Masood Rafeh 4

What Happened
Masood Rafeh, a director of Harley‑Davidson, was granted 11,207 stock units (derivative award) on May 21, 2026. The award is reported as an acquisition at $0.00 (a typical director compensation grant rather than a market purchase). The units are granted under the Harley‑Davidson, Inc. Director Stock Plan and represent rights to company common stock (derivative share units).

Key Details

• Transaction date: 2026-05-21; Filing date: 2026-05-26 (filed 5 days after the transaction; Form 4s are normally due within 2 business days, so this appears late).
• Grant amount: 11,207 stock units; reported acquisition price: $0.00.
• Nature: Award/Grant (derivative share units payable in common stock upon termination of service; convertible 1-for-1).
• Vesting/payment detail: Footnotes state each stock unit equals one common share; 6,250 of the units are payable on the one‑year anniversary of the grant or upon earlier termination of service. Some share units may be payable in cash in limited circumstances per the Plan.
• Shares owned after transaction: Not specified in the information provided.

Context
This was a compensation grant to a non‑employee director, not an open‑market purchase or sale. Such awards are routine for board service and do not by themselves indicate an insider buying or selling the stock for investment purposes. The units are derivative awards that convert to common shares (1-for-1) under the Director Stock Plan, with a portion subject to time‑based payable provisions.