Jack Brandom
About Jack Brandom
Jack S. Brandom, age 62, serves as President of CountryPlace Acceptance Corp., Cavco’s finance subsidiary (appointed October 2023). He previously was EVP & COO of CountryPlace (Aug 2021–Oct 2023) and held vice president roles at CountryPlace (2013–2021; 2005–2008), with prior leadership roles at CSI SCORE (President, 2009–2012), CDM Data & Dealer Services/Kelley Blue Book (President, 2002–2005), and Conseco (senior management including President of its Manufactured Housing Division, 1993–2001) . During FY2025, Cavco highlighted strong performance context for its pay programs, including second-highest revenue and third-highest net income in company history and 22.9% gross profit in factory-built housing; Cavco’s cumulative TSR implied a $100 investment grew to $350 by FY2025, framing the incentive alignment environment in which executives operate .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| CountryPlace Acceptance Corp. (Cavco finance subsidiary) | President | Oct 2023–Present | Leads Cavco’s captive finance arm, integral to manufactured housing affordability/access and segment profitability . |
| CountryPlace Acceptance Corp. | EVP & COO | Aug 2021–Oct 2023 | Drove operations and execution for finance subsidiary during market normalization post-COVID . |
| CountryPlace Acceptance Corp. | Vice President | 2013–2021; 2005–2008 | Senior operating roles across lending operations supporting Cavco’s retail/manufacturing ecosystem . |
| CSI SCORE | President | 2009–2012 | Led online marketing technology business; relevant to digital origination/lead-gen capabilities . |
| CDM Data & Dealer Services (Kelley Blue Book) | President | 2002–2005 | Ran automotive data/services business; data/analytics competencies transferable to lending risk/pricing . |
| Conseco, Inc. | Senior management incl. President, Manufactured Housing Division | 1993–2001 | Led manufactured housing finance at scale, foundational expertise for CountryPlace leadership . |
External Roles
- No current public-company directorships or external board roles disclosed for Brandom in CVCO proxies .
Fixed Compensation
| Component | FY2024 | FY2025 | Notes |
|---|---|---|---|
| Base Salary | Not disclosed (not an NEO) | Not disclosed (not an NEO) | Brandom was not listed among Named Executive Officers; CVCO discloses detailed comp only for NEOs . |
| Perquisites | Not disclosed | Not disclosed | CVCO states NEO perqs are minimal and broadly available programs; no Brandom-specific perqs disclosed . |
Performance Compensation
CVCO’s disclosed incentive architecture (for NEOs) indicates design principles likely shaping broader executive incentives, even though Brandom’s specific targets/payouts are not disclosed.
- Short-Term Incentive (STIP) – Company performance metrics and structure:
- 90% weight: Factory-Built Housing segment adjusted pre-tax profit vs budget (threshold 70%, target 100%, stretch 130%) .
- 10% weight: Financial Services segment adjusted pre-tax profit vs budget (threshold 70%, target 100%, stretch 130%) .
- Long-Term Incentive (LTIP) – PRSU metrics and RSU vesting:
- PRSUs (FY2025 design): relative TSR vs peer group (33%), market share/growth vs manufactured housing industry (33%), ROIC (34%); 3-year performance period; payout 50%–200% of target in May 2027 .
- RSUs: time-based vesting 33%/33%/34% over three years (typical schedule) .
| Metric | Weight | Target Definition | Payout Range | Vest/Measurement |
|---|---|---|---|---|
| Factory-Built Housing adj. pre-tax profit | 90% (STIP) | Budgeted FY result | 0.5x–2.0x of target factor | Annual (FY) . |
| Financial Services adj. pre-tax profit | 10% (STIP) | Budgeted FY result | 0.5x–2.0x of target factor | Annual (FY) . |
| Relative TSR | 33% (PRSUs) | Percentile vs peer group | 50%–200% of target shares | 3-year PRSU; issued May 2027 . |
| Growth vs industry | 33% (PRSUs) | Volume/market share vs HUD-code shipments | 50%–200% | 3-year PRSU; issued May 2027 . |
| ROIC | 34% (PRSUs) | Return on invested capital | 50%–200% | 3-year PRSU; issued May 2027 . |
| RSUs | N/A | Time-based | N/A | 33%/33%/34% over 3 years . |
Note: FY2023 PRSUs paid at 155% of target for NEOs (rTSR 83.8th percentile; growth 20.1%; operational improvement 2.9%), evidencing performance-tilt; Brandom did not have FY2023 PRSUs disclosed as an NEO .
Equity Ownership & Alignment
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Policies (company-wide):
- Stock ownership guidelines apply to officers; multipliers vary by level (e.g., CEO 5x salary; CFO 3x; other officer levels with designated multiples). Specific multiplier for Brandom’s role not enumerated in proxy; guidelines and compliance expectations disclosed .
- Anti-hedging, anti-pledging, no short-selling or derivatives for officers/directors; no hardship exemption for insiders .
- Clawback policy in place for incentive compensation (accounting restatements and other triggers) .
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Insider transactions and current holdings:
- 2025-08-01: Form 4 (Code F) surrender of 16 shares at $422.81 to cover taxes on RSU vest; beneficial ownership 1,266 shares, including 699 unvested RSUs (no open-market sale) .
- 2025-11-04: Form 4 indicates surrender of shares for RSU tax withholding; filing notes holdings include 481 shares underlying RSUs as of that filing date (routine administrative transaction) .
- 2024-11-26: Form 4 filed; Company IR archive confirms filing existence (details not altering ownership thesis; routine) .
| Date (Form 4) | Transaction | Shares | Price | Post-transaction beneficial ownership | Notes |
|---|---|---|---|---|---|
| 2025-08-01 | Code F (withhold for RSU tax) | 16 | $422.81 | 1,266 total; includes 699 unvested RSUs | Not an open-market sale . |
| 2025-11-04 | Code F (withhold for RSU tax) | Not stated in summary | — | Includes 481 RSUs referenced in filing | Routine vesting/tax withholding . |
Implications: Recent insider activity reflects only RSU-related tax withholding with no open-market sales, suggesting low active selling pressure. Anti-pledging policy further reduces alignment risk .
Employment Terms
| Item | Disclosure for Brandom |
|---|---|
| Employment agreement | No individual employment agreement disclosed for Brandom in FY2024 or FY2025 proxies (agreements disclosed for CEO, CFO, and GC) . |
| Severance / Change in Control | Not disclosed for Brandom; double-trigger CIC/severance terms disclosed only for certain NEOs (e.g., CEO/CFO/GC) . |
| Non-compete / Non-solicit | Not disclosed for Brandom; applicable terms described for executives with agreements (e.g., CEO) . |
| Clawback | Company clawback policy applies to covered executives . |
| Securities trading | Hedging/pledging prohibited; blackout and compliance policies apply . |
Performance & Track Record (Company Context)
- FY2025 outcomes emphasized by Board: second-highest revenue, third-highest net income in company history; factory-built housing gross profit as % of net revenue of 22.9% .
- Pay-versus-performance: Cumulative TSR grew to $350 from $100 baseline by FY2025; adjusted pre-tax income highlighted as key pay linkage metric .
Say-on-Pay & Shareholder Feedback
- Say-on-Pay approval: over 98% support at 2024 Annual Meeting (held July 30, 2024) and continued strong support noted; Board views as endorsement of program design . In 2023 meeting (covering FY2024 program), 97% support was recorded .
Compensation Structure Analysis
- Equity-heavy LTIP with multi-year PRSU metrics (rTSR, growth vs industry, ROIC) indicates emphasis on relative value creation and disciplined capital deployment .
- RSU shift and time-based vesting (33/33/34) lower risk of option re-pricing and provide steady retention cadence; no option re-pricings disclosed .
- Anti-hedge/pledge and ownership guidelines bolster alignment and reduce red flags .
Risk Indicators & Red Flags
- Related-party transactions: none reportable in FY2025 (and FY2024) .
- Hedging/pledging: prohibited for officers/directors .
- Clawback: in place .
- SEC/Legal: no Brandom-specific proceedings disclosed in proxies .
Investment Implications
- Alignment: RSU and likely PRSU participation with multi-year vesting, combined with anti-pledging policy and recent insider activity limited to tax withholding, point to solid alignment and low incremental selling pressure around vest dates .
- Retention: No disclosed individual severance/CIC protections for Brandom; retention visibility relies on ongoing equity grants/vesting cadence and corporate policies rather than bespoke agreements .
- Performance levers: Company STIP/PRSU frameworks tie pay to segment profitability (including Financial Services), relative TSR, growth vs industry, and ROIC—all relevant to CountryPlace’s contribution to consolidated results . Monitoring Financial Services segment profitability and PRSU attainment conditions will be key to anticipating vest-related supply and payout slope.
- Governance backdrop: Strong shareholder support for pay design and robust trading/ownership policies reduce governance risk signals .