Alan S. Henricks - 15 Dec 2025 Form 4 Insider Report for Workhorse Group Inc. (WKHS)

Role: Director
Signature: /s/ Alan S. Henricks
Issuer symbol: WKHS
Transactions as of: 15 Dec 2025
Net transactions value: -$12,330
Form type: 4
Filing time: 15 Dec 2025, 17:20:47 UTC
Previous filing: 20 Aug 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Henricks Alan S.	Director	C/O WORKHORSE GROUP INC., 3600 PARK 42, SUITE 160E, SHARONVILLE	/s/ Alan S. Henricks	15 Dec 2025	0001513957

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	Options Exercise	$0	+1,894		$0.000000	1,894	15 Dec 2025	Direct	F1, F2, F3
transaction	WKHS	Common Stock, $0.001 par value per share	Sale	$12,330	-1,894	-100%	$6.51^*	0	15 Dec 2025	Direct	F1, F2, F3

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	Options Exercise	$0	-1,894	-100%	$0.000000	0	15 Dec 2025	Common Stock, $0.001 par value per share	1,894		Direct	F1, F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On June 17, 2024, Workhorse Group Inc. (the "Company") effected a 1-for-20 reverse split of the Company's common stock. On March 17, 2025, the Company effected a 1-for-12.5 reverse split of the Company's common stock. On December 8, 2025, the Company effected a 1-for-12 reverse split of the Company's common stock. The reverse stock splits resulted in a reduction in the number of shares held by the reporting person and proportional adjustments to the Company's outstanding equity awards. Accordingly, all amounts of securities reported in this Form 4 have been adjusted to reflect the foregoing reverse stock splits.
F2	Pursuant to an Agreement and Plan of Merger (the "Merger Agreement"), dated August 15, 2025, by and among the Company, Omaha Intermediate 2, Inc., Omaha Intermediate, Inc., Omaha Merger Subsidiary, Inc., and Motiv Power Systems, Inc., all of the Company's outstanding equity awards vested immediately prior to the effective time of the merger, with (to the extent applicable) performance deemed achieved at target.
F3	Represents Restricted Stock Units ("RSUs") granted by the Company to the reporting person on August 18, 2025. In accordance with the Merger Agreement, each RSU vested and settled in cash at the effective time of the merger based on the fair market value of the Company's common stock.