Stanley R. March - Dec 17, 2021 Form 4 Insider Report for Workhorse Group Inc. (WKHS)

Signature
Arthur McMahon III, attorney-in-fact for Stanley R. March
Stock symbol
WKHS
Transactions as of
Dec 17, 2021
Transactions value $
$248,500
Form type
4
Date filed
12/20/2021, 10:28 AM
Previous filing
Nov 30, 2021
Next filing
Feb 25, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction WKHS Common Stock, $0.001 par value per share Award $249K +50K +25000% $4.97* 50.2K Dec 17, 2021 Direct F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction WKHS Performance Share Units Award $0 +20K $0.00 20K Dec 17, 2021 Common Stock, $0.001 par value per share 20K Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents 50,000 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 six month intervals beginning on June 15, 2022, 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 December 16, 2021.
F2 Each Performance Share Unit represents a contingent right to receive one share of common stock of the Company. The 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.