Form 4: Workhorse Group Inc. Executive James D. Harrington Reports Changes in Beneficial Ownership After Stock Split and Tax Withholding

General Counsel James D. Harrington of Workhorse Group Inc. reports changes in beneficial ownership due to a stock split and shares relinquished for tax withholding on vested restricted shares.

Summary

• On June 27, 2024, James D. Harrington, General Counsel of Workhorse Group Inc., reported changes in his beneficial ownership of the company's stock.
• These changes are due to two factors: shares relinquished to cover estimated tax withholding for previously granted restricted shares and a 1-for-20 reverse stock split that occurred on June 17, 2024.
• Harrington relinquished 87 shares of common stock at a price of $1.61 per share to cover the tax withholding.
• Following these transactions, Harrington beneficially owns 61,821 shares of Workhorse Group Inc.
• All amounts of securities reported in this Form 4 have been adjusted to reflect the 1-for-20 reverse split.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, so the sentiment is neutral. It reflects standard corporate actions and insider transactions.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. Reverse stock splits are often undertaken by companies to increase their stock price and maintain listing requirements.

Stakeholder Impact

• The reverse stock split impacts all shareholders by reducing the number of outstanding shares.
• The tax withholding impacts the reporting person's net share ownership.

Key Dates