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

Role: Director
Signature: /s/ Raymond Chess
Stock symbol: WKHS
Transactions as of: Dec 23, 2021
Transactions value $: -$3
Form type: 4
Date filed: 12/27/2021, 05:08 PM
Previous filing: Dec 3, 2021
Next filing: Mar 29, 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	Options Exercise	$72.1K	+10K	+8.55%	$7.21^*	127K	Dec 23, 2021	Direct
transaction	WKHS	Common Stock, $0.001 par value per share	Tax liability	-$72.1K	-6.98K	-5.5%	$10.33^*	120K	Dec 23, 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	-10K	-100%	$0.00^*	0	Dec 23, 2021	Common Stock, $0.001 par value per share	10K	$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.