CVCO CAVCO INDUSTRIES, INC.

Did the company actually spend money buying back stock in 3+ of the last 4 quarters?

Bought back stock in 4/4 quarters. Q3 2026: $42M, Q2 2026: $43M, Q1 2026: $29M, Q3 2025: $56M

Is the most recent quarter's buyback spend more than 15% above the trailing average?

Latest quarter $42M vs trailing avg $43M (-1%)

What percentage of free cash flow is going to buybacks? Bull: 30%+. Bear: negative FCF or no buybacks.

Negative FCF ($-39M), buybacks not supported by cash flow

How fast are they shrinking the float? Bull: 2%+ annually. Bear: under 0.5%.

Missing shares repurchased or outstanding data

Are officers and directors buying stock with their own money on the open market?

5 open-market purchases by 3 insiders

• Greenblatt David A. () bought 87 shares at $500.00 on 2026-02-04
• Boor William C (President & CEO) bought 1,000 shares at $495.00 on 2026-02-04
• Greenblatt David A. () bought 400 shares at $462.43 on 2026-02-03
• Greenblatt David A. () bought 13 shares at $481.00 on 2026-02-03
• MOSTER STEVEN W () bought 300 shares at $456.23 on 2026-02-02

Are both company buybacks and insider buying independently active? Bull when the company is buying back stock in 2+ quarters and insiders have made 2+ open-market purchases.

Company buybacks in 4 quarters and 5 insider purchases by 3 insiders (no calendar overlap, but both independently active)

Over the last 90 days, are insiders net buyers or net sellers on the open market?

Insiders bought $1M, sold $0M in the last 90 days (net buying)

Active buyback + insiders net selling 3x+ more than buying. Company cash may be supporting price while insiders exit.

Company buying back stock while insiders sold 4.3x more than bought. 2 C-suite officers among sellers

• BIGBEE PAUL (Chief Accounting Officer) sold 300 shares on 2025-08-29
• CIRA BRIAN R (President,Manufactured Housing) sold 1,000 shares on 2025-08-25
• BIGBEE PAUL (Chief Accounting Officer) sold 300 shares on 2025-08-22