Form 4: LiveWire Group Director Cornog Receives Stock and Restricted Stock Units

Director William L. Cornog of LiveWire Group, Inc. received shares of common stock and restricted stock units, increasing his holdings in the company.

Summary

• On May 16, 2024, William L. Cornog, a director of LiveWire Group, Inc., was granted 18,969 restricted stock units, each representing a contingent right to receive one share of the company's common stock.
• These restricted stock units will vest on the earlier of the next annual meeting of stockholders or the anniversary of the grant date, contingent upon the director's continued service.
• On May 17, 2024, Cornog also received 11,888 shares of LiveWire Group's common stock in lieu of an annual cash retainer, priced at $6.73 per share.
• Following these transactions, Cornog's direct ownership in LiveWire Group's common stock increased to 115,379 shares.

Sentiment

Score: 7

Explanation: The document reflects standard compensation practices, indicating stability and alignment of interests, which is generally viewed positively.

Positives

• The grant of restricted stock units and common stock to a director aligns their interests with the long-term performance of the company.
• The receipt of common stock in lieu of a cash retainer reduces the company's immediate cash outflow.

Industry Context

This type of equity compensation is common for directors of publicly traded companies, aligning their interests with shareholders.

Comparison to Industry Standards

• Equity grants to directors are a standard practice in publicly listed companies like LiveWire Group.
• Companies such as Harley Davidson, Polaris, and BRP Group also use similar compensation methods to align director and shareholder interests.
• The amount of equity granted is generally benchmarked against companies of similar size and industry.

Stakeholder Impact

• Shareholders may view the equity grants positively as they align the director's interests with the company's performance.
• The company benefits from reduced cash outflow by issuing stock in lieu of a cash retainer.

Key Dates