Ryan Wesley Gaul - Feb 22, 2023 Form 4 Insider Report for Workhorse Group Inc. (WKHS)

Signature
/s/ Arthur McMahon, attorney-in-fact for Ryan Gaul
Stock symbol
WKHS
Transactions as of
Feb 22, 2023
Transactions value $
$306,002
Form type
4
Date filed
2/24/2023, 05:59 PM
Previous filing
Dec 1, 2022
Next filing
Feb 27, 2023

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 $306K +151K +103.41% $2.02 298K Feb 22, 2023 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 +50.5K $0.00 50.5K Feb 22, 2023 Common Stock, $0.001 par value per share 50.5K Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents 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 one year intervals beginning on February 22, 2024, 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 the grant date.
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, 2025.