Company: LEGH
Filing Date: 2025-11-12
Form Type: DEF 14A
Source: 0001104659-25-109708
Chunk: 27

Company: Legacy Housing Corp
Filing Date: 2025-11-12
Form: DEF 14A
Chunk 27
---
 is a Certified Public Accountant.

19

TABLE OF CONTENTS EXECUTIVE COMPENSATION Compensation Discussion and Analysis Executive Summary The Compensation Committee, which includes our independent directors, oversees an executive compensation program that is intended to align the interests of our executive officers with those of our shareholders, link compensation paid with performance achieved, and attract, retain and motivate our key executives. Our named executive officers (“NEOs”) are shown in the Summary Compensation Table below and include (i) all persons serving as our principal executive officers during the year ended December 31, 2024, and (ii) our two other most highly compensated executive officers during the year ended December 31, 2024, other than our principal executive, who received compensation during the year ended December 31, 2024 of at least $100,000. The annual compensation of our executive officers consists of a base salary and a discretionary bonus. The purpose of the base salary is to provide a fixed amount of cash compensation that is not variable and is generally competitive with market practices. The purpose of the bonus is to provide a variable cash incentive based on performance. In addition, our former chief executive officer and former chief financial officer each received stock option grants upon hire (as disclosed in the Company’s Form 8-K filings). The annual compensation of our two co-founders, Mr. Hodgson and Mr. Shipley, is nominal as their significant equity positions in the Company drive their total compensation. The Company does not have a formal compensation plan. Risk Considerations The Compensation Committee has considered whether our executive compensation program creates risks that are reasonably likely to have a material adverse effect on the Company and concluded that it does not. In reaching its conclusion, the Committee considered the Company’s strategic goals and operational practices and evaluated the design of its compensation programs to assess whether these programs foster a business environment that might drive inappropriate decision-making or behavior. The majority of our management’s cash compensation typically consists primarily of base salary, which we believe mitigates inappropriate or excessive risk-taking that could harm stockholder value. To the extent that executives receive equity incentive awards, historically such awards have been long-term awards that were intended to align executives’ interests with those of our stockholders. Summary Compensation Table The table below shows the compensation paid to or earned by our NEOs for the years ending December 31, 2024 and December 31, 2023 and the positions such NEOs held during the year ended December 31, 2024.

| Name and Position                                                       | ​ | ​ |