Workhorse Group Inc. — Director's Dealing 2023

Feb 14, 2023

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: Workhorse Group Inc. (WKHS)
CIK: 0001425287
Period of Report: 2022-05-03

Reporting Person: Peters James (VP, Supply Chain Management)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $0.001 par value per share	81344	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Performance Share Units	$	2024-12-31	Common Stock, $0.001 par value per share (12376.0)		Direct

Footnotes

F1: Represents (i) 25,000 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 beginning on April 5, 2022, less 1,412 shares relinquished to the Company by the reporting person out of, and to cover estimated tax withholding for, 4,166 restricted shares vested on April 5, 2022 and (ii) 57,756 shares of common stock granted by the Company under a Restricted Stock Award Agreement vesting in equal amounts over a three-year period in one-year intervals beginning on February 23, 2023, 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.

F2: Each Performance Share Unit represents a contingent right to receive either one share of common stock of the Company or an equivalent cash value. Between 0% to 200% of the reported shares will vest based on the Company's performance compared to certain peer issuers, measured by the total return to shareholders over a performance period ending on December 31, 2024.