Ronald Arrington
Legacy HousingAbout Ronald Arrington
Ronald C. Arrington, age 63, is Interim Chief Financial Officer of Legacy Housing Corporation (LEGH). He previously served as LEGH’s CFO from May 2022 to September 2023, returned as a Development Manager in September 2024, and was re-appointed Interim CFO effective October 10, 2025. Arrington holds a BBA from the University of Texas at Arlington and is a Certified Public Accountant, with 35+ years across aerospace, construction, manufacturing, and retail, emphasizing operational finance, financial management systems, restructuring, and process improvement . Company performance context during his recent tenure: net income was $67.773 million (2022), $54.460 million (2023), and $61.642 million (2024), while a $100 investment’s value ended at $71.63, $95.28, and $93.24, respectively—useful for benchmarking pay-versus-performance and TSR trends .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Legacy Housing Corporation | Chief Financial Officer | May 2022 – Sep 2023 | Oversaw financial operations, accounting systems, policies, and financial reporting . |
| Legacy Housing Corporation | Development Manager (communities) | Sep 2024 – Oct 2025 | Managed mobile home community development; positioned for leadership transition . |
| Legacy Housing Corporation | Interim Chief Financial Officer | Oct 2025 – Present | Principal financial and accounting officer during leadership realignment . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| XIT Paving & Construction | Controller | May 2021 – May 2022 | Led financial controls and processes in construction sector . |
| Dave & Buster’s Inc. | Contract Consultant | Oct 2023 – Jul 2024 | Provided CFO-level advisory; operational finance and systems expertise . |
| Fabulous Floors | Contract Consultant | Oct 2023 – Jul 2024 | Transactional/process improvement consulting support . |
Fixed Compensation
| Year | Salary ($) | Bonus ($) | Stock Awards ($) | Option Awards ($) | All Other ($) | Total ($) |
|---|---|---|---|---|---|---|
| 2022 | 125,385 | 10,000 | — | — | — | 135,385 |
- LEGH’s executive cash pay structure is base salary plus discretionary bonus; the company does not maintain a formal compensation plan .
- Compensation details for Arrington’s 2025 interim appointment were not disclosed in the 8-K or proxy filings reviewed .
Performance Compensation
| Instrument | Grant Date | Quantity | Strike/Grant Price | Vesting | Expiration | Notes |
|---|---|---|---|---|---|---|
| Stock Options | Jun 7, 2022 | 62,460 | $16.01 | 10% annually starting Jun 7, 2023 until 2032 | Jun 7, 2032 | Unvested options expired upon his departure on Sep 12, 2023 . |
- Company commentary: annual compensation is base plus discretionary bonus; equity historically long-term to align management with stockholders .
- No performance metric weights, targets, or PSU/RSU frameworks specific to Arrington were disclosed; LEGH states no formal compensation plan .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total beneficial ownership | 0 shares as of Oct 26, 2023 (less than 1%) . |
| Options (as of Dec 31, 2022) | 62,460 unvested (10% annual vesting commencing Jun 7, 2023) . |
| Options status | Remaining unvested options expired at his Sep 12, 2023 departure . |
| Hedging/pledging policy | As of 2023, no adopted policy restricting hedging; no pledging disclosures specific to Arrington found . |
| Ownership guidelines | Not disclosed in reviewed filings. |
Implications:
- With no disclosed share ownership and expired unvested options post-2023 departure, near-term insider selling pressure tied to Arrington is low absent new grants .
- Clawback policy (Dec 2023) strengthens alignment and risk control over incentive compensation .
Employment Terms
- Interim CFO Appointment: Effective October 10, 2025; no special arrangements or related party transactions; no family relationships with directors/officers disclosed .
- Clawback: Executive compensation clawback adopted in December 2023 for incentive pay upon accounting restatement or specified clawback events .
- Incentive Plan (2018): Committee may accelerate vesting/exercisability at change in control; performance goals for performance awards may be deemed met upon change in control if provided in award agreements .
- Non-compete/Non-solicit: Not disclosed for Arrington; CFO agreements for other executives exist, but terms should not be assumed to apply to Arrington without disclosure .
- Severance/COC economics: No Arrington-specific severance terms disclosed in reviewed filings .
Investment Implications
- Pay-for-performance: LEGH’s discretionary bonus framework with no formal plan reduces transparency of metric alignment; equity use is long-term but Arrington’s 2022 options were time-based, not performance-based .
- Retention risk: Interim status implies transition risk until a permanent CFO is appointed; absence of disclosed interim compensation terms complicates retention assessment .
- Trading signals: Arrington had no reported share ownership as of Oct 2023 and unvested options expired, suggesting limited direct selling overhang absent new awards; leadership transitions in Oct 2025 may catalyze governance/strategy shifts .
- Governance/risk: Clawback adoption is a positive control; however, the absence of hedging restrictions as of 2023 and historical material weaknesses in internal control (2022–mid-2023) elevate execution risk during finance function leadership changes .
- Performance backdrop: Net income volatility (down in 2023, up in 2024) and TSR dipping in 2024 provide mixed context for incentive outcomes and investor expectations during Arrington’s interim oversight .