Company: LGCY
Filing Date: 2025-09-25
Form Type: 10-K
Source: 0001493152-25-014945
Chunk: 659

Company: Legacy Education Inc.
Filing Date: 2025-09-25
Form: 10-K
Item: Item 3
Chunk 659
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From
time to time, we may become involved in various lawsuits and legal proceedings, which arise in the ordinary course of business. Litigation
is subject to inherent uncertainties and an adverse result in these or other matters may arise from time to time that may harm our business.
We are currently not aware of any such legal proceedings or claims that will have, individually or in the aggregate, a material adverse
effect on our business, financial condition or operating results.

ITEM
4. MINE SAFETY DISCLOSURES

Not
applicable.

79

PART
II

ITEM
5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

Market
Information

On
September 27, 2024, our common stock began trading on the NYSE American LLC under the symbol “LGCY.” Prior to that time,
there was no public market for our common stock.

Stockholders

As
of September 22, 2025, there were approximately 31 stockholders of record of our common stock. The actual number of holders of our
common stock is greater than this number of record holders, and includes stockholders who are beneficial owners, but whose shares
are held in street name by brokers or held by other nominees. This number of holders of record also does not include stockholders
whose shares may be held in trust by other entities.

Dividend
Policy

While
we have previously paid cash dividends on our capital stock, we do not anticipate paying any cash dividends on our common stock in the
foreseeable future. We intend to retain future earnings to fund ongoing operations and future capital requirements. Any future determination
to pay cash dividends will be at the discretion of our board of directors and will be dependent upon financial condition, results of
operations, capital requirements and such other factors as the board of directors deems relevant.

Recent
Sales of Unregistered Securities

In
August 2024, we issued 76,000 shares of common stock upon exercise of options.

On
December 18, 2024, we issued 118,906 shares of our common stock to Equiniti Trust Company, LLC (“Equiniti”), as escrow agent
for CCMCC, pursuant to the that certain Stock Escrow Agreement by and among the Buyer, CCMCC and Equiniti dated as of December 18, 2024.

The
issuances above were made pursuant