Masood Rafeh 4

What Happened
Masood Rafeh, a director of Harley‑Davidson, exercised/converted derivative awards to acquire 6,015 shares of common stock on May 14, 2026 (recorded at $0.00 per share). The Form 4 also shows a corresponding disposition of 6,015 derivative units on the same date (both entries reported with $0.00 consideration). This was a conversion/exercise of director awards under the company plan, not an open‑market purchase or sale for cash.

Key Details

• Transaction date: 2026-05-14 (reported on Form 4 filed 2026-05-18; filing appears late).
• Reported price/consideration: $0.00 per share (no cash paid).
• Shares involved: 6,015 shares acquired via exercise/conversion; 6,015 shares shown as disposed (derivative entry).
• Holdings after transaction: not specified in the provided data.
• Relevant footnotes:
  • F1: Awards granted under the Harley‑Davidson Director Stock Plan (as amended).
  • F2: 1‑for‑1 conversion.
  • F3: Includes shares acquired through automatic dividend reinvestment (where applicable).
  • F4: Each Stock Unit equals one share; shares are payable on the one‑year anniversary of the grant or upon earlier termination of service.
• Transaction code: M = exercise/conversion of a derivative.

Context
This filing documents a conversion/exercise of director stock units—an administrative action that converts previously granted units into shares. It is not a routine cash purchase or a market sale that would more directly signal sentiment. Note the Form 4 was filed after the transaction date (filed 2026-05-18 for a 2026-05-14 transaction), which appears to be late relative to the usual 2‑business‑day Form 4 reporting requirement.