Ryan Ragland
About Ryan Ragland
Ryan Ragland, 49, serves as Head of Product Development & Design at LiveWire, appointed to the role in late 2024 (proxy notes September 30, 2024 for compensation changes; the 10-K describes appointment in November 2024) . He co-founded STACYC in 2016 (first electric balance bike), led STACYC as CEO and Chief of Brand & Product after Harley-Davidson acquired it in 2019, and holds a B.S. in Mechanical Engineering from San Diego State University . As an NEO, his 2024 incentive metrics emphasized operational levers—LiveWire unit sales and cash burn (25% of his STIP weighting) and STACYC unit sales and SG&A expense (75%)—directly linking pay to product execution and expense control . Companywide, management highlighted reductions in LiveWire operating losses and cash burn during 2025, reinforcing a focus on financial discipline consistent with STIP design .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| LiveWire Group, Inc. | Head of Product Development & Design | Appointed late 2024 | Leads product and design strategy for innovation across LiveWire portfolio |
| STACYC (acquired by Harley-Davidson in 2019) | Co-founder; later CEO and Chief of Brand & Product | Co-founded 2016; leadership post-2019 acquisition | Introduced first electric balance bike; scaled youth electric category |
| Rev.1 Engineering | Principal Engineer | Not disclosed | Contributed to medical device advancements (engineering leadership) |
| KTM North America, Inc. | R&D and product testing leadership roles | Not disclosed | Managed R&D programs and advanced product testing strategies |
External Roles
No external public-company directorships or committee roles for Mr. Ragland were disclosed in the company’s 2024 10-K executive section or the 2025 proxy filings reviewed .
Fixed Compensation
| Metric | 2024 |
|---|---|
| Base Salary (annual rate) | $300,000 (increased from $250,000 upon appointment) |
| Salary Earned (partial year) | $261,538 |
| STIP Target (as % of base) | 40% of base salary |
| STIP Actual Payout | $97,252 |
| All Other Compensation (401k match/retirement contributions) | $32,924 |
| Perquisites / Tax Gross-Ups | Company provided no perquisites and no tax gross-ups in 2024 |
Performance Compensation
Short-Term Incentive Plan (STIP) – 2024
| Executive | Metric | Weighting | Target | Actual | Payout |
|---|---|---|---|---|---|
| Ryan Ragland | LiveWire unit sales | 12.5% (half of 25%) | Aligned to publicly provided unit sales guidance (numeric targets not disclosed) | Not disclosed | $97,252 (total STIP cash payout) |
| Ryan Ragland | LiveWire cash burn | 12.5% (half of 25%) | Manage cash burn (numeric targets not disclosed) | Not disclosed | $97,252 (total STIP cash payout) |
| Ryan Ragland | STACYC unit sales | 37.5% (half of 75%) | Growth vs guidance (numeric targets not disclosed) | Not disclosed | $97,252 (total STIP cash payout) |
| Ryan Ragland | STACYC SG&A expense | 37.5% (half of 75%) | Expense control (numeric targets not disclosed) | Not disclosed | $97,252 (total STIP cash payout) |
Notes:
- Committee retained discretion to adjust results for unforeseen events but applied none for 2024 .
Long-Term Incentive Plan (LTIP) – 2024 Grants
| Component | Grant Date | Form | Grant-Date Fair Value | Vesting |
|---|---|---|---|---|
| Annual equity | Feb 19, 2024 | RSUs | $150,009 | 1/3 on each of first three anniversaries of the grant date, subject to service |
Equity Ownership & Alignment
| Item | Value |
|---|---|
| Beneficial Ownership (as of Mar 24, 2025) | 16,100 shares; “*” (less than 1%) |
| Shares Outstanding Basis | 203,566,228 shares outstanding as of Mar 24, 2025 |
| Unvested RSUs (12/31/2024) | 36,330 units; $174,747 market value (year-end price basis) |
| Unearned Performance Shares (12/31/2024) | 13,082 units; $62,924 market value at threshold (avg. share-price metric through Dec 2025) |
| Options (exercisable/unexercisable) | None disclosed; company only issued RSUs/PSUs as of 12/31/2024 |
| Pledging/Hedging | Prohibited by policy (short sales, options, derivatives, hedging, pledging, margin) |
| Any Shares Pledged | “To our knowledge, no shares … have been pledged as security” (officers and directors) |
Detailed Vesting Schedule (Outstanding at 12/31/2024)
| Award Type | Vesting Date | Shares |
|---|---|---|
| RSU | Dec 2025 | 5,814 |
| RSU | Feb 2025 | 6,840 |
| RSU | Feb 2026 | 6,840 |
| Performance Shares | Dec 2025 | 26,163 (performance based on average share price; threshold shown) |
| Performance Shares | Feb 2025 | 5,612 (performance-based; see footnote on threshold disclosure) |
| Performance Shares | Feb 2026 | 5,612 (performance-based; see footnote on threshold disclosure) |
| Performance Shares | Feb 2027 | 5,612 (performance-based; see footnote on threshold disclosure) |
Footnotes:
- PSUs are earned based on the Company achieving a specified average share price during the performance period ending December 2025; shares/values shown based on threshold as threshold had not been achieved as of 12/31/2024 .
Employment Terms
| Term | Summary |
|---|---|
| Employment Agreement | No individual compensatory agreement for Mr. Ragland (same for Ms. Maraj and Mr. Strader) |
| 2024 Base Salary | $300,000 (raised from $250,000 upon appointment as Head of Product Development & Design) |
| STIP Target Opportunity | 40% of base salary |
| LTIP Design | RSUs under 2022 Incentive Award Plan; annual grant vests 1/3 per year |
| Severance Plan (general) | For NEOs other than CEO/President: 6 months’ base salary; pro-rated STIP based on actual results; 6 months’ benefits; $10,000 outplacement, subject to restrictive covenants and release |
| Severance – Mr. Ragland specific | Company agreed Mr. Ragland retains prior STACYC severance: 12 months’ base salary and 12 months’ benefits (instead of 6), plus other plan benefits; restrictive covenants (confidentiality, non-solicit, non-compete, non-disparagement) apply |
| Change-in-Control | No special CIC multiple disclosed for Mr. Ragland; plan includes 280G cutback if beneficial (reduce to avoid excess parachute payments if within 110% after-tax threshold) |
| Clawback | Applies to all employees including covered officers; recovery of excess incentive-based compensation in event of accounting restatement per SEC rules |
| Insider Trading / Hedging / Pledging | Policy prohibits hedging, pledging, options/derivatives, margin purchases; trading windows and pre-clearance required |
| Perquisites / Gross-ups | No perquisites; no tax gross-ups in 2024 |
Investment Implications
- Pay-for-performance alignment and operational focus: Ragland’s STIP weighting is 75% tied to STACYC (unit sales and SG&A) and 25% tied to LiveWire unit sales and cash burn, directly linking cash pay to growth and expense/cash discipline in his sphere of influence . This design should incentivize execution on youth/e-mobility product strategy while containing corporate cash burn .
- Retention risk appears moderate: He has a standard RSU vesting schedule with multiple 2025–2027 tranches and a favorable severance construct (12 months’ salary and benefits vs. 6 months for other non-CEO/President NEOs), which reduces flight risk during LiveWire’s restructuring/prioritization phase .
- Insider selling pressure near-term: Multiple vesting events in February and December 2025 (and subsequent Februaries) could create liquidity windows; however, ownership is relatively small (16,100 shares; <1%), and the anti-hedging/anti-pledging policy plus pre-clearance requirements moderate opportunistic selling risk .
- Equity alignment is present but modest: Unvested equity (36,330 RSUs; 13,082 PSUs at threshold) provides alignment, though absolute beneficial ownership is de minimis versus shares outstanding; policy prohibits pledging, and company states to its knowledge no officer/director shares are pledged .
- Governance and protections: Clawback policy compliant with SEC rules and broad restrictive covenants for severance eligibility provide downside protection for shareholders in case of restatements or post-employment competition risks .
Citations:
- Proxy (DEF 14A, 2025-04-03):
- 10-K (FY 2024, filed 2025-02-21):
- Earnings call transcripts (context on LiveWire discipline):