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Workhorse Group Inc. — Director's Dealing 2020
Jul 6, 2020
34980_dirs_2020-07-06_bc0f2916-0429-4f9c-9756-e1b9de6aa2d4.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: Workhorse Group Inc. (WKHS)
CIK: 0001425287
Period of Report: 2020-07-01
Reporting Person: Hughes Duane (Director, CEO and President)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2020-05-21 | Common Stock, $0.001 par value per share | F | 20691 | $19.18 | Disposed | 397598 | Direct |
Holdings (Derivative)
| Security | Exercise Price | Expiration | Underlying | Shares | Ownership |
|---|---|---|---|---|---|
| Stock Options | $0.97 | 2024-02-04 | Common Stock, $0.001 par value per share (1000000) | 1000000 | Direct |
| Stock Options | $0.97 | 2024-02-04 | Common Stock, $0.001 par value per share (50000) | 50000 | Direct |
| Stock Options | $5.28 | 2027-05-19 | Common Stock, $0.001 par value per share (400000) | 400000 | Direct |
| Stock Options | $7.21 | 2021-08-16 | Common Stock, $0.001 par value per share (22000) | 22000 | Direct |
| Stock Options | $4.99 | 2021-02-03 | Common Stock, $0.001 par value per share (25000) | 25000 | Direct |
| Stock Options | $1.75 | 2020-08-03 | Common Stock, $0.001 par value per share (20000) | 20000 | Direct |
Footnotes
F1: Represents shares of common stock granted by Workhorse Group Inc. (the "Company") under a Restricted Stock Award Agreement vesting in equal amounts over a three year period in six month intervals less shares relinquished to the Company by the reporting person out of, and to cover estimated tax withholding for, restricted shares 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 July 1, 2020.
F2: The options vested in full on November 6, 2019.
F3: Options shall become exercisable in twelve (12) equal quarterly installments of 83,333 commencing on March 31, 2019.
F4: 5,500 of the options vested on August 16, 2016 and an additional 5,500 will vest every six months thereafter.
F5: Workhorse Group Inc. granted stock options exercisable at $5.28 per share to Mr. Hughes to acquire 400,000 shares of common stock of the Company which are exercisable for a period of ten years. The Stock Options vest in 16 equal quarterly tranches of 25,000 shares commencing June 30, 2017.