Legacy Housing Corp 2025年度报告

FORM10-K (Mark One) Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule405 of the Securities Act. Yes◻No☒ Indicate by check mark if the registrant is not required to file reports pursuant to Section13 or Section15(d)of the Act. Yes◻No☒ Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of the SecuritiesExchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant was required to file such reports), and(2)has been subject to such filing requirements for the past 90days. Yes☒No◻ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule405 of RegulationS-T during the preceding 12months (or for such shorter period that the registrant was required to submitsuch files). Yes☒No◻ Indicate by check mark if disclosure of delinquent filers pursuant to Item405 of Regulation S-K is not contained herein, and will notbe contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in PartIII of thisForm10-K or any amendment to this Form10-K.◻ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reportingcompany” and “emerging growth company” in Rule12b-2 of the Exchange Act. Large accelerated filer◻Accelerated filer☒Non-accelerated filer◻Smaller reporting company☒Emerging growth company◻ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section13(a)of the Exchange Act.◻ Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectivenessof its internal control over financial reporting under section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered publicaccounting firm that prepared or issued its audit report.☒ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of theregistrant included in the filing reflect the correction of an error to previously issued financial statements.◻ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).◻ The aggregate market value of the registrant’s common equity held by non-affiliates as of June 30, 2025 (the last business day of theregistrant’s most recently completed second fiscal quarter) was $247,297,780. For purposes of the foregoing calculation only, all directorsand the executive officers who were SEC reporting persons of the Registrant as of June 30, 2025, have been deemed affiliates. As of March 12, 2026, the total number of shares outstanding of the registrant’s common stock was 23,812,341 shares. Documents Incorporated by Reference: None TABLE OF CONTENTS PARTI Item1. BusinessItem1A. Risk FactorsItem1B. Unresolved Staff CommentsItem 1C. CybersecurityItem2. PropertiesItem3. Legal ProceedingsItem4. Mine Safety Disclosures 2131313151516 PARTIIItem5. Market for Registrant’s Common Equity, Related Stockholder Matters and IssuerPurchases of Equity Securities17Item6. Selected Financial Data17Item7. Management’s Discussion and Analysis of Financial Condition and Results ofOperations18Item7A. Quantitative and Qualitative Disclosures About Market Risk26Item8. Financial Statements and Supplementary Data27Item9. Changes in and Disagreements with Accountants on Accounting and FinancialDisclosure65Item9A. Controls and Procedures65Item9B. Other Information66PARTIIIItem10. Directors, Executive Officers and Corporate Governance67Item11. Executive Compensation72Item12. Security Ownership of Certain Beneficial Owners and Management and RelatedStockholder Matters81Item13. Certain Relationships and Related Transactions, and Director Independence82Item14. Principal Accounting Fees and Services84PARTIVItem15. Exhibits and Financial Statement Schedules85 PARTI ITEM1.BUSINESS. Forward-Looking Statements This Annual Report on Form 10-K (this “Form 10-K”) contains forward-looking statements.Forward-looking statements are predictions based on expectations and projections about future events, andare not statements of historical fact. Forward-looking statements include statements concerning businessstrategy, among other things, including anticipated trends and developments in and management plans forour business and the markets in which we operate. In some cases, you can identify