---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-23-006673"
form_type: "8-K"
ticker: "LEGH"
cik: "0001436208"
company_name: "Legacy Housing Corp"
filed_at: "2023-04-25T23:59:59+00:00"
generated_at: "2026-06-16T16:02:29.308413+00:00"
event_type: "regulatory"
sentiment: "negative"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Legacy Housing fails NASDAQ audit committee independence rule; plans cure by 2023 meeting

## Summary
- Company notified NASDAQ it no longer meets Listing Rule 5605(c)(2)(A) requiring at least three independent directors on Audit Committee.
- Joseph P. Lane resigned from Audit Committee but remains on Board as independent director.
- Company will appoint a new independent director to Audit Committee at or before 2023 annual shareholders' meeting.
- Cure period permitted under NASDAQ Rule 5605(c)(4)(B) allows time to regain compliance.

## SEC filing metadata
- accession: 0001558370-23-006673
- form_type: 8-K
- ticker: LEGH
- cik: 0001436208
- company_name: Legacy Housing Corp
- filed_at: 2023-04-25T23:59:59+00:00
- event_type: regulatory
- sentiment: negative
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 3.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1436208/000155837023006673/0001558370-23-006673-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1436208/000155837023006673/legh-20230420x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-006673
- JSON: https://secwatch.observer/filing/0001558370-23-006673.json
- Plain text: https://secwatch.observer/filing/0001558370-23-006673.txt

## Key facts
- Listing & Compliance Notices
  Legacy Housing Corp received a nasdaq noncompliance notice notice regarding audit committee (rules 5605(c)(2)(A), 5605(c)(4)(B)).
  - Exchange: nasdaq
  - Notice: noncompliance notice
  - Deficiency: audit committee
  - Rules: 5605(c)(2)(A), 5605(c)(4)(B)
  source text: April 20, 2023, Legacy Housing Corporation (the “Company”) notified the NASDAQ Global Select Market (“NASDAQ”) that it no longer satisfies NASDAQ Listing Rule 5605(c)(2)(A), which requires, among other things, that the Company’s Audit Committee consist of at least three Independent Directors. Despite having resigned from the Audit Committee, Joseph P. Lane continues to serve on the Company’s Board as an Independent Director. The Company will appoint a new Independent Director to serve on the Audit Committee at or prior to the 2023 annual shareholders’ meeting, as is permitted under NASDAQ List
  evidence_url: https://www.sec.gov/Archives/edgar/data/1436208/000155837023006673/0001558370-23-006673-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.