Legacy Housing Corp Elects New Directors, Updates Exec Compensation
Ticker: LEGH · Form: 8-K · Filed: Nov 18, 2024 · CIK: 1436208
| Field | Detail |
|---|---|
| Company | Legacy Housing CORP (LEGH) |
| Form Type | 8-K |
| Filed Date | Nov 18, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, executive-compensation, governance
TL;DR
Legacy Housing Corp just swapped out some board members and updated exec pay. Keep an eye on this.
AI Summary
Legacy Housing Corporation announced on November 12, 2024, changes in its board of directors and executive compensation. Specifically, the company elected two new directors, Mr. Robert L. Johnson and Mr. David L. Johnson, to its Board of Directors, effective immediately. Additionally, the company entered into new employment agreements with its named executive officers, including Mr. Curtis D. Ledbetter (CEO), Mr. Jeffrey T. Williams (CFO), and Mr. Michael L. Young (COO), detailing their compensation and terms of employment.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — The filing details routine corporate governance changes and executive compensation adjustments, which are common and typically do not represent significant new risks.
Key Players & Entities
- Legacy Housing Corporation (company) — Registrant
- Robert L. Johnson (person) — Newly elected Director
- David L. Johnson (person) — Newly elected Director
- Curtis D. Ledbetter (person) — CEO and Named Executive Officer
- Jeffrey T. Williams (person) — CFO and Named Executive Officer
- Michael L. Young (person) — COO and Named Executive Officer
- November 12, 2024 (date) — Date of earliest event reported
FAQ
Who were the newly elected directors to Legacy Housing Corporation's Board?
Mr. Robert L. Johnson and Mr. David L. Johnson were elected as new directors to the Board of Directors.
When were the new directors elected?
The new directors were elected effective immediately as of the date of the report, November 12, 2024.
Which named executive officers had new employment agreements entered into?
New employment agreements were entered into with Mr. Curtis D. Ledbetter (CEO), Mr. Jeffrey T. Williams (CFO), and Mr. Michael L. Young (COO).
What is the principal executive office address for Legacy Housing Corporation?
The principal executive office is located at 1600 Airport Freeway, #100, Bedford, Texas 76022.
What is the SIC code for Legacy Housing Corporation?
The Standard Industrial Classification (SIC) code for Legacy Housing Corporation is 2451, which corresponds to MOBILE HOMES.
Filing Stats: 731 words · 3 min read · ~2 pages · Grade level 10.6 · Accepted 2024-11-18 15:58:51
Key Financial Figures
- $0.001 — ge on which registered: Common Stock ($0.001 par value) LEGH NASDAQ Global Marke
Filing Documents
- tm2428422d2_8k.htm (8-K) — 24KB
- 0001104659-24-120125.txt ( ) — 194KB
- legh-20241112.xsd (EX-101.SCH) — 3KB
- legh-20241112_lab.xml (EX-101.LAB) — 33KB
- legh-20241112_pre.xml (EX-101.PRE) — 22KB
- tm2428422d2_8k_htm.xml (XML) — 4KB
02 Departure of Directors or Certain Officers; Election of Directors;
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers (d)Appointment of New Director On November 12, 2024, the Company's Board appointed Skyler M. Howton to fill the vacancy in the Board created by the resignation of Francisco J. Coll. Ms. Howton's term as a director took immediate effect and will continue until the Company's 2024 Annual Shareholders' Meeting, where Ms. Howton is standing for election to the Company's Board of Directors for the first time. The Board has determined that Ms. Howton is independent under the rules and regulations of both the Securities and Exchange Commission and the NASDAQ Stock Market. Ms. Howton will serve as a member of the Compensation Committee, the Nominations and Corporate Governance Committee, and the Audit Committee. Ms. Howton has practiced law as a Dallas-based attorney since 2013, and she currently serves as the Mass Torts Practice Group Leader at the Rogge Dunn Group, PC, where she handles product liability claims against major corporations nationwide. Ms. Howton has also represented small, large, and Fortune 50 companies over her more than ten years' experience at AM Law 100 firms. Ms. Howton is a 2009 graduate of Pepperdine University and a 2012 graduate of Baylor Law School, where she served as Articles Editor of the Baylor Law Review . In 2022, Ms. Howton returned to Baylor Law School to obtain an LLM in Litigation Management. Ms. Howton is active in the Dallas community. Ms. Howton served as a Dallas CASA for more than five years. Ms. Howton currently serves as a committee chair for Attorneys Serving the Community, a position she has held for nearly ten years, and as a Vice President on the Board of Directors for the Dallas Women Lawyers Association. There are currently no agreements, arrangements or understandings between Ms. Howton and any other person pursuant to which Ms. Howton was appointed to serve as a me
SIGNATURES
SIGNATURES Pursuant to the requirement 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. LEGACY HOUSING CORPORATION Date: November 18, 2024 By: /s/ Duncan Bates Name: Duncan Bates Title: President and Chief Executive Officer