Company: LEGH
Filing Date: 2025-11-12
Form Type: DEF 14A
Source: 0001104659-25-109708
Chunk: 28

Company: Legacy Housing Corp
Filing Date: 2025-11-12
Form: DEF 14A
Chunk 28
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 ​ | ​ |     76,154 | ​ |       ​ | ​ | ​ | ​ |    10,000 | ​ |      ​ | ​ | ​ | ​ | —               | ​ | ​ | ​ | ​ | ​ |          349,740 | ​ | ​ | ​ | ​ | ​ | —                                      | ​ | ​ | ​ | ​ | ​ | —                                           | ​ | ​ | ​ | ​ | ​ | —                         | ​ | ​ | ​ | ​ | ​ |   435,894 | ​ |       ​ |   |   |

**(1) Mr. Shipley was Executive Vice President and Director in 2024; effective December 4, 2024, he became Chairman of the Board. (2) Mr. Bates resigned from the Company in October 2025. (3) Mr. Fiedelman resigned from the Company in October 2025. Employment Agreements Kenneth E. Shipley Employment Agreement. On November 27, 2018, we entered into an employment agreement with Kenneth E. Shipley to serve as our Co-Chief Executive Officer. From February 2019 to June 2022, Mr. Shipley served as our President and sole Chief Executive Officer, and in June 2022, Mr. Shipley became our Executive Vice President. In December 2024, Mr. Shipley became Chairman of the Board. Mr. Shipley’s initial term of the employment agreement expired on December 31, 2021, and his current term of employment automatically extends for one year, every year on December 31. Under his employment agreement, Mr. Shipley’s annual base salary is $50,000, and he is entitled to receive such health, death, disability, and other insurance benefits, and to participate in such retirement and other plans, as are made available to other executive officers of the Company. The employment agreement provides for customary provisions for the termination of Mr. Shipley’s employment. Mr. Shipley is entitled to receive his base salary for the remaining portion of the employment period if he is terminated without cause. Additionally, in the event Mr. Shipley’s employment with us is terminated within one year after a change of control (as defined in the employment agreement) for certain reasons, we have agreed to pay Mr. Shipley an amount equal to two years’ compensation at his then current rate of pay. The employment agreements also contain customary confidentiality, intellectual property, non-solicitation and non-competition c