Workhorse Group Inc. — Director's Dealing 2020

Jul 17, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Workhorse Group Inc. (WKHS)
CIK: 0001425287
Period of Report: 2020-07-15

Reporting Person: Chess Raymond Joseph (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-07-15	Common Stock, $0.001 par value per share	S	27365	$16.34	Disposed	157243	Direct
2020-07-15	Common Stock, $0.001 par value per share	F	1096	$15.97	Disposed	184608	Direct
2020-07-15	Common Stock, $0.001 par value per share	M	10000	$1.75	Acquired	185704	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-07-15	Stock Options	$1.75	M	10000	Acquired	2020-08-11	Common Stock, $0.001 par value per share (10000)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options	$7.21	2021-08-16	Common Stock, $0.001 par value per share (10000)	10000	Direct
Stock Options	$4.99	2021-02-01	Common Stock, $0.001 par value per share (10000)	10000	Direct

Footnotes

F1: The sales reported on this Form 4 were effected pursuant to a Rule 10b-5 trading plan.

F2: Represents the exercise of a stock option pursuant to which the Reporting Person received an aggregate of 10,000 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 Workhorse Group Inc. 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 8,904 shares of common stock.