Robert M. Ginnan - 21 Feb 2024 Form 4/A - Amendment Insider Report for Workhorse Group Inc. (WKHS)

Role
Chief Financial Officer
Signature
/s/ Arthur McMahon, attorney-in-fact for Robert M. Ginnan
Issuer symbol
WKHS
Transactions as of
21 Feb 2024
Net transactions value
$0
Form type
4/A - Amendment
Filing time
07 Jan 2025, 16:45:52 UTC
Date Of Original Report
23 Feb 2024
Previous filing
05 Jan 2024
Next filing
26 Feb 2024
SEC
View on sec.gov

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 +946,372 $0.000000 946,372 21 Feb 2024 Common Stock, $0.001 par value per share 946,372 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"). Upon vesting, the RSUs may be settled in cash at the discretion of the Company's Board of Directors or Compensation Committee. The RSUs vest in equal one-third increments over three years beginning on February 21, 2025, less shares relinquished to the Company by the reporting person out of, and to cover estimated tax withholding for, RSUs 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.

Remarks:

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