Form 4: Workhorse Group Director Brandon Torres Declet Reports Changes in Beneficial Ownership

Director Brandon Torres Declet reports acquisition and disposition of Workhorse Group Inc. securities, including restricted stock units settled in cash.

Summary

• On May 14, 2024, Director Brandon Torres Declet reported changes in beneficial ownership of Workhorse Group Inc. securities.
• The transactions involved the acquisition of 157,728 shares of common stock through the vesting of restricted stock units (RSUs).
• These RSUs were settled in cash, as per the terms of the award agreement.
• Declet directly owns 111,982 shares of common stock after the reported transactions.
• The reported transactions also reflect the removal of 315,457 RSUs that were originally reported as common stock and were subsequently reported as derivatives by amendment.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, indicating a neutral sentiment. It simply reports transactions without expressing any positive or negative outlook.

Future Outlook

The RSUs vest on August 21, 2024, and may be settled in cash at the discretion of the Company's Board of Directors or Compensation Committee.

Industry Context

This filing is a routine disclosure related to changes in beneficial ownership by a company insider, which is a common occurrence in publicly traded companies. It provides transparency to investors regarding the actions of company directors.

Stakeholder Impact

• The transactions provide transparency to shareholders regarding insider activity.
• The cash settlement of RSUs could impact the company's cash flow.

Next Steps

• The RSUs will vest on August 21, 2024, and the company will decide whether to settle them in cash or stock.

Key Dates