James D. Harrington - Dec 27, 2021 Form 4 Insider Report for Workhorse Group Inc. (WKHS)

Role: Chief Administrative Officer
Signature: Arthur McMahon III, attorney-in-fact for James D. Harrington
Stock symbol: WKHS
Transactions as of: Dec 27, 2021
Transactions value $: $187,500
Form type: 4
Date filed: 12/28/2021, 04:03 PM
Previous filing: Nov 9, 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	$188K	+36.2K	+36.2%	$5.18^*	136K	Dec 27, 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	+36.2K		$0.00	36.2K	Dec 27, 2021	Common Stock, $0.001 par value per share	36.2K		Direct	F2

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

Explanation of Responses:

Id	Content
F1	Represents 36,197 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 six months after the grant date, 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 23, 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.

Content

Represents 36,197 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 six months after the grant date, 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 23, 2021.

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.