Recent Material Event

Item 5.02    Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(b)          Effective April 4, 2011, in connection with the sale of the assets of Palm Harbor Homes, Inc. (the "Company") to a wholly owned subsidiary of Cavco Industries, Inc., Ms. Kelly Tacke, the Company's Chief Financial and Accounting Officer, terminated her employment with the Company to pursue other career opportunities, effective immediately.

Larry Keener, the Company's President and Chief Executive Officer, expressed appreciation for Ms. Tacke's dedication and service to the Company over the last eighteen years.

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.
Date: April 5, 2011 PALM HARBOR HOMES, INC.  
/s/ Larry H. Keener 
Larry H. Keener
Chief Executive Officer