James Peters - May 3, 2022 Form 3 Insider Report for Workhorse Group Inc. (WKHS)

Signature
Arthur McMahon, attorney-in-fact for James Peters
Stock symbol
WKHS
Transactions as of
May 3, 2022
Transactions value $
$0
Form type
3
Date filed
2/14/2023, 12:58 PM
Next filing
Feb 14, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding WKHS Common Stock, $0.001 par value per share 81.3K May 3, 2022 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
holding WKHS Performance Share Units May 3, 2022 Common Stock, $0.001 par value per share 12.4K Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents (i) 25,000 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 April 5, 2022, less 1,412 shares relinquished to the Company by the reporting person out of, and to cover estimated tax withholding for, 4,166 restricted shares vested on April 5, 2022 and (ii) 57,756 shares of common stock granted by the Company under a Restricted Stock Award Agreement vesting in equal amounts over a three-year period in one-year intervals beginning on February 23, 2023, 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.
F2 Each Performance Share Unit represents a contingent right to receive either one share of common stock of the Company or an equivalent cash value. Between 0% to 200% of the reported 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.