Form 4 for WKHS Workhorse Group Inc.
Accepted 2024-05-16 00:00:00 ET · period of report 2024-05-14 · accession 0001425287-24-000092 · 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 | 2024-05-16 | 2024-05-14 | WKHS | Declet Brandon Torres | Dir | M - OptEx | $0.00 | +157.7K | 269.7K | +141% | $0 |
| D | 2024-05-16 | 2024-05-14 | WKHS | Declet Brandon Torres | Dir | D - Sale to Iss | $0.21 | -157.7K | 112.0K | -58% | -$33.1K |
| D | 2024-05-16 | 2024-05-14 | WKHS | Declet Brandon Torres | Dir | M - OptEx | $0.00 | -157.7K | 0 | -100% | $0 |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | 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 | 2024-05-14 | M | A | 157,728 | $0.00 | 269,710 | D | — | — | (F1) Represents shares of restricted stock units ("RSUs") granted to the reporting person. Each RSU represents a contingent right to receive one share of common stock of Workhorse Group Inc. (the "Company"), vesting on August 21, 2024. Upon vesting, the RSUs may be settled in cash at the discretion of the Company's Board of Directors or Compensation Committee. If the reporting person is no longer a director of the Company on August 21, 2024 by reason of death, disability, or not standing for re-election, the RSUs will vest pro rata based on the number of board meetings attended by the grantee in 2024, as compared to the total number of scheduled board meetings in 2024 between the grant date and the six-month anniversary thereof. 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 the grant date. |
| 2 | Common | Common Stock, $0.001 par value per share | 2024-05-14 | D | D | 157,728 | $0.21 | 111,982 | D | — | — | (F2) Pursuant to the terms of the Award Agreement, all of the RSUs that vested were settled in cash. (F3) Reflects the removal of 315,457 RSUs that were originally reported as common stock and were subsequently reported as derivatives by amendment. |
| 3 | Derivative | Restricted Stock Units | 2024-05-14 | M | D | 157,728 | $0.00 | 0 | D | — · — to — | 157,728 Common Stock, $0.001 par value per share | (F1) Represents shares of restricted stock units ("RSUs") granted to the reporting person. Each RSU represents a contingent right to receive one share of common stock of Workhorse Group Inc. (the "Company"), vesting on August 21, 2024. Upon vesting, the RSUs may be settled in cash at the discretion of the Company's Board of Directors or Compensation Committee. If the reporting person is no longer a director of the Company on August 21, 2024 by reason of death, disability, or not standing for re-election, the RSUs will vest pro rata based on the number of board meetings attended by the grantee in 2024, as compared to the total number of scheduled board meetings in 2024 between the grant date and the six-month anniversary thereof. 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 the grant date. |