LiveWire Group, Inc.

Item 5. Other Information

None of our directors or executive officers adopted orterminated a Rule 10b5-1 trading arrangement or a non-Rule 10b5-1 trading arrangement (as defined in Item 408(c) of Regulation S-K) during the three months ended June 30, 2026.

On August 4, 2026, the Human Resources Committee of the Board of Directors (the “Board”) of LiveWire Group, Inc. (the “Company”), upon review of market practices in consultation with its independent compensation consultant and upon recommendation for approval by the Conflicts Committee of the Company’s Board, approved revisions to its Executive Severance Plan and restricted stock units for executive officers, to ensure that the plan and agreements continue to achieve their objectives of attracting, retaining and incentivizing the Company’s executive officers. The Executive Severance Plan was revised to (i) increase the severance benefits in the event of an involuntary termination without cause unrelated to a change in control to 18 months of base salary (up from 12 months) for the Chief Executive Officer and 12 months of base salary (up from 6 months) for other executive officers and (ii) provide enhanced severance, equal to 24 months of base salary plus two times target annual cash incentive for the Chief Executive Officer and 18 months of base salary plus one and one-half times target annual cash incentive for the other executive officers, in the event of an involuntary termination without cause or termination for good reason occurring 90 days before to two years after a change in control. The revisions also provide that the acquisition of 100% of the stock of the Company by H-D would not constitute a change in control for purposes of this provision, other than with respect to the Company’s current Chief Executive Officer.

The restricted stock units held by the Company’s executive officers were also amended to provide for acceleration of unvested units in the event of an involuntary termination without cause or termination for good reason occurring two years after a change in control, with the same changes to the change in control definition described above for the Executive Severance Plan. The changes reflected in this amendment will also be included in the restricted stock unit agreements granted to executive officers going forward.