XML 30 R19.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

SHARE-BASED COMPENSATION | 3 Months Ended
--- | ---
Mar. 31, 2024
SHARE-BASED COMPENSATION |
SHARE-BASED COMPENSATION | 13. SHARE-BASED COMPENSATION Pursuant to the Legacy Housing Corporation 2018 Incentive Compensation Plan (the “Plan”), the Company may issue up to 10.0 million equity awards to employees, directors, consultants and nonemployee service providers in the form of stock options, stock, restricted stock and stock appreciation rights. Stock options may be granted with a contractual life of up to ten years. At March 31, 2024, the Company had 8.7 million shares available for grant under the Plan. Restricted Stock The following is a summary of restricted stock award activity for the year ended December 31, 2023 and the three months ended March 31, 2024 (number of units in thousands except per unit data):
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Number of Units | ​ | ​ | Weighted Average Grant Date Fair Value Per Unit
Nonvested, January 1, 2023 | ​ | 42 | ​ | $ | 6.93
Granted | ​ | 1 | ​ | $ | 23.26
Vested | ​ | (18) | ​ | $ | 14.98
Canceled | ​ | (17) | ​ | $ | 13.63
Nonvested, December 31, 2023 | ​ | 8 | ​ | $ | 17.09
​ | ​ | ​ | ​ | ​ | ​
Nonvested, January 1, 2024 | ​ | 8 | ​ | $ | 17.09
Granted | ​ | - | ​ | $ | -
Vested | ​ | - | ​ | $ | -
Canceled | ​ | - | ​ | $ | -
Nonvested, March 31, 2024 | ​ | 8 | ​ | $ | 17.09
​ As of March 31, 2024, approximately 8,000 shares of restricted stock remained unvested. Unrecognized compensation expense related to these restricted stock awards at March 31, 2024 was $42 and is expected to be recognized over 0.4 years. Compensation expense for restricted stock awards for the three months ended March 31, 2024 and 2023 was $37 and $66, respectively. Stock Options The following is a summary of option award activity for the year ended December 31, 2023 and the three months ended March 31, 2024 (number of units in thousands except per unit data):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Number of Units |  | Weighted Average Exercise Price Per Unit |  | Weighted Average Grant Date Fair Value Per Unit |  | Weighted Average Remaining Contractual Life (years) |  | Aggregate Intrinsic Value
Outstanding, January 1, 2023 | ​ | 1,025 | ​ | $ | 40.59 | ​ | $ | 4.99 | ​ | 9.44 | ​ | ​ | ​
Granted | ​ | 43 | ​ | $ | 22.94 | ​ | $ | 15.32 | ​ | 4.70 | ​ | ​ | ​
Exercised | ​ | (6) | ​ | $ | 16.01 | ​ | $ | 8.57 | ​ | — | ​ | ​ | ​
Forfeited | ​ | (56) | ​ | $ | 16.01 | ​ | $ | 8.57 | ​ | — | ​ | ​ | ​
Outstanding, December 31, 2023 | ​ | 1,006 | ​ | $ | 41.35 | ​ | $ | 5.22 | ​ | 8.28 | ​ | $ | ​
Exercisable, December 31, 2023 | ​ | 96 | ​ | $ | 42.18 | ​ | $ | 4.76 | ​ | 8.44 | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Outstanding, January 1, 2024 | ​ | 1,006 | ​ | $ | 41.35 | ​ | $ | 5.22 | ​ | 8.28 | ​ | ​ | ​
Granted | ​ | — | ​ | $ | — | ​ | $ | — | ​ | - | ​ | ​ | ​
Exercised | ​ | (6) | ​ | $ | 16.01 | ​ | $ | 8.57 | ​ | — | ​ | ​ | ​
Forfeited | ​ | — | ​ | $ | - | ​ | $ | - | ​ | — | ​ | ​ | ​
Outstanding, March 31, 2024 | ​ | 1,000 | ​ | $ | 41.51 | ​ | $ | 5.20 | ​ | 8.03 | ​ | $ | ​
Exercisable, March 31, 2024 | ​ | 90 | ​ | $ | 44.00 | ​ | $ | 4.49 | ​ | 8.44 | ​ | $ | —
​ As of March 31, 2024, approximately 910,000 options remained nonvested. Unrecognized compensation expense related to these options at March 31, 2024 was $4,332 and is expected to be recognized over 8.0 years. Compensation expense for stock option awards for the three months ended March 31, 2024 and 2023 was $147 and $126, respectively. ​

X
- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//718/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2)(i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (l) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration