CHAMPION HOMES INC (SKY)
Sector: Consumer Discretionary
2026 Annual Meeting Analysis
CHAMPION HOMES INC · Meeting: July 30, 2026
Directors FOR
6
Directors AGAINST
0
Say on Pay
FOR
Auditor
FOR
Director Elections
Election of Directors
Berman has served since 2018 with strong relevant qualifications including CFO experience at a manufactured home communities REIT and investment banking background; SKY's 3-year return of +32.7% trails the peer median by only 9.1 percentage points, well below the 65pp threshold required to trigger a No vote for a strong-positive-TSR company, and no overboarding, attendance, independence, or other flags apply.
Fedewa joined in March 2025, which is within the 24-month new-director exemption window, so the TSR trigger does not apply; she brings extensive senior leadership and M&A experience from lending and financing institutions that is directly relevant to Champion Homes' business.
Helgren has served since 2019 with strong marketing, technology, and CEO-level operating experience; the 3-year TSR gap of -9.1pp versus the peer median is far below the 65pp threshold required to trigger a No vote, and no other policy flags apply.
Larson joined the board in December 2024, which is within the 24-month new-director exemption window, so the TSR trigger does not apply to him in his capacity as a director; he is the sitting CEO with directly relevant consumer products and manufacturing experience.
Patel has served since July 2022 and brings relevant fintech, online home-buying, and product management expertise; the 3-year TSR gap of -9.1pp is well below the 65pp threshold needed to trigger a No vote, and no other policy flags apply.
Robinette has served since 2018 with deep housing industry executive experience including as CEO of a building products company; the 3-year TSR gap of -9.1pp is far below the 65pp threshold required to trigger a No vote, and no overboarding, attendance, independence, or other flags apply.
All six director nominees pass the policy screens. SKY's 3-year stock return of +32.7% (strong positive tier) means the TSR underperformance threshold versus the compensation peer group is 65 percentage points; the actual gap is only -9.1pp, well within the acceptable range. Fedewa and Larson are within the 24-month new-director exemption. No director has overboarding, attendance below 75%, independence, or familial-relationship issues. The slate receives a FOR vote across the board.
Say on Pay
✓ FORCEO
Tim Larson
Total Comp
$6,363,206
Prior Support
94.5%%
CEO Tim Larson's total compensation as reported in the proxy is $6,363,206 (fiscal 2025 column in the Summary Compensation Table, which is the most recently completed fiscal year for which full pay data is presented), which is within a reasonable range for a CEO of a ~$4.6B consumer discretionary manufacturer; the pay structure is strongly variable, with 87% of the CEO's target direct compensation at risk through performance-based equity awards and an annual cash bonus tied to EPS and revenue targets, meeting the policy's 50-60%+ variable pay requirement. The annual incentive plan uses objectively measurable financial metrics (consolidated EPS and consolidated revenue), the long-term equity program ties 60% of performance stock awards to relative total shareholder return versus peers and 40% to market share, the company has a robust clawback policy compliant with Dodd-Frank rules, and shareholders gave 94.5% support at the prior year's vote — all of which support a FOR determination.
Auditor Ratification
✓ FORAuditor
Ernst & Young LLP
Tenure
N/A
Audit Fees
$2,327,850
Non-Audit Fees
$625,714
Non-audit fees (audit-related fees of $507,500 plus tax fees of $118,214, totaling $625,714) represent approximately 26.9% of core audit fees of $2,327,850, which is well below the 50% threshold that would trigger a No vote; EY's tenure is not disclosed so the tenure trigger cannot fire; EY is a Big 4 firm appropriate for a $4.6B market-cap company; and the proxy notes that a prior-year material weakness was fully remediated in fiscal 2026 without any disclosed auditor failure.
Overall Assessment
Champion Homes' 2026 annual meeting presents a clean ballot: all six director nominees pass TSR, overboarding, attendance, independence, and qualification screens; EY's non-audit fee ratio is well within the acceptable range and the prior-year material weakness was remediated; and the executive compensation program features a strongly variable pay structure with measurable performance conditions and received 94.5% shareholder support in 2025. All three proposals receive a FOR determination.
Compensation Peer Group
14 companies disclosed in 2026 proxy filing