Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-38761 Legacy Housing Corporation (Exact name of registrant as specified in its charter) Texas 20-2897516 (State or other j ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-38761 Legacy Housing Corporation (Exact name of registrant as specified in its charter) Texas 20-2897516 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 1600 Airport Freeway, #100 Bedford, Texas 76022 For the quarterly period ended March 31, 2 ...

Legacy Housing Corporation (NASDAQ:LEGH) Q1 2023 Earnings Conference Call May 10, 2023 11:00 AM ET Company Participants Duncan Bates - President & CEO Max Africk - General Counsel Conference Call Participants Alex Rygiel - B. Riley Mark Smith - Lake Street Leanne Hayden - EF Hutton Duncan Bates Good morning. This is Duncan Bates. Operator Yes. You go ahead, sir. Duncan Bates We're get to go. Operator Yes. We're get to go. Duncan Bates All right. Good morning. This is Duncan Bates, Legacy's President and CEO ...

Legacy Housing Corporation (NASDAQ:LEGH) Q4 2022 Earnings Conference Call March 16, 2023 11:00 AM ET Company Participants Duncan Bates - President and Chief Executive Officer Max Africk - General Counsel Conference Call Participants Min Cho - B. Riley Mark Smith - Lake Street Capital Tim Moore - E.F. Hutton Group Brian Glenn - Olcott Partners Operator Good day, ladies and gentlemen. Thank you for standing by. Welcome to the Legacy Housing Corporation Fourth Quarter 2020 Earnings Conference Call. At this tim ...

Sales Performance - Legacy Housing Corporation sold 4,189 home sections in 2022, a 15.2% increase from 3,635 home sections sold in 2021[116]. - In 2022, approximately 53% of manufactured homes were sold in Texas, up from 50% in 2021, indicating a strong market presence[119]. - The total number of products sold in 2022 was 3,339, a 10.9% increase from 3,011 in 2021[153]. - Product sales increased by $56.1 million, or 33.8%, in 2022, driven by higher average sales prices and increased unit volumes[152]. - Direct sales increased to $45,549 in 2022 from $25,173 in 2021, representing an increase of 81%[271]. - Sales to two independent third-parties accounted for 5.9% and 5.4% of product sales in 2022[266]. Financial Performance - Net revenue for 2022 was $257.0 million, an increase of $59.5 million or 30.1% compared to 2021[150]. - Net income for 2022 reached $67,773, representing a 35.9% increase compared to $49,871 in 2021[198]. - Basic net income per share increased to $2.78 in 2022, up from $2.06 in 2021, reflecting a growth of 34.9%[198]. - Operating income for 2022 was $78,018, a 32.5% increase from $58,916 in 2021[198]. - Total net revenue for the year ended December 31, 2022, was $257,015, an increase of 30% compared to $197,507 in 2021[271]. Cash Flow and Liquidity - Net cash used in operating activities was $1.7 million in 2022, a significant decrease from $60.3 million provided in 2021[164]. - Cash and cash equivalents at the end of 2022 were $2.8 million, up from $1.0 million at the end of 2021[162]. - The available credit under the Revolver was $17.4 million as of December 31, 2022, down from a maximum limit of $70 million[172]. - The company reported a net cash used in operating activities of $(1,691) in 2022, a decrease from $60,296 in 2021[203]. Assets and Liabilities - Total current assets increased to $107,081,000 in 2022 from $92,541,000 in 2021, driven by an increase in cash and cash equivalents from $1,042,000 to $2,818,000[196]. - Total liabilities decreased from $57,273,000 in 2021 to $54,709,000 in 2022, indicating improved financial stability[196]. - The company’s inventories decreased from $42,000,000 in 2021 to $32,075,000 in 2022, indicating a potential shift in inventory management strategy[196]. - The maximum contingent obligations under repurchase agreements were approximately $8,925,000 as of December 31, 2022, compared to $4,908,000 in 2021[176]. Financing and Interest - The company offers three types of financing solutions, enhancing competitive advantages and facilitating sales[120]. - Consumer and MHP loans interest income grew by $1.4 million, or 5.0%, in 2022, primarily due to an increase in the average outstanding consumer loan portfolio balance[154]. - The average contractual interest rate for consumer loans was approximately 13.4% as of December 31, 2022, slightly down from 13.5% in 2021[220]. - Interest expense under the Revolver decreased from $887,000 in 2021 to $225,000 in 2022, with an outstanding balance of $2,545,000 as of December 31, 2022, down from $7,993,000 in 2021[173]. Inventory and Production - The company operates three manufacturing facilities, producing approximately 70 home sections or 60 fully-completed homes per week[118]. - Current manufacturing facilities are operating at or near peak capacity, with plans to increase production at the Georgia facility to meet demand from new markets[125]. - The company is actively reviewing opportunities to add production capacity in attractive regions to meet future demand[127]. - The company’s inventories decreased from $42,000,000 in 2021 to $32,075,000 in 2022, indicating a potential shift in inventory management strategy[196]. Compliance and Regulations - The company maintained compliance with financial covenants, including a tangible net worth of at least $120,000,000 and a debt to EBITDA ratio of 4-to-1 or less as of December 31, 2022[173]. - The company is classified as an "emerging growth company," allowing it to delay the adoption of certain accounting standards until it no longer qualifies[178]. - The Company plans to adopt ASU 2016-13 effective January 1, 2023, which is expected to increase allowance amounts due to changes in credit loss measurement[292]. Other Financial Metrics - Operating expenses increased by $41.4 million, or 31.6%, primarily due to higher costs of materials and labor[158]. - Other revenue increased by $2.1 million, or 48.2%, primarily due to a rise in consignment fees and commercial lease rents[157]. - The company approved a new repurchase program in November 2022, allowing for the purchase of up to $10,000 of its common stock[208]. - The accrued warranty liability at the end of 2022 was $3,049, up from $2,876 in 2021, showing a 6% increase[252].

Financial Data and Key Metrics Changes - Net revenue increased to $57.3 million in Q3 2022, a 1.5% improvement over Q3 2021, driven by price increases despite a decrease in shipments from the Georgia facility [6] - Interest revenue from retail and commercial loan portfolios was $7 million, slightly down from Q3 2021 due to large payoffs in the commercial loan portfolio [7] - Income from operations rose to $16.9 million, a 10% increase from Q3 2021, primarily due to price increases and lower cost of sales [7] - Net income for the quarter was $14.7 million, a 13.4% increase over Q3 2021, with basic earnings per share growing to $0.60, an 11.1% increase [9] - The company ended the quarter with a net cash position of $11.3 million and no drawings on its line of credit [10] Business Line Data and Key Metrics Changes - The Georgia facility experienced a significant slowdown in production due to quality challenges, with shipments in August and September at approximately 10% of normal levels [20] - Production in Georgia decreased by about 40%, while production in Texas increased slightly [21] - The backlog in Georgia is solid, with approximately 800 units, indicating a strong order flow despite recent production issues [22] Market Data and Key Metrics Changes - Labor costs have risen to approximately $9 per square foot, up from $4 pre-COVID, indicating inflationary pressures in the labor market [23] - The company has seen an increase in applicants for positions, suggesting a potential easing of labor shortages as the housing market slows [23] Company Strategy and Development Direction - The company plans to maintain pricing while reducing raw material inventory to capitalize on lower material costs in the coming quarters [8] - Management aims to focus on improving operational efficiencies, including inventory management and reducing SG&A expenses [12] - The company is exploring new product lines and geographic opportunities to drive growth, particularly in land development and temporary classroom products [30] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about 2023, citing a strong backlog and the potential for growth despite current economic challenges [12] - The company believes that the slowdown in the broader housing market may create opportunities to acquire assets at attractive prices [51] - Management noted that the integrated business model with multiple recurring earnings streams will provide resilience in a slowing economy [10] Other Important Information - The company implemented a $10 million stock repurchase program as part of its capital allocation strategy [9] - Management highlighted the importance of in-house financing in maintaining competitive pricing and customer loyalty [39] Q&A Session Summary Question: What happened in Georgia? - The slowdown was due to quality challenges and increased regulatory scrutiny, leading to a significant decrease in production and shipments [20] Question: How is the labor situation currently? - Labor costs have increased, but there has been a rise in applicants, indicating potential improvements in labor availability [23] Question: Can you discuss the loan portfolio and pricing strategy? - The company has not raised rates despite market pressures, maintaining competitive pricing for customers [25] Question: What are the capital allocation plans moving forward? - The company is focused on organic growth and exploring new opportunities while weighing stock repurchases against other capital uses [30] Question: How does the macro environment impact the company? - The company anticipates continued challenges in the site-built housing market but remains optimistic about the manufactured home sector [51]

Financial Performance - For the three months ended September 30, 2022, total net revenue increased by $855,000, or 1.5%, to $57.325 million compared to $56.470 million in the same period of 2021 [163]. - Total net revenue for the nine months ended September 30, 2022, was $181.5 million, an increase of $36.5 million, or 25.1%, from $145.0 million in the same period in 2021 [174]. - Net income for the three months ended September 30, 2022, was $14.735 million, an increase of $1.742 million, or 13.4%, compared to $12.993 million in the same period of 2021 [163]. - Net income for the nine months ended September 30, 2022, was $48.1 million, an increase of $11.7 million, or 32.3%, compared to $36.3 million in the same period in 2021 [174]. - Income from operations for the nine months ended September 30, 2022, was $55.6 million, an increase of $12.6 million, or 29.4%, compared to $43.0 million in the same period in 2021 [174]. Sales and Revenue Composition - Product sales increased by $378,000, or 0.8%, to $48.678 million, driven by higher average sales prices despite a decrease in unit volumes [165]. - Product sales increased by $33.9 million, or 27.8%, during the nine months ended September 30, 2022, driven by higher average sales prices and increased unit volumes [176]. - The net revenue per product sold increased by $5, or 9.2%, to $64.6 due to rising material and labor costs, resulting in higher home sales prices [165]. - The company sold 753 total products during the three months ended September 30, 2022, a decrease of 63 units, or 7.7%, compared to 816 units in the same period of 2021 [165]. - Other revenue increased by $734,000, or 80.6%, to $1.645 million, driven by increases in servicer fee revenue, commercial lease rents, and consignment fees [168]. Costs and Expenses - The cost of product sales decreased by $2.166 million, or 6.1%, primarily due to a decrease in units sold, despite increases in material and labor costs [169]. - The cost of product sales increased by $18.6 million, or 21.7%, during the nine months ended September 30, 2022, primarily due to an increase in units sold and rising material and labor costs [180]. - Selling, general and administrative expenses increased by $5.3 million, or 35.2%, during the nine months ended September 30, 2022, compared to the same period in 2021 [181]. Cash Flow and Financial Position - Cash and cash equivalents increased to approximately $11.3 million as of September 30, 2022, compared to $1.0 million as of December 31, 2021 [185]. - Net cash provided by operating activities decreased by $49.7 million during the nine months ended September 30, 2022, compared to the same period in 2021 [187]. Compliance and Financial Obligations - The Company is required to maintain a tangible net worth of at least $120,000 and a debt to EBITDA ratio of 4 to 1 or less, and was in compliance with these covenants as of September 30, 2022 [196]. - The maximum contingent obligations under the repurchase agreements were approximately $9,905 as of September 30, 2022, compared to $4,908 as of December 31, 2021 [200]. - Operating lease obligations total $3,112, with $176 due in 2022, $1,352 in 2023-2024, $1,154 in 2025-2026, and $430 after 2026 [199]. Internal Controls and Reporting - The Company has identified material weaknesses in internal control over financial reporting, particularly in revenue recognition and accounts payable processing, which are expected to be remediated by the end of fiscal 2022 [208]. - The Company’s disclosure controls and procedures were deemed not effective as of September 30, 2022, due to identified material weaknesses [206]. - There were no changes in internal control over financial reporting that materially affected the Company's controls during the third quarter of fiscal 2022 [209]. Other Financial Information - Interest expense under the New Revolver for the nine months ended September 30, 2022, was $326, down from $827 in the same period of 2021, with an outstanding balance of $0 as of September 30, 2022, compared to $7,993 as of December 31, 2021 [196]. - The effective tax rate for the nine months ended September 30, 2022, was 17.5%, compared to 17.0% for the same period in 2021 [183]. - The Company has not drawn any amounts on the $10,000 credit facility associated with the PILOT agreement, which provides incentives through property tax abatements [197]. - The Company is classified as an "emerging growth company" and has elected to delay the adoption of certain accounting standards until it is no longer classified as such [203]. - The Company has not recorded any reserve for repurchase commitments as of September 30, 2022, considering its obligations on current contracts to be immaterial [200].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-38761 Legacy Housing Corporation (Exact name of registrant as specified in its charter) Texas 20-2897516 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR (State or other j ...

[PART I - FINANCIAL INFORMATION](index=3&type=section&id=PART%20I%20-%20FINANCIAL%20INFORMATION) [Financial Statements (Unaudited)](index=3&type=section&id=Item%201.%20Financial%20Statements) Unaudited Q1 2022 financial statements show significant revenue and net income growth, with total assets at **$390.7 million**, after restating Q1 2021 figures Condensed Balance Sheet Data (in thousands) | Account | March 31, 2022 | December 31, 2021 | | :--- | :--- | :--- | | **Total Current Assets** | $109,091 | $92,541 | | **Total Assets** | $390,667 | $366,667 | | **Total Current Liabilities** | $45,790 | $41,940 | | **Total Liabilities** | $61,174 | $57,273 | | **Total Stockholders' Equity** | $329,493 | $309,394 | Condensed Statements of Income (in thousands, except per share data) | Metric | Three months ended March 31, 2022 | Three months ended March 31, 2021 (restated) | | :--- | :--- | :--- | | **Total net revenue** | $59,928 | $39,940 | | **Income from operations** | $18,267 | $12,683 | | **Net income** | $16,092 | $10,701 | | **Diluted EPS** | $0.65 | $0.44 | Condensed Statements of Cash Flows (in thousands) | Activity | Three months ended March 31, 2022 | Three months ended March 31, 2021 (restated) | | :--- | :--- | :--- | | **Net cash used in operating activities** | $(1,057) | $(1,471) | | **Net cash provided by (used in) investing activities** | $2,754 | $(6,127) | | **Net cash (used in) provided by financing activities** | $(211) | $9,238 | | **Net increase in cash** | $1,486 | $1,640 | - The company restated its financial statements for the period ended March 31, 2021, to correct errors, increasing previously reported net income for Q1 2021 from **$9.0 million** to **$10.7 million**, and diluted EPS from **$0.37** to **$0.44**[29](index=29&type=chunk)[30](index=30&type=chunk) [Note 1. Nature of Operations](index=8&type=section&id=Note%201.%20Nature%20of%20Operations) Legacy Housing Corporation manufactures, transports, and finances mobile homes, with revenue from product sales and interest on consumer and MHP loans - The company's business model includes manufacturing, transportation, wholesale financing for dealers, retail financing for consumers, and financing/developing manufactured home communities[20](index=20&type=chunk) Disaggregation of Revenue (in thousands) | Revenue Source | Q1 2022 | Q1 2021 | | :--- | :--- | :--- | | **Product Sales** | | | | Direct sales | $10,863 | $3,422 | | Commercial sales | $14,059 | $12,318 | | Consignment sales | $20,040 | $10,599 | | Retail store sales | $4,160 | $3,321 | | **Total Product Sales** | **$51,787** | **$32,274** | | **Consumer and MHP loans interest** | **$6,765** | **$6,638** | | **Other** | **$1,376** | **$1,028** | | **Total Net Revenue** | **$59,928** | **$39,940** | [Note 2. Consumer Loans](index=19&type=section&id=Note%202.%20Consumer%20Loans) The company provides consumer financing for mobile homes at an average **13.5%** interest, with a **$127.3 million** net portfolio and **1.2%** of loans past due Consumer Loans Receivable, Net (in thousands) | Component | March 31, 2022 | December 31, 2021 | | :--- | :--- | :--- | | Consumer loans receivable | $130,539 | $129,119 | | Allowance for loan losses | $(724) | $(884) | | **Consumer loans receivable, net** | **$127,259** | **$125,623** | Aging of Past Due Consumer Loans (in thousands) | Days Past Due | March 31, 2022 | % of Total | | :--- | :--- | :--- | | 31 - 60 days | $243 | 0.2% | | 61 - 90 days | $111 | 0.1% | | 91 - 120 days | $109 | 0.1% | | > 120 days | $1,071 | 0.8% | | **Total past due** | **$1,534** | **1.2%** | [Note 3. Notes Receivable from Mobile Home Parks](index=22&type=section&id=Note%203.%20Notes%20Receivable%20from%20Mobile%20Home%20Parks) The company finances MHP sales at an average **7.7%** interest, with significant concentration in two third-parties and an immaterial allowance for loan losses - As of March 31, 2022, the company had significant concentrations of MHP Notes with two independent third-parties, representing **29.1%** and **12.9%** of the total principal balance outstanding[75](index=75&type=chunk) - There were minimal past due balances on MHP Notes, and no allowance for loan loss was recorded as of March 31, 2022, as it was considered immaterial[77](index=77&type=chunk) [Note 10. Debt](index=27&type=section&id=Note%2010.%20Debt) The company has a **$70 million** revolving credit line with Capital One, **$5.2 million** outstanding, and received a waiver for non-compliance with non-financial covenants - The company has a revolving line of credit with Capital One with a maximum limit of **$70,000 thousand** and a maturity date of March 30, 2024, with an outstanding balance of **$5,224 thousand** as of March 31, 2022[100](index=100&type=chunk)[101](index=101&type=chunk) - As of March 31, 2022, the company was not in compliance with certain non-financial covenants of its credit facility and obtained a waiver from Capital One[101](index=101&type=chunk) [Note 13. Commitments and Contingencies](index=32&type=section&id=Note%2013.%20Commitments%20and%20Contingencies) The company has **$14.7 million** in contingent repurchase liabilities for retailer inventory financing and **$2.7 million** in legal reserves for ongoing proceedings - The company is contingently liable under repurchase agreements for retailer inventory financing, with a maximum potential liability of **$14.7 million** at March 31, 2022, up from **$4.9 million** at December 31, 2021, with no reserve recorded as the obligation is considered insignificant[121](index=121&type=chunk) - The company has accrued legal reserves of **$2.7 million** as of March 31, 2022, for various legal proceedings, which management does not believe will have a material adverse effect on the company's financial position[123](index=123&type=chunk) [Note 17. Subsequent Events](index=38&type=section&id=Note%2017.%20Subsequent%20Events) Subsequent events include a credit line default with Capital One, reducing it to **$20 million**, a new CEO appointment, and Nasdaq non-compliance notices for late filings - The company failed to timely file its Form 10-K and 10-Q reports, leading to non-compliance notices from Nasdaq, which granted an exception allowing the company until September 27, 2022, to regain compliance[139](index=139&type=chunk)[140](index=140&type=chunk) - On June 7, 2022, Duncan Bates was appointed as the new President and Chief Executive Officer of the company[141](index=141&type=chunk) - Due to late filings, the company defaulted on its credit agreement with Capital One, leading to the termination of a forbearance agreement and a reduction of the available line of credit from **$70 million** to **$20 million** on August 24, 2022[143](index=143&type=chunk)[144](index=144&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=39&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes strong Q1 2022 performance to higher sales prices and unit volumes, driving **50.0%** revenue growth, while noting increased operating expenses and a subsequent credit line reduction [Results of Operations](index=44&type=section&id=Results%20of%20Operations) Q1 2022 net revenue grew **50.0%** to **$59.9 million** and net income rose **50.4%** to **$16.1 million**, driven by product sales and unit volume, offset by rising costs Comparison of Results of Operations (in thousands) | Line Item | Q1 2022 | Q1 2021 | $ Change | % Change | | :--- | :--- | :--- | :--- | :--- | | **Total net revenue** | $59,928 | $39,940 | $19,988 | 50.0% | | **Cost of product sales** | $33,727 | $22,001 | $11,726 | 53.3% | | **Income from operations** | $18,267 | $12,683 | $5,584 | 44.0% | | **Net income** | $16,092 | $10,701 | $5,391 | 50.4% | - The increase in product sales was driven by both a higher average sales price per unit and an increase in unit volumes sold during the quarter[162](index=162&type=chunk) - Selling, general and administrative expenses increased by **$2.9 million (59.8%)**, primarily due to a **$4.2 million** increase in salaries and incentive costs, partially offset by decreases in loan losses and warranty costs[167](index=167&type=chunk) [Liquidity and Capital Resources](index=47&type=section&id=Liquidity%20and%20Capital%20Resources) Cash was **$2.5 million** as of March 31, 2022, with **$1.1 million** net cash used in operations, and liquidity is now constrained by a subsequent credit line reduction and **$14.7 million** in contingent obligations Summary of Cash Flow Activities (in thousands) | Activity | Q1 2022 | Q1 2021 | | :--- | :--- | :--- | | Net cash used in operating activities | $(1,057) | $(1,471) | | Net cash provided by (used in) investing activities | $2,754 | $(6,127) | | Net cash (used in) provided by financing activities | $(211) | $9,238 | - Subsequent to the quarter, the company's revolving credit facility was declared in default due to failure to timely file reports, and the available credit was reduced from **$70 million** to **$20 million**[180](index=180&type=chunk)[181](index=181&type=chunk) - The company has off-balance sheet contingent obligations under repurchase agreements with a maximum exposure of approximately **$14.7 million** as of March 31, 2022[185](index=185&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=50&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section is omitted as the company qualifies as a smaller reporting company - The company has omitted this section as it is not applicable for smaller reporting companies[189](index=189&type=chunk) [Controls and Procedures](index=51&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls and procedures were ineffective as of March 31, 2022, due to material weaknesses in internal control over financial reporting, with remediation underway - Management concluded that disclosure controls and procedures were not effective as of March 31, 2022, due to previously disclosed material weaknesses in internal control over financial reporting[191](index=191&type=chunk) - Identified material weaknesses include insufficient accounting systems and procedures, inadequate processes for timely financial reporting, lack of segregation of duties and approval for journal entries, and insufficient IT infrastructure safeguards[193](index=193&type=chunk) - The company is implementing remediation plans and expects the majority of the remediation to be completed by the end of fiscal 2022[193](index=193&type=chunk) [PART II - OTHER INFORMATION](index=52&type=section&id=PART%20II%20-%20OTHER%20INFORMATION) [Legal Proceedings](index=52&type=section&id=Item%201.%20Legal%20Proceedings) Legal proceedings information is referenced in Note 13, with a **$2.7 million** legal reserve for ordinary course claims - For details on legal proceedings, the report refers to Note 13 in the financial statements[195](index=195&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=52&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No unregistered sales of equity securities were reported for the period - None reported for the period[196](index=196&type=chunk) [Defaults Upon Senior Securities](index=52&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) No defaults on senior securities were reported for the period, though a credit line default occurred subsequently - None reported for the period[196](index=196&type=chunk) [Exhibits](index=52&type=section&id=Item%206.%20Exhibits) The report includes filed exhibits, such as CEO/CFO certifications and XBRL data files - The filing includes certifications from the Chief Executive Officer and Chief Financial Officer as required by the Sarbanes-Oxley Act, along with XBRL interactive data files[197](index=197&type=chunk)

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ⌧ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ◻ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-38761 Legacy Housing Corporation (Exact Name of Registrant as Specified in its Charter) Texas 20-2897516 (State or Other Jurisdiction of Incorporatio ...