Lisa Daniels
About Lisa Daniels
Lisa L. Daniels was appointed as an independent Class II director of Cavco Industries (CVCO) effective October 27, 2025, with an initial term expiring at the 2026 annual meeting . She is a former KPMG LLP Vice Chair of Growth & Strategy, a qualified SEC audit committee Financial Expert, and a Certified Public Accountant licensed in Arizona and California; she holds a BS in Business Administration from Pepperdine University (1988) and brings 32 years of professional services experience, including audit and consulting leadership across Technology, Fintech, Private Equity, Consumer & Retail, Professional Services, Mining, and Real Estate . She has been appointed to the Audit Committee and the Corporate Governance & Nominating Committee and will participate in Cavco’s non‑employee director compensation policy on a pro‑rated basis for the current fiscal year; she will also enter into Cavco’s standard director indemnification agreement .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| KPMG LLP | Vice Chair, Growth & Strategy; Executive Team Member | 32 years | Led growth strategies and transformation initiatives; analytical focus on financial, regulatory, and technology risks |
| KPMG LLP | San Francisco Office Managing Partner; Pacific Northwest Market Leader | Not disclosed (part of 32‑year career) | P&L leadership, market expansion, governance, ethics & compliance oversight |
| KPMG LLP | Global Lead Partner (one of KPMG’s largest global technology accounts) | Not disclosed | Directed large audit/consulting engagements; global account management |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| KPMG Political Action Committee | Board Member (former) | Not disclosed | Governance and political engagement leadership |
Board Governance
- Independence: Appointed as an independent director; Cavco’s Board expanded to 8 members, 7 of whom are independent .
- Committee assignments: Audit Committee (Member) and Corporate Governance & Nominating Committee (Member), effective October 27, 2025 .
- Audit committee expertise: Qualified SEC audit committee Financial Expert .
- Committee chairs (current, per latest proxy before her appointment): Audit – Richard Kerley (Chair); Compensation – Steven Moster (Chair); Corporate Governance & Nominating – David Greenblatt (Chair); Legal & Compliance Oversight – Susan Blount (Chair) .
- Board attendance and engagement framework: In FY2025 the Board held four meetings and each director met at least 75% attendance expectations; independent directors met regularly in executive session; all directors attended the July 30, 2024 annual meeting .
- Director selection and relationships: No arrangements/understandings led to her selection; no related party transactions requiring Item 404(a) disclosure; no family relationships with directors/executives .
Committee Memberships (Lisa Daniels)
| Committee | Role |
|---|---|
| Audit Committee | Member |
| Corporate Governance & Nominating Committee | Member |
Fixed Compensation
- Policy applicability: Ms. Daniels will participate in Cavco’s non‑employee director compensation policy pro‑rated for the current fiscal year .
- Cash retainer and committee fees (FY2025 policy):
- Annual cash retainer: $75,000
- Audit Committee: Chair $20,000; Member $10,000
- Compensation Committee: Chair $20,000; Member $7,500
- Corporate Governance & Nominating Committee: Chair $15,000; Member $7,500
- Legal & Compliance Oversight Committee: Chair $15,000; Member $7,500
- Chairman of the Board additional annual cash fee: $50,000
| Component | Annual Amount | Notes |
|---|---|---|
| Director cash retainer | $75,000 | Pro‑rated for initial partial year |
| Audit Committee member fee | $10,000 | Annual policy rate; pro‑rated |
| Corporate Governance & Nominating member fee | $7,500 | Annual policy rate; pro‑rated |
Performance Compensation
- Equity grant structure (non‑employee directors): Approximately $120,000 in time‑based RSUs for all non‑employee directors except the Chairman; RSUs vest 100% upon the anniversary of the grant date (or next annual meeting, if earlier) .
- FY2025 grant example (existing directors): RSU grant date July 30, 2024; fair value ~$120,114 per director (Chairman ~$170,092) .
- Performance conditions: Director equity awards are time‑based; no disclosed performance‑tied metrics for directors (NEO metrics exist separately under STIP/LTIP, not applicable to directors) .
| Equity Type | Annual Grant Value | Vesting Schedule | Grant Date Example |
|---|---|---|---|
| RSUs (Directors) | ~$120,000 | 100% at anniversary or next annual meeting | July 30, 2024 example (FY2025 proxy) |
| RSUs (Chairman) | ~$170,000 | 100% at anniversary or next annual meeting | July 30, 2024 example |
Other Directorships & Interlocks
- Public company directorships: Not disclosed in Cavco’s 8‑K or press release at appointment .
- Interlocks/related party: No related party transactions requiring Item 404(a); no family relationships; standard indemnification agreement .
Expertise & Qualifications
- Financial expertise: Qualified SEC audit committee Financial Expert; CPA in Arizona and California .
- Strategic and operational leadership: Vice Chair of Growth & Strategy; experience launching/managing transformation and growth strategies; anticipating market dynamics .
- Risk and controls: Deep understanding of financial, regulatory, and technology‑related risks and controls; ethics and compliance .
- Industry breadth: Led engagements across Technology, Fintech, Private Equity, Consumer & Retail, Professional Services, Mining, Real Estate .
- Education: BS, Business Administration, Pepperdine University (1988) .
Equity Ownership
- Ownership guidelines for directors: Must own Cavco shares equal to at least 5× the annual cash retainer within the fifth full fiscal year after appointment/election .
- Trading policy: Anti‑hedging, anti‑pledging, no short‑selling, no derivatives; no hardship exemption for directors/executives .
- Beneficial ownership and Section 16 reporting: FY2025 proxy indicates all Section 16 officers and directors complied with filing requirements; Ms. Daniels joined post‑FY2025 and will report per standard SEC obligations .
Insider Trades
| Date | Form | Title | Transaction | Shares | Price | Notes |
|---|---|---|---|---|---|---|
| — | — | Director | — | — | — | No insider transactions reported publicly as of this writing; Nasdaq insider page shows no data available |
Governance Assessment
- Strengths: Independent appointment; adds a qualified SEC Financial Expert to the Audit Committee; strong background in strategy, risk management, and financial controls; no related party transactions or family relationships; anti‑hedging/anti‑pledging policy and robust director ownership guidelines promote alignment .
- Compensation structure: Balanced mix of fixed cash (retainer/committee fees) and time‑based RSUs (no performance metrics), consistent with market practice; pro‑rated application for initial service period .
- Board effectiveness signals: Board maintains regular executive sessions and attendance discipline; current committee chair structure provides oversight continuity while integrating a new independent member .
- Monitoring items: Track initial Form 3/4 filings and beneficial ownership in the next proxy; verify meeting attendance and engagement in FY2026 cycle; confirm any additional public company boards if disclosed in future filings .