ROBERT M. GINNAN - 31 Dec 2022 Form 5 Insider Report for Workhorse Group Inc. (WKHS)

Role: Chief Financial Officer
Signature: Arthur McMahon, attorney-in-fact for Robert M. Ginnan
Issuer symbol: WKHS
Transactions as of: 31 Dec 2022
Transactions value $: $436,367
Form type: 5
Filing time: 06 Jan 2023, 15:58:59 UTC
Previous filing: 25 Feb 2022
Next filing: 17 Mar 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	WKHS	Common Stock, $0.001 par value per share	Award	$449K	+100K	+72.14%	$4.49^*	239K	04 Jan 2022	Direct	F1
transaction	WKHS	Common Stock, $0.001 par value per share	Tax liability	-$12.6K	-4.86K	-2.04%	$2.60^*	234K	04 Jul 2022	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents shares of common stock granted by Workhorse Group Inc. (the "Company") under an Employment Agreement vesting in equal amounts over a three year period in six month intervals beginning on July 4, 2022, 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 the grant date.
F2	Represents shares of common stock 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 of the closing trading price of the Company's common stock on the vesting date.

Content

Represents shares of common stock granted by Workhorse Group Inc. (the "Company") under an Employment Agreement vesting in equal amounts over a three year period in six month intervals beginning on July 4, 2022, 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 the grant date.

Represents shares of common stock 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 of the closing trading price of the Company's common stock on the vesting date.