James Peters - 03 May 2022 Form 3 Insider Report for Workhorse Group Inc. (WKHS)

Role: VP, Supply Chain Management
Signature: Arthur McMahon, attorney-in-fact for James Peters
Issuer symbol: WKHS
Transactions as of: 03 May 2022
Net transactions value: $0
Form type: 3
Filing time: 14 Feb 2023, 12:58:06 UTC
Next filing: 14 Feb 2023
SEC: View on sec.gov

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						81,344	03 May 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							03 May 2022	Common Stock, $0.001 par value per share	12,376		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.

Content

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.

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.