<SEC-DOCUMENT>0001104659-25-038736.txt : 20250424
<SEC-HEADER>0001104659-25-038736.hdr.sgml : 20250424
<ACCEPTANCE-DATETIME>20250424171021
ACCESSION NUMBER:		0001104659-25-038736
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20250424
DATE AS OF CHANGE:		20250424

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HARLEY-DAVIDSON, INC.
		CENTRAL INDEX KEY:			0000793952
		STANDARD INDUSTRIAL CLASSIFICATION:	MOTORCYCLES, BICYCLES & PARTS [3751]
		ORGANIZATION NAME:           	04 Manufacturing
		EIN:				391382325
		STATE OF INCORPORATION:			WI
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09183
		FILM NUMBER:		25868855

	BUSINESS ADDRESS:	
		STREET 1:		3700 W JUNEAU AVE
		CITY:			MILWAUKEE
		STATE:			WI
		ZIP:			53208
		BUSINESS PHONE:		414-343-8553

	MAIL ADDRESS:	
		STREET 1:		3700 W. JUNEAU AVE
		CITY:			MILWAUKEE
		STATE:			WI
		ZIP:			53208

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HARLEY DAVIDSON INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
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<TYPE>DEFA14A
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<FILENAME>tm2512731d5_defa14a.htm
<DESCRIPTION>DEFA14A
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WASHINGTON, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE 14A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Proxy Statement Pursuant to Section&nbsp;14(a)&nbsp;of
the</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Amendment No.&nbsp;)</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filed
by the Registrant&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filed by a Party other than the Registrant&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Check the appropriate box:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Preliminary Proxy Statement</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Confidential, for Use of the Commission Only (as permitted by Rule&nbsp;14a-6(e)(2))</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Definitive Proxy Statement</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT> Definitive Additional Materials</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">Soliciting Material Pursuant to Section&nbsp;240.14a-12</FONT></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Harley-Davidson,&nbsp;Inc.</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Name of Registrant as Specified In Its Charter)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

<P STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><B>(Name of Person(s)&nbsp;Filing
Proxy Statement, if other than the Registrant)</B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Payment of Filing Fee (Check all boxes that apply):</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No fee required</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fee paid previously with preliminary materials</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fee computed on table in exhibit required by Item 25(b)&nbsp;per Exchange Act Rules&nbsp;14a-6(i)(1)&nbsp;and 0-11</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On April&nbsp;24, 2025, Harley-Davidson,&nbsp;Inc.
(&ldquo;Harley-Davidson&rdquo;) issued a media statement in connection with its upcoming 2025 annual meeting of shareholders. A copy of
the media statement is attached hereto as <U>Exhibit&nbsp;1</U>.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><A HREF="tm2512731d5_ex1.htm">EXHIBIT&nbsp;1</A></P>

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<FILENAME>tm2512731d5_ex1.htm
<DESCRIPTION>EXHIBIT 1
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Exhibit 1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Harley-Davidson Media Statement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">April&nbsp;24, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #212121">H Partners has had a voice inside the Harley-Davidson
Boardroom through one of its executives sitting on the board for the past three years. That executive, until recently, supported the current
CEO and voted in favor of all current Directors standing for re-election. After H Partners' preferred CEO candidate failed to earn Board
support, rather than engage constructively with the Board, H Partners disclosed Board confidential information and resorted to a misleading
campaign that we believe is destructive to the interests of all shareholders. It also shows that H Partners cannot be trusted to appoint
effective directors accountable to all shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #212121">Our Board's comprehensive and well-defined CEO search
process has been underway for months &ndash; we are committed to finding a leader who combines the right experience, skills, vision and
an understanding of Harley-Davidson&rsquo;s brand and culture, to work with the Board and guide the Company through its continued transformation
and next phase of growth.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Cautionary Note Regarding Forward-Looking Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This communication contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. All statements in this communication that do not relate to matters of historical
or current fact should be considered forward-looking statements, including without limitation statements regarding expectations regarding
future results of operations and financial position of Harley-Davidson,&nbsp;Inc. (&ldquo;Harley-Davidson&rdquo; or the &ldquo;Company&rdquo;)
and the Company&rsquo;s CEO search process. These forward-looking statements are based on information available to the Company as of the
time the statements are made as well as the Company&rsquo;s current expectations, assumptions, estimates and projections and are subject
to certain risks and uncertainties that are likely to cause actual results to differ materially, unfavorably or favorably, from those
anticipated. These forward-looking statements can generally be identified by the use of forward-looking terminology, including the terms
 &ldquo;believes,&rdquo; &ldquo;anticipates,&rdquo; &ldquo;expects,&rdquo; &ldquo;plans,&rdquo; &ldquo;projects,&rdquo; &ldquo;may,&rdquo;
 &ldquo;will,&rdquo; &ldquo;estimates,&rdquo; &ldquo;targets,&rdquo; &ldquo;intends,&rdquo; &ldquo;forecasts,&rdquo; &ldquo;seeks,&rdquo;
 &ldquo;sees,&rdquo; &ldquo;should,&rdquo; &ldquo;feels,&rdquo; &ldquo;commits,&rdquo; &ldquo;assumes,&rdquo; &ldquo;envisions,&rdquo;
or, in each case, their negative or other variations or comparable terminology, or words of similar meaning. Certain of such risks and
uncertainties are described below, and others are listed in Part&nbsp;I,&nbsp;Item 1A. Risk Factors and in Part&nbsp;II,&nbsp;Item 7.
Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations, of the Company&rsquo;s Annual Report on Form&nbsp;10-K
for the year ended December&nbsp;31, 2024 filed with the Securities and Exchange Commission (the &ldquo;SEC&rdquo;) on February&nbsp;26,
2025, and in the Company&rsquo;s other subsequent reports filed with the SEC, including, among others, Quarterly Reports on Form&nbsp;10-Q.
Shareholders, potential investors, and other readers should consider these factors in evaluating, and should not place undue reliance
on, the forward-looking statements. Such forward-looking statements speak only as of the date they are first made through this communication,
and the Company disclaims any obligation to publicly update or revise any forward-looking statements after such time, whether as a result
of new information, future events or otherwise, except as may be required under applicable securities laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Factors that may impact such forward-looking statements include, but
are not limited to, risks and uncertainties regarding the Company&rsquo;s ability to execute its business plans and strategies, including
without limitation the Hardwire strategic plan; manage supply chain and logistics issues; manage the impact, and predict potential further
impacts, of new, reinstated or adjusted tariffs on the Company; accurately analyze, predict and react to changing market conditions, interest
rates, and geopolitical environments, and successfully adjust to shifting global consumer needs and interests; maintain and enhance the
value of the Harley-Davidson brand; manage through changes in general economic and business conditions; develop and successfully introduce
products, services and experiences; realize the expected business benefits from LiveWire operating as a separate business of the Company;
and retain and attract talented employees and leadership; and uncertainties regarding actions that have been taken and may in the future
be taken by H Partners Management, LLC in furtherance of its campaign relating to the Company&rsquo;s 2025 annual meeting of shareholders
and potential costs and management distraction attendant thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Additional Information Regarding the 2025 Annual Meeting of Shareholders
and Where to Find It</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Harley-Davidson has filed its definitive proxy statement, containing
a form of <B><U>WHITE</U></B> proxy card, and a proxy statement supplement, with the SEC with respect to its solicitation of proxies for
the 2025 annual meeting of shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">INVESTORS AND SHAREHOLDERS ARE STRONGLY URGED TO READ CAREFULLY AND
IN THEIR ENTIRETY THE PROXY STATEMENT (AS SUPPLEMENTED AND INCLUDING ANY OTHER AMENDMENTS OR SUPPLEMENTS THERETO) AND ACCOMPANYING PROXY
CARD FILED BY HARLEY-DAVIDSON AND ANY OTHER RELEVANT DOCUMENTS TO BE FILED WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN
IMPORTANT INFORMATION ABOUT ANY SOLICITATION.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Investors and shareholders may obtain copies of these documents and
other documents filed with the SEC by Harley-Davidson free of charge through the website maintained by the SEC at www.sec.gov. Copies
of the documents filed by Harley-Davidson are also available free of charge by accessing Harley-Davidson&rsquo;s website at https://investor.harley-davidson.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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