Workhorse Group Inc. — Director's Dealing 2016

Sep 14, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Workhorse Group Inc. (WKHS)
CIK: 0001425287
Period of Report: 2016-09-14

Reporting Person: Samuels H. Benjamin (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-09-14	Common Stock, $0.001 par value per share	P	143500	$5.28	Acquired	714928	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-09-14	Common Stock Purchase Warrant	$5.28	X	143500	Disposed	2020-11-09	Common Stock, Par Value (143500)	Indirect
2016-08-16	Stock Options	$7.21	A	10000	Disposed	2021-08-16	Common Stock, Par Value $0.001 ()	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options	$7.01	2020-12-17	Common Stock, Par Value $0.001 (50000)	50000	Direct
Common Stock Purchase Warrant	$5.28	2020-12-04	Common Stock, Par Value $0.001 (142857)	142857	Indirect

Footnotes

F1: 10,000 of the options vested on December 17, 2015 and 4,000 shall vest every six (6) months thereafter.

F2: On November 9, 2015, Samuels 2012 Children's Trust UAD 10/28/12 (the "Trust") acquired a Stock Purchase Warrant to acquire 428,571 shares of common stock (the "Initial Warrant"). On December 4, 2015, the Trust acquired a Stock Purchase Warrant to acquire 142,857 shares of common stock. On January 5, 2016, convertible notes held by the Trust were automatically converted into 571,429 shares of common stock. Further, on September 14, 2016, the Trust exercised the Initial Warrant and received 143,500 shares of common stock for a purchase price of $757,680 or $5.28 per share.

F3: H. Benjamin Samuels is a trustee and beneficiary of the Trust

F4: 2,500 of the options vested on August 16, 2016 and an additional 2,500 will vest every six months thereafter.