Form 4 for WKHS Workhorse Group Inc.

Accepted 2022-02-25 00:00:00 ET · period of report 2022-02-23 · accession 0001425287-22-000011 · SEC index · Original document

Summary rows

Aggregated the way they appear in lists: one row per insider, transaction code and security table.

X	Filed	Traded	Ticker	Insider	Title	Type	Price	Qty	Owned	ΔOwn	Value
D	2022-02-25	2022-02-23	WKHS	March Stanley Raymond	VP, Business Development	A - Grant	$3.03	+60.1K	110.3K	+120%	+$182.0K
D	2022-02-25	2022-02-23	WKHS	March Stanley Raymond	VP, Business Development	A - Grant	$0.00	+12.9K	32.9K	+64%	$0

Purchase Sale Sale after option exercise All abbreviations

#	Table	Security	Date	Code	A/D	Shares	Price	Owned after	Own	Exercise / expiry	Underlying	Footnotes
1	Common	Common Stock, $0.001 par value per share	2022-02-23	A	A	60,066	$3.03	110,266	D	—	—	(F1) Represents shares of common stock granted by Workhorse Group Inc. (the "Company") under a Restricted Stock Award Agreement vesting in equal amounts over a three year period in one year intervals beginning on February 23, 2023, less shares relinquished to the Company by the reporting person out of, and to cover estimated tax withholding for, restricted shares previously granted subject to vesting. The stock price reflected in Table I Column 4 was determined based on fair market value as the closing trading price of the Company's common stock on February 22, 2022.
2	Derivative	Performance Share Units	2022-02-23	A	A	12,871.50	$0.00	32,871.50	D	— · — to 2024-12-31	12,871.50 Common Stock, $0.001 par value per share	(F2) Each Performance Share Unit represents a contingent right to receive either one share of common stock of the Company or an equivalent cash value. Between 0% to 200% of the reported shares will vest based on the Company's performance compared to certain peer issuers, measured by the total return to shareholders over a performance period ending on December 31, 2024.