Brandon Torres Declet - Feb 21, 2024 Form 4/A Insider Report for Workhorse Group Inc. (WKHS)

Role
Director
Signature
/s/ Arthur McMahon III, attorney-in-fact for Brandon Torres Declet
Stock symbol
WKHS
Transactions as of
Feb 21, 2024
Transactions value $
$0
Form type
4/A
Date filed
5/16/2024, 07:29 PM
Date Of Original Report
Feb 23, 2024
Previous filing
May 4, 2023
Next filing
May 16, 2024

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 Restricted Stock Units Award $0 +315K $0.00 315K Feb 21, 2024 Common Stock, $0.001 par value per share 315K Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares of restricted stock units ("RSUs") granted to the reporting person. Each RSU represents a contingent right to receive one share of common stock of Workhorse Group Inc. (the "Company"), vesting on August 21, 2024. Upon vesting, the RSUs may be settled in cash at the discretion of the Company's Board of Directors or Compensation Committee. If the reporting person is no longer a director of the Company on August 21, 2024 by reason of death, disability, or not standing for re-election, the RSUs will vest pro rata based on the number of board meetings attended by the grantee in 2024, as compared to the total number of scheduled board meetings in 2024 between the grant date and the six-month anniversary thereof. 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.

Remarks:

Due to administrative error, the original Form 4 did not contemplate the ability of the Company to settle the RSUs in cash.