Legacy Housing (NASDAQ: LEGH) co-founder takes CEO, chairman roles on $50K salary

Rhea-AI Filing Summary

Legacy Housing Corporation announced that its Board appointed co-founder Kenneth E. Shipley, 67, as Chairman of the Board and Chief Executive Officer, effective August 13, 2026. Shipley has served in multiple senior roles at the company since 2018 and has over 32 years of experience in the manufactured home industry, including ownership and operation of Bell Mobile Homes in Lubbock, Texas.

Shipley has no written employment agreement and, after consultation with the independent directors, agreed to a $50,000 annual salary as CEO, working full-time with no fixed employment term. The company reiterates that Curtis D. Hodgson retired as Executive Chairman and director effective July 21, 2026.

The disclosure also describes related-party transactions: Bell Mobile Homes and entities under the Shipley name buy manufactured homes from Legacy. As of December 31, 2025, Legacy reported specific receivable, payable, and sales balances with these parties under Item 404(a) of Regulation S‑K.

8-K Event Classification

Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers

1 item

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance

Key personnel changes including departures, elections, or appointments of directors and executive officers.

Key Figures

CEO Salary: $50,000 per year Bell Mobile Homes receivables: $613,000 Bell Mobile Homes payables: $103,000 +5 more

8 metrics

CEO Salary $50,000 per year Annual salary agreed for Kenneth E. Shipley as Chief Executive Officer

Bell Mobile Homes receivables $613,000 Accounts receivable due from Bell as of December 31, 2025

Bell Mobile Homes payables $103,000 Accounts payable due to Bell as of December 31, 2025

Sales to Bell Mobile Homes $4.8 million Home sales to Bell for the year ended December 31, 2025

Shipley entities receivables $140,000 Accounts receivable due from Shipley Bros., Ltd. and Crazy Red’s as of December 31, 2025

Shipley entities payables $36,000 Accounts payable due to Shipley Bros., Ltd. and Crazy Red’s as of December 31, 2025

Sales to Shipley entities $2.1 million Home sales to Shipley Bros., Ltd. and Crazy Red’s for the year ended December 31, 2025

CEO age 67 years Age of Kenneth E. Shipley at the time of his appointment as CEO and Chairman

Key Terms

Item 404(a) of Regulation S-K, related-party transactions, manufactured home industry

3 terms

Item 404(a) of Regulation S-K regulatory

"The following transactions are required to be disclosed pursuant to Item 404(a) of Regulation S-K"

related-party transactions financial

"The following transactions are required to be disclosed pursuant to Item 404(a) of Regulation S-K"

Transactions between a company and people or entities with close ties to it — such as executives, board members, major shareholders, family members, or affiliate companies — where one side may have influence over the deal. Investors care because these arrangements can favor insiders, hide costs or benefits, and distort a company’s true performance; think of it like a referee also being a player in the game, which raises questions about fairness and risk.

manufactured home industry technical

"Mr. Shipley has more than 32 years of experience in the manufactured home industry."

FAQ

What leadership change did Legacy Housing (LEGH) announce on August 13, 2026?

Legacy Housing appointed Kenneth E. Shipley as Chairman of the Board and Chief Executive Officer, effective August 13, 2026. He is a co‑founder, long‑time director, and former CEO with more than 32 years of experience in the manufactured home industry.

What is Kenneth Shipley’s compensation as CEO of Legacy Housing (LEGH)?

Kenneth Shipley agreed to an annual $50,000 salary as Chief Executive Officer. This compensation level was determined in consultation with the company’s independent directors. He works full-time for Legacy Housing and has no fixed term of employment.

Does Kenneth Shipley have an employment agreement with Legacy Housing (LEGH)?

Kenneth Shipley does not have a written employment agreement with Legacy Housing. Instead, he serves as CEO and Chairman on an at‑will basis, with a $50,000 per year salary agreed upon in consultation with the company’s independent directors.

What related-party sales did Legacy Housing (LEGH) have with Bell Mobile Homes in 2025?

Bell Mobile Homes, owned by a significant shareholder, purchased manufactured homes totaling $4.8 million in 2025. As of December 31, 2025, Legacy reported $613,000 in accounts receivable from Bell and $103,000 in accounts payable due to Bell.

What transactions did Legacy Housing (LEGH) report with Shipley-related retailers in 2025?

Shipley Bros., Ltd. and Crazy Red’s Mobile Homes purchased manufactured homes totaling $2.1 million in 2025. At December 31, 2025, Legacy reported $140,000 in accounts receivable from these entities and $36,000 in accounts payable due to them.

Did Legacy Housing (LEGH) disclose any family relationships involving its new CEO?

Legacy Housing stated there is no family relationship between Kenneth Shipley and any director, executive officer, or person nominated or chosen to become a director or executive officer of the company.

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Understanding 8-K Material Events →

Available on EDGAR 08/18/2026 - 06:04 AM Accepted by SEC EDGAR 08/17/2026 - 06:29 PM Learn about SEC filing dates

0001436208false00014362082026-08-132026-08-13

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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FORM 8-K

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CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

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Date of Report (Date of Earliest Event Reported): August 13, 2026

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LEGACY HOUSING CORPORATION
(Exact name of registrant as specified in its charter)
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Texas	​	001-38761	​	20-2897516
(State or Other Jurisdiction of Incorporation)	​	(Commission File Number)	​	(IRS Employer Identification No.)
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1600 Airport Freeway, #100, Bedford, Texas			​	76022
(Address of Principal Executive Offices)			​	(Zip Code)

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Registrant’s Telephone Number, Including Area Code: (817) 799-4900

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

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☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

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☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

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☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

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☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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Securities registered pursuant to Section 12(b) of the Act:

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Title of each class:	​ ​ ​	Trading Symbol	​ ​ ​	Name of each exchange on which registered:
Common Stock ($0.001 par value)	​	LEGH	​	NASDAQ Global Market

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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CURRENT REPORT ON FORM 8-K

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Legacy Housing Corporation (the “Company”)

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August 13, 2026

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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

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On August 13, 2026, the Board of Directors of the Company appointed Kenneth E. Shipley, age 67, as Chairman of the Board and Chief Executive Officer of the Company, effective August 13, 2026. Mr. Shipley co-founded the Company in 2005 and has been a member of the Board of Directors since January 2018. He served as the Company’s Co-Chief Executive Officer from January 2018 to February 2019, as President and sole Chief Executive Officer from February 2019 to June 2022, as Chairman of the Board of Directors and Executive Vice President from July 2022 to October 2025, and as Chief Executive Officer on an interim basis from October 10, 2025 until his appointment described above. Prior to that, Mr. Shipley served as a partner of the Company’s predecessor, Legacy Housing, Ltd.

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Mr. Shipley has more than 32 years of experience in the manufactured home industry. Since 1981, he has also owned and operated Bell Mobile Homes in Lubbock, Texas, a manufactured home retailer. Mr. Shipley is a co-founder of the Company and one of its largest shareholders.

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Mr. Shipley does not have a written employment agreement with the Company. Mr. Shipley, in consultation with the Company’s independent directors, has agreed to receive a salary as Chief Executive Officer at a rate of $50,000 per year. He works full-time for the Company and there is no set term for his employment.

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As previously reported in the Company’s Current Report on Form 8-K filed on July 22, 2026, Curtis D. Hodgson retired from his positions as Executive Chairman of the Company and as a member of the Board of Directors effective July 21, 2026.

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The following transactions are required to be disclosed pursuant to Item 404(a) of Regulation S-K under the Securities Exchange Act of 1934.

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Bell Mobile Homes (“Bell”), a retailer owned by one of the Company’s significant shareholders, purchases manufactured homes from the Company. Accounts receivable balances due from Bell were $613,000 as of December 31, 2025, accounts payable balances due to Bell were $103,000 as of December 31, 2025, and home sales to Bell were $4.8 million for the year ended December 31, 2025. Shipley Bros., Ltd. and Crazy Red’s Mobile Homes (together, “Shipley”), retailers owned by one of the Company’s significant shareholders, purchase manufactured homes from the Company. Accounts receivable balances due from Shipley were $140,000 as of December 31, 2025, accounts payable balances due to Shipley were $36,000 as of December 31, 2025, and home sales to Shipley were $2.1 million for the year ended December 31, 2025.

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Other than as described above, there are no arrangements or understandings between Mr. Shipley and any other person pursuant to which Mr. Shipley was selected as an officer of the Company.

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Further, there is no family relationship between Mr. Shipley and any director, executive officer or person nominated or chosen by the Company to become a director or executive officer of the Company.

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SIGNATURES

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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.

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​	LEGACY HOUSING CORPORATION
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Date: August 17, 2026	By:	/s/ Jon Langbert
​	Name:	Jon Langbert
​	Title:	Chief Financial Officer

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Filing Exhibits & Attachments

3 documents

Other Documents

• EX-101 EX-101.SCH 2.9 KB
• EX-101 EX-101.LAB 15.6 KB
• EX-101 EX-101.PRE 10.5 KB