Form 4: Workhorse Group Inc. General Counsel Reports Stock Transactions Following PSU Vesting

James D. Harrington, General Counsel of Workhorse Group Inc., reports the vesting and settlement of Performance Share Units (PSUs) and subsequent stock sales on April 17, 2025.

Summary

• James D. Harrington, General Counsel of Workhorse Group Inc., filed a Form 4 detailing changes in beneficial ownership.
• On April 17, 2025, Performance Share Units (PSUs) granted on December 27, 2021, and February 23, 2022, vested upon achievement of certain performance incentives.
• The PSUs were settled in cash based on the fair market value of Workhorse Group Inc.'s common stock.
• The reporting person acquired 145 shares and then disposed of 145 shares at $1.31 on April 17, 2025, related to the PSUs granted on December 27, 2021.
• The reporting person acquired 224 shares and then disposed of 224 shares at $1.31 on April 17, 2025, related to the PSUs granted on February 23, 2022.
• Reverse stock splits occurred on June 17, 2024 (1-for-20) and March 17, 2025 (1-for-12.5), resulting in a cumulative 1-for-250 reverse split, which adjusted the reported share amounts.
• Following the reported transactions, the reporting person beneficially owns 1,244 shares of common stock.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing stock transactions, indicating a neutral sentiment.

Industry Context

This filing reflects routine executive compensation and stock transactions, common in publicly traded companies. The vesting of PSUs indicates the achievement of certain performance goals set by the company.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the sale of shares by a company officer.

Key Dates

Keywords

Workhorse Group Inc., James D. Harrington, Form 4, Performance Share Units, PSUs, Stock Transactions, Beneficial Ownership, Reverse Stock Split