Stanley R. March - Feb 22, 2023 Form 4 Insider Report for Workhorse Group Inc. (WKHS)

Role: VP, Business Development
Signature: Arthur McMahon III, attorney-in-fact for Stanley R. March
Stock symbol: WKHS
Transactions as of: Feb 22, 2023
Transactions value $: $180,000
Form type: 4
Date filed: 3/17/2023, 05:11 PM
Previous filing: Dec 15, 2022
Next filing: May 4, 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	$180K	+89.1K	+75.35%	$2.02	207K	Feb 22, 2023	Direct	F1
holding	WKHS	Common Stock, $0.001 par value per share						67K	Feb 22, 2023	By IRA

* 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 February 21, 2023.

Content

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 February 21, 2023.