[Form 4] LiveWire Group, Inc. Insider Trading Activity

Rhea-AI Filing Summary

SEC Form 4 – LiveWire Group, Inc. (LVWR)

Head of Product Development & Design Ryan Ragland was granted 18,019 restricted stock units (RSUs) on 08/04/2025 at $0 cost. Each RSU converts to one common share and vests in three equal annual tranches beginning on the first anniversary of the grant; unvested units are forfeitable.

Following the award, Ragland directly owns 145,644 LVWR shares, of which 136,435 are unvested RSUs. No shares were sold and no derivative securities were involved. The filing, signed 08/06/2025, reflects routine equity compensation and results in only marginal dilution.

Insights

Securities Analyst

TL;DR — Routine RSU grant; neutral impact on valuation.

The 18,019-share award increases insider ownership by ~14% but remains immaterial relative to LiveWire’s float. No cash proceeds or sales signal align management incentives without immediate market impact. Neutral for equity valuation.

Corporate Governance Expert

TL;DR — Standard equity compensation; governance risk unchanged.

The three-year vesting schedule promotes retention and long-term alignment. Absence of 10b5-1 checkbox suggests discretionary grant but within normal practice. No red flags or governance concerns identified; impact classified as neutral.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Ragland Ryan

(Last) (First) (Middle)

3700 W JUNEAU AVENUE

(Street)

MILWAUKEE WI 53208

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
LiveWire Group, Inc. [ LVWR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Head of Product Dev. & Design

3. Date of Earliest Transaction (Month/Day/Year)
08/04/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/04/2025		A		18,019(1)	A	$0	145,644(2)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The transaction reported is a grant of restricted stock units. Each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock. One-third of the units granted vest on each of the first three anniversaries of the date of the grant. Units are subject to forfeiture until vested.

2. Includes 136,435 unvested restricted stock units with each unit representing the contingent right to receive one share of the Issuer's common stock upon vesting.

	/s/ Allen Gerrard, Attorney-in-Fact	08/06/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did LiveWire (LVWR) report on 08/06/2025?

The company disclosed that Ryan Ragland received 18,019 restricted stock units on 08/04/2025 at no cost.

How many LVWR shares does Ryan Ragland now beneficially own?

After the grant, he holds 145,644 shares, including 136,435 unvested RSUs.

At what price were the new RSUs granted to the LiveWire executive?

The RSUs were granted at $0; they are equity compensation, not open-market purchases.

When will the 18,019 RSUs awarded to Ragland vest?

They vest in three equal installments on each anniversary of 08/04/2025, fully vesting by 2028.

Did the filing report any sales of LiveWire shares by the insider?

No. The Form 4 shows no sales or disposals; only an acquisition via RSU grant.