Koval Glen 4

What Happened

• Glen Koval, SVP Motorcycle Development at Harley‑Davidson (HOG), converted derivative awards into 6,263 shares of common stock between Feb 5–9, 2026. To satisfy tax withholding obligations, 2,338 of those shares were surrendered (disposed) for a total withholding value of $47,212. Net shares added to his position from these transactions were 3,925 shares.
• The conversions are recorded as "M" (exercise/conversion of derivative) at $0.00 per share (typical for conversion of restricted stock units), and the share surrenders to cover taxes are recorded as "F" (payment of exercise price or tax liability) at average prices of about $20.01–$20.51 per share.

Key Details

• Transaction dates and amounts:
  • Feb 5, 2026: Converted 1,366 derivatives; 510 shares withheld at $20.51 = $10,460.
  • Feb 6, 2026: Converted 3,929 derivatives; 1,466 shares withheld at $20.01 = $29,335.
  • Feb 9, 2026: Converted 968 derivatives; 362 shares withheld at $20.49 = $7,417.
• Total converted: 6,263 shares. Total shares withheld/disposed for taxes: 2,338 shares for $47,212. Net increase: 3,925 shares.
• Shares owned after the transactions: not specified in the provided filing excerpt.
• Footnotes: F2 indicates each restricted stock unit (RSU) converts into one share and vests over three years (one‑third each year); F1 pertains to 401(k) plan balance in the filing. The "F" code denotes tax withholding—routine, not an open‑market sale.
• Filing timeliness: The Form 4 was filed Feb 9, 2026 reporting transactions Feb 5–9; the filing does not indicate it was late.

Context

• This appears to be conversions of equity awards (likely vested RSUs) with shares withheld to cover tax obligations—commonly a cashless settlement/withholding rather than an affirmative open‑market sale. Such withholding transactions are routine and typically reflect standard payroll/tax procedures rather than an active decision to sell shares for investment reasons.