Legacy Housing Corporation filed a current report on August 18, 2026, disclosing the appointment of Kenneth E. Shipley, age 67, as Chairman of the Board and Chief Executive Officer, effective August 13, 2026.

Key Highlights

  • New CEO and Chairman: Kenneth E. Shipley, age 67, was appointed Chairman of the Board and Chief Executive Officer effective August 13, 2026.
  • Co-founder with deep tenure: Shipley co-founded Legacy Housing Corporation in 2005 and has served on the Board of Directors since January 2018.
  • Below-market compensation: Shipley agreed to a salary of $50,000 per year with no written employment agreement and no set term.
  • Related-party sales disclosed: Home sales to Bell Mobile Homes, a retailer Shipley owns, were $4.8 million for the year ended December 31, 2025.
  • Additional related-party transactions: Home sales to Shipley Bros., Ltd. and Crazy Red's Mobile Homes totaled $2.1 million for the year ended December 31, 2025.
  • Prior CEO departure: Curtis D. Hodgson retired as Executive Chairman and board member effective July 21, 2026, as previously reported.

Shipley's Appointment and Related-Party Disclosures at Legacy Housing

According to the filing, Legacy Housing Corporation (NASDAQ:LEGH), a manufactured home company headquartered at 1600 Airport Freeway, Bedford, Texas, appointed Kenneth E. Shipley as Chairman of the Board and Chief Executive Officer on August 13, 2026. The filing notes that Shipley has more than 32 years of experience in the manufactured home industry and co-founded the company in 2005. He has held multiple senior roles at Legacy Housing, including Co-Chief Executive Officer from January 2018 to February 2019, President and sole Chief Executive Officer from February 2019 to June 2022, and Chairman and Executive Vice President from July 2022 to October 2025, before serving as interim Chief Executive Officer from October 10, 2025 until this permanent appointment.

The filing also discloses that Shipley has owned and operated Bell Mobile Homes in Lubbock, Texas, a manufactured home retailer, since 1981. Because Shipley is described as one of the company's largest shareholders and owns businesses that transact with Legacy Housing, the filing includes related-party disclosures required under Item 404(a) of Regulation S-K. Bell Mobile Homes carried accounts receivable balances of $613,000 and accounts payable balances of $103,000 as of December 31, 2025, with home sales from the company to Bell totaling $4.8 million for the year ended December 31, 2025. Similarly, Shipley Bros., Ltd. and Crazy Red's Mobile Homes had accounts receivable balances of $140,000 and accounts payable balances of $36,000 as of December 31, 2025, with home sales to those entities totaling $2.1 million for the same period.

The filing states that Shipley does not have a written employment agreement and works full-time for the company with no set employment term. His annual salary of $50,000 was agreed upon in consultation with the company's independent directors. The filing further states there is no family relationship between Shipley and any other director or executive officer, and no outside arrangements or understandings pursuant to which he was selected.

What Was Disclosed

Legacy Housing Corporation disclosed the permanent appointment of Kenneth E. Shipley as Chairman and CEO, his $50,000 annual salary with no written agreement, the retirement of prior Executive Chairman Curtis D. Hodgson, and related-party transaction balances between the company and retailers owned by Shipley.