public. In 1987, Charley returned to Fleetwood and ultimately was named head of the company's 40-plus plant manufacturing operation. In 2008, Charley joined Cavco as part of the Fleetwood acquisition and has played a critical role in the Company's growth and success over the last thirteen years.
Upon Charley's retirement, Brian Cira will assume the role of President, Manufactured Housing. He started his 38-year industry career with Redman Homes in 1983. After a brief time with Skyline Homes, Brian joined Fairmont Homes in sales and worked his way up to become president. Brian joined Cavco in 2015 with the purchase of Fairmont Homes. In his new role, Brian will assume leadership of Cavco's manufacturing plants and the associated functions of sales, purchasing, engineering, and product development.
Bill Boor, President and CEO, commented, "We want to congratulate Charley on a remarkable 50-year career. Recently, he was inducted into the MH/RV Hall of Fame, which is well-deserved recognition of his significant contributions, not only to Fleetwood and Cavco, but also to our industry as a whole. Throughout his career, he has helped countless people in our industry grow and achieve their personal goals. Charley's impact on the Company's consistent success cannot be overstated and will continue to be felt for many years to come."
Mr. Boor continued, "Brian leads with enthusiasm, a positive attitude and a focus on results and continuous improvement. I look forward to our work together during an exciting time for our company."
About Cavco Industries, Inc.
Cavco Industries, Inc., headquartered in Phoenix, Arizona, designs and produces factory-built housing products primarily distributed through a network of independent and Company-owned retailers. We are one of the largest producers of manufactured homes in the United States, based on reported wholesale shipments and marketed under a variety of brand names including Cavco, Fleetwood, Palm Harbor, Fairmont, Friendship, Chariot Eagle and Destiny. We are also a leading producer of park model RVs, vacation cabins and systems-built commercial structures, as well as modular homes. Cavco's finance subsidiary, Country Place Mortgage, is an approved Fannie Mae and Freddie Mac seller/servicer and a Ginnie Mae mortgage-backed securities issuer that offers conforming mortgages, non-conforming mortgages and home-only loans to purchasers of factory-built homes. Our insurance subsidiary, Standard Casualty, provides property and casualty insurance to owners of manufactured homes. Additional information about Cavco can be found at https://www.cavco.com.