Company: LEGH
Filing Date: 2025-11-12
Form Type: DEF 14A
Source: 0001104659-25-109708
Chunk: 29

Company: Legacy Housing Corp
Filing Date: 2025-11-12
Form: DEF 14A
Chunk 29
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ovenants. Duncan Bates Employment Agreement . On June 7, 2022, we entered into an employment agreement with Duncan Bates to serve as our President and Chief Executive Officer. The employment agreement provided for Mr. Bates to receive a base salary of $300,000 per year and a restricted stock award of 14,700 shares of Company common stock. The employment agreement granted Mr. Bates (i) qualified stock options valued at $1,000,000 that vest at a rate of 10% per year, (ii) an option to purchase 300,000 shares of Company common stock at an exercise price of $36 per share, which would vest one-tenth on each anniversary of the effective date and have a term of ten years and (iii) an option to purchase 600,000 shares of Company common stock at an exercise price of $48 per share, which would vest one-tenth on each anniversary of the effective date and have a term of ten years; each of these grants were subject to the terms of the Company’s 2018 Incentive Compensation Plan. The employment agreement provided for customary provisions for the termination of Mr. Bates’ employment. The employment agreement also contained customary confidentiality, intellectual property, non-solicitation and non-competition covenants. On September 27, 2025, Mr. Bates voluntarily resigned as the President and Chief Executive Officer, effective October 10, 2025. Jeffrey M. Fiedelman Employment Agreement. On September 10, 2023, we entered into an employment agreement with Jeffrey M. Fiedelman to serve as our Chief Financial Officer. The employment agreement provided for Mr. Fiedelman to receive a base salary of $275,000 per year. Mr. Fiedelman was eligible for an annual incentive bonus that would be determined by the Board. The employment agreement granted Mr. Fiedelman qualified stock options valued at $500,000 that vested at a rate of 20% per year and would be subject to the terms of the Company’s 2018 Incentive Compensation Plan. The employment agreement provided for customary provisions for the termination of Mr. Fiedelman’s employment. The employment agreement also contained customary confidentiality, intellectual property, non-solicitation and non-competition covenants. On October 6, 2025, Mr. Fiedelman voluntarily resigned as the Chief Financial Officer, effective October 10, 2025. 21

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