Preheat the oven to 400°F (200°C).
Pat the chicken leg quarters dry with paper towels.
In a small bowl, mix together kosher salt, black pepper, smoked paprika, garlic powder, and dried thyme.
Rub the spice mixture evenly over both sides of the chicken leg quarters.
Heat olive oil in a large oven-safe skillet over medium-high heat.
Place the chicken leg quarters skin-side down in the skillet and sear for 5 to 7 minutes until the skin is golden brown and crispy.
Flip the chicken and cook for an additional 3 minutes on the other side.
Remove the chicken from the skillet and set aside.
Add sliced yellow onion, minced garlic, red bell pepper, and green bell pepper to the skillet. Sauté for 4 to 5 minutes until vegetables are slightly softened.
Pour in the chicken broth and stir to deglaze the skillet, scraping up any browned bits from the bottom.
Return the chicken leg quarters to the skillet, skin-side up, nestling them among the vegetables.
Transfer the skillet to the preheated oven and bake for 20 to 25 minutes, or until the internal temperature of the chicken reaches 165°F (74°C).
Remove the skillet from the oven and let the chicken rest for 5 minutes.
Sprinkle chopped fresh parsley over the chicken and vegetables before serving.