Workhorse Group Inc. — Director's Dealing 2019

May 24, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Workhorse Group Inc. (WKHS)
CIK: 0001425287
Period of Report: 2019-05-22

Reporting Person: Chess Raymond Joseph (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-05-22	Common Stock, $0.001 par value per share	F	3553	$1.97	Disposed	66447	Direct
2019-05-22	Common Stock, $0.001 par value per share	M	70000	$0.10	Acquired	70000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-05-22	Stock Options	$0.10	M	70000	Disposed	2019-07-01	Common Stock (70000)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options	$7.21	2021-08-16	Common Stock, Par Value $0.001 (10000)	10000	Direct
Stock Options	$4.99	2021-02-01	Common Stock (10000)	10000	Direct
Stock Options	$1.40	2019-12-19	Common Stock (10000)	10000	Direct
Stock Options	$1.75	2020-08-11	Common Stock (10000)	10000	Direct

Footnotes

F1: This Form is being filed to report the exercise of a stock option pursuant to which the Reporting Person received an aggregate of 70,000 shares by means of a cashless exercise. A cashless exercise is a method of exercising a stock option in which the option holder pays the exercise price to the Company using shares of common stock the Reporting Person would have received pursuant to the option exercise. As a result of this cashless exercise, the Reporting Person, on a net basis, acquired ownership of a net amount of 66,447 shares of common stock