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Workhorse Group Inc. — Director's Dealing 2025
Apr 21, 2025
34980_dirs_2025-04-21_d4cb52ff-d912-4159-b5a6-d80bbbade4b5.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: 2025-04-17
Reporting Person: March Stanley Raymond (VP, Corporate Development)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2025-04-17 | Common Stock, $0.001 par value per share | M | 80 | — | Acquired | 836 | Direct |
| 2025-04-17 | Common Stock, $0.001 par value per share | S | 80 | $1.31 | Disposed | 756 | Direct |
| 2025-04-17 | Common Stock, $0.001 par value per share | M | 104 | — | Acquired | 860 | Direct |
| 2025-04-17 | Common Stock, $0.001 par value per share | S | 104 | $1.31 | Disposed | 756 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2025-04-17 | Performance Share Units | $ | M | 80 | Disposed | 2024-12-31 | Common Stock, $0.001 par value per share (80) | Direct |
| 2025-04-17 | Performance Share Units | $ | M | 104 | Disposed | 2024-12-31 | Common Stock, $0.001 par value per share (104) | Direct |
Holdings (Non-Derivative)
| Security | Shares | Ownership |
|---|---|---|
| Common Stock, $0.001 par value per share | 268 | Indirect |
Footnotes
F1: Represents Performance Share Units ("PSUs") granted by Workhorse Group Inc. (the "Company") to the reporting person on December 17, 2021. On April 17, 2025, the PSUs vested upon the achievement of certain performance incentives and settled in cash based on the fair market value of the Company's common stock.
F2: On June 17, 2024, the Company effected a 1-for-20 reverse split of the Company's common stock. On March 17, 2025, the Company effected a 1-for-12.5 reverse split of the Company's common stock. The reverse stock splits resulted in a reduction in the number of shares held by the reporting person and proportional adjustments to the Company's outstanding equity awards. Accordingly, all amounts of securities reported in this Form 4 have been adjusted to reflect the cumulative 1-for-250 reverse split.
F3: Represents PSUs granted by the Company to the reporting person on February 23, 2022. On April 17, 2025, the PSUs vested upon the achievement of certain performance incentives and settled in cash based on the fair market value of the Company's common stock.