Form 4: Workhorse Group CEO Richard Dauch Reports Stock Transactions After Reverse Stock Splits
SEC Form 4
Richard Dauch, CEO of Workhorse Group Inc., reports transactions involving common stock and restricted stock units following two reverse stock splits.
Summary
- Richard F. Dauch, CEO of Workhorse Group Inc., filed a Form 4 detailing changes in beneficial ownership.
- The report covers transactions on February 22, 2025, involving common stock and restricted stock units (RSUs).
- These transactions follow two reverse stock splits: a 1-for-20 split on June 17, 2024, and a 1-for-12.5 split on March 17, 2025, resulting in a cumulative 1-for-250 reverse split.
- Dauch acquired 7,635 shares of common stock related to the vesting of restricted stock units.
- He also relinquished 2,283 shares to cover estimated tax withholding for previously granted RSUs at a price of $6.09 per share.
- Following these transactions, Dauch directly owns 15,716 shares of common stock and 15,268 restricted stock units.
- The RSUs vest in equal one-third increments over three years beginning on February 22, 2025, and may be settled in cash or stock at the company's discretion.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, so the sentiment is neutral.
Future Outlook
The RSUs vest in equal one-third increments over three years beginning on February 22, 2025, and may be settled in cash or stock at the company's discretion.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- The filing provides transparency to shareholders regarding insider transactions.
Key Dates
| Date | Description |
|---|---|
| 2024-06-17 | Workhorse Group Inc. effected a 1-for-20 reverse split of the Company's common stock. |
| 2025-02-22 | Date of the reported transactions involving common stock and restricted stock units. |
| 2025-02-22 | RSUs vest in equal one-third increments over three years beginning on this date. |
| 2025-03-17 | Workhorse Group Inc. effected a 1-for-12.5 reverse split of the Company's common stock. |
| 2025-04-28 | Date of signature on the Form 4 filing. |
Keywords
Form 4, Workhorse Group, Richard Dauch, CEO, Stock Transactions, Reverse Stock Split, Restricted Stock Units, Beneficial Ownership
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