Raymond Joseph Chess - 23 Dec 2021 Form 4 Insider Report for Workhorse Group Inc. (WKHS)

Role: Director
Signature: /s/ Raymond Chess
Issuer symbol: WKHS
Transactions as of: 23 Dec 2021
Net transactions value: -$3.4
Form type: 4
Filing time: 27 Dec 2021, 17:08:24 UTC
Previous filing: 03 Dec 2021
Next filing: 29 Mar 2022
SEC: View on sec.gov

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	Options Exercise	$72,100	+10,000	+8.5%	$7.21^*	127,008	23 Dec 2021	Direct
transaction	WKHS	Common Stock, $0.001 par value per share	Tax liability	$72,103	-6,980	-5.5%	$10.33^*	120,028	23 Dec 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	Stock Options	Options Exercise	$0	-10,000	-100%	$0.000000^*	0	23 Dec 2021	Common Stock, $0.001 par value per share	10,000	$7.21	Direct

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The stock price reflected in Table II Column 8 was determined based on fair market value as the five day average trading price of the Company's common stock on between August 4-10, 2021. The timing difference between the pricing dates and the exercise date is due to an administrative oversight causing a delay of the processing of the exercise, which Mr. Chess duly made in August 2021.