Harley Davidson - HOG STOCK NEWS

Harley-Davidson has released two presentations defending against claims made by investor H Partners, urging shareholders to vote "FOR ALL" company nominees at the May 14, 2025 Annual Meeting. The company highlights its Board's oversight of the Hardwire strategic plan and recent performance, including:

• 13% operating margins (2022-2024), ~4 points above peer median
• 70% free cash flow to EBITDA ratio, twice the peer median
• 25% reduction in share count over three years
• $1.4 billion returned to shareholders since 2022
• 14% increase in dividend from $0.63 to $0.72

The dispute centers on CEO succession after Jochen Zeitz expressed interest in retiring. H Partners' preferred CEO candidate failed to gain majority Board support. The company criticizes H Partners' campaign as destructive, noting that their Board representative supported management decisions for three years before abruptly resigning. Harley-Davidson defends its peer group selection and governance practices while questioning H Partners' motives.

H Partners, owning 9.1% of Harley-Davidson shares, has issued a rebuttal presentation challenging claims made in the company's April 25, 2025 investor presentation. The investment firm is leading a campaign urging shareholders to vote "WITHHOLD" on three incumbent directors at the upcoming Annual Meeting on May 14, 2025.

The targeted directors include:

• CEO and Chairman Jochen Zeitz
• Presiding Director Thomas Linebarger
• 29-year director Sara Levinson

H Partners alleges poor performance, weak execution, flawed corporate governance, and substantial value destruction under current leadership. The firm has launched a website, www.FreeTheEagle.com, where shareholders can access the rebuttal presentation and campaign materials. Shareholders can vote using either the company's WHITE proxy card or H Partners' BLUE proxy card, with the latest dated vote counting.

Purple Chip Capital announces support for H Partners' campaign for change at Harley Davidson (NYSE:HOG) and plans to withhold votes for CEO/Chairman Jochen Zeitz and Directors Thomas Linebarger and Sara Levinson at the 2025 Annual Meeting.

The investment firm criticizes the current board for:

• Neglecting Harley's distinctive culture and dealer network
• Shifting focus to online sales
• Introducing off-brand product lines
• Launching the "misguided" electric Livewire bikes
• Using lower-quality plastic parts instead of chrome, steel, and leather

Purple Chip Capital advocates for:

• Strengthening dealer partnerships
• Discontinuing the Livewire electric line
• Reintroducing the Sportster 883 as an entry-level motorcycle
• Returning to high-quality materials and parts
• Refocusing on attracting next-generation riders

H Partners Management, owning approximately 9.1% of Harley-Davidson (NYSE: HOG), has filed a definitive proxy statement urging shareholders to vote 'WITHHOLD' on three incumbent directors at the 2025 Annual Meeting. The targeted directors are CEO & Chairman Jochen Zeitz, Presiding Director Thomas Linebarger, and 29-year director Sara Levinson.

The investment firm highlights three key concerns:

• Poor Performance: HOG's Total Shareholder Returns have underperformed under Zeitz's five-year leadership
• Weak Execution: The Hardwire Strategic Plan has failed to deliver profitable growth, evidenced by declining Operating Income
• Flawed Corporate Governance: Shareholder-unfriendly practices and ineffective oversight have enabled value destruction

H Partners seeks to reconstitute the Board to unlock shareholder value and restore the company's position.

H Partners Management, owning approximately 9.1% of Harley-Davidson (NYSE: HOG), has released a presentation calling for urgent leadership changes at the company. The investment firm is urging shareholders to vote 'WITHHOLD' on CEO & Chairman Jochen Zeitz, Presiding Director Thomas Linebarger, and 29-year director Sara Levinson at the 2025 Annual Meeting scheduled for May 14, 2025.

The campaign, detailed at www.FreeTheEagle.com, criticizes the current leadership for shareholder value destruction, weak execution, and poor governance. H Partners, which holds 11,300,000 shares, aims to remove the entrenched directors and advocates for appointing a new, external CEO to repair stakeholder relationships, strengthen the brand, and revitalize Harley-Davidson.

Harley-Davidson (NYSE: HOG) has announced it will release its first quarter 2025 financial results on Thursday, May 1, 2025, before market hours. The company will host an audio webcast conference call from 8-9 a.m. CT, where senior management will discuss financial results, business developments, and outlook updates.

Participants are advised to register at least 10 minutes before the start time. A supporting slide presentation will be available on the investor relations website, and a replay will be accessible approximately two hours after the call concludes.

H Partners Management, owning 9.1% of Harley-Davidson (NYSE: HOG), has launched a withhold campaign targeting three directors at the 2025 Annual Meeting. The campaign aims to remove CEO & Chairman Jochen Zeitz, Presiding Director Thomas Linebarger, and 29-year director Sara Levinson.

The activist investor cites severe concerns including:

• Poor stock performance: HOG has underperformed the S&P 500 by 104% and S&P 400 Consumer Discretionary Index by 81% since Zeitz's appointment in February 2020
• Approximately $1.8 billion decline in market value
• Dealer sentiment near decade-long low
• Absentee CEO leadership
• Lack of board oversight and transparency

H Partners is calling for Zeitz's immediate removal as CEO, installation of an interim internal leader, and the appointment of a new external CEO. The firm has launched www.FreeTheEagle.com to provide campaign updates.

Harley-Davidson (NYSE: HOG) has announced that its Board of Directors is conducting a CEO search process following current CEO Jochen Zeitz's expression of interest to retire in 2025. The search was initiated in Q4 2024 with a leading executive search firm.

Zeitz, who will have completed five years as CEO, will remain in position until a suitable successor is appointed to ensure a smooth transition. The Board acknowledged his significant contributions, including the implementation of the Hardwire five-year strategic plan (2021-2025), brand reinvigoration, and leadership during challenging operational periods.

Harley-Davidson maintains controlling interest in LiveWire Group, the first publicly traded all-electric motorcycle company in the US, focusing on urban adventure and electric mobility innovation.

Harley-Davidson (NYSE: HOG) has announced its participation in Citi's 2025 Global Consumer & Retail Conference on March 11, 2025, at the JW Marriott Miami Turnberry Resort & Spa in Aventura, Florida. Chief Financial Officer and President of Commercial Jonathan Root and Investor Relations Director Shawn Collins will engage in one-on-one and group sessions.

The company, founded in 1903, maintains its position as a leading motorcycle brand focusing on innovation, evolution, and emotion. Beyond manufacturing motorcycles, Harley-Davidson provides financing through Harley-Davidson Financial Services and has expanded into the electric vehicle market through its controlling interest in LiveWire Group, America's first publicly traded all-electric motorcycle company.