Ford Motor Co. CEO James Farley Jr. has sold 16,205 shares of Harley-Davidson Inc. stock for a market value of $392,971.
That’s according to a June 4 filing with the U.S. Securities and Exchange Commission.
This isn’t the first time Farley has sold shares of Harley-Davidson stock. On Feb. 25, he sold 6,454 shares of stock for a market value of $124,304, according to SEC filings.
The sale in February came after Harley-Davidson announced Farley decided not to run again for the company’s board of directors.
In a statement announcing the departure, Harley-Davidson said:
“Mr. Farley’s decision was not due to any disagreement with the company on any matter relating to its operations, policies, or practices. The company wishes Mr. Farley well with gratitude and respect for his many contributions during his time with the company.”
And while Harley-Davidson is in the midst of an odd social media discourse being driven by anti-diversity, equity and inclusion activists, it’s possible the timing is just a coincidence.
After this sale, Farley still owns roughly 6,000 shares of Harley-Davidson stock after purchasing shares in May.
Farley joined the board in 2021.
In November, Farley went on “La Nacion,” a Argentinian TV news program, and said Harley-Davidson “is similar to Ford, going through a huge transformation.”
“Harley-Davidson, like Ford, is a global icon, but they also have to change,” Farley said. “They can’t stay the same. They can’t live in the past. They have to live in the future.”
During a May earnings call, Harley-Davidson publicly revealed its strategy for growth focusing on dealerships, affordability and customization.
The company this year plans to roll out the Sprint model at a more affordable price of around $6,000. And next year the company plans to bring back the Sportster model, which was discontinued in 2022.
The move hopes to bring younger customers to dealerships and the culture of riding.”
“For them, riding isn’t just about getting somewhere, it’s about the experience itself. The ride is the destination,” said CEO Artie Starrs. “By aligning Harley-Davidson and dealer economics, we can create more value for riders, stronger profitability for dealers and more dependable cash flow for shareholders.”
This story has been updated to clarify headlines.
This article originally appeared on Milwaukee Journal Sentinel: Ford CEO Farley sells Harley-Davidson shares after departing board
Reporting by Ricardo Torres, Milwaukee Journal Sentinel / Milwaukee Journal Sentinel
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By Ricardo Torres, Milwaukee Journal Sentinel | USA TODAY Network
