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Ownership Document
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| Schema Version: X0508 |
| Document Type: 4 |
| Period of Report: 2/21/24 |
| Not Subject to Section 16: 0 |
| Issuer: |
| Issuer CIK: 1425287 |
| Issuer Name: Workhorse Group Inc. |
| Issuer Trading Symbol: WKHS |
| Reporting Owner: |
| Reporting Owner ID: |
| | Owner CIK: 1425287 |
| | Owner Name: Workhorse Group Inc. |
| Reporting Owner Address: |
| | Owner Street 1: C/O WORKHORSE GROUP INC. |
| | Owner Street 2: 3600 PARK 42 DRIVE, SUITE 160E |
| | Owner City: SHARONVILLE |
| | Owner State: OH |
| | Owner ZIP Code: 45241 |
| | Owner State Description: |
| Reporting Owner Relationship: |
| | Is Director? Yes |
| | Is Officer? No |
| | Is Ten Percent Owner? No |
| | Is Other? No |
| Aff 10b5 One: 0 |
| Non-Derivative Table: |
| Non-Derivative Transaction: |
| | Security Title: |
| | | Value: Common Stock, $0.001 par value per share |
| | Transaction Date: |
| | | Value: 2/21/24 |
| | Transaction Coding: |
| | | Transaction Form Type: 4 |
| | | Transaction Code: A |
| | | Equity Swap Involved? No |
| | Transaction Amounts: |
| | | Transaction Shares: |
| Value: 315,457 |
| Footnote ID: F1 |
| | | Transaction Price Per Share: |
| Value: 0.317 |
| | | Transaction Acquired-Disposed Code: |
| Value: A |
| | Post-Transaction Amounts: |
| | | Shares Owned Following Transaction: |
| Value: 465,885 |
| | Ownership Nature: |
| | | Direct or Indirect Ownership: |
| Value: D |
| Derivative Table: |
| Footnotes: |
| Footnote - F1: Represents shares of restricted stock units ("RSUs") granted to the reporting person. Each RSU represents a contingent right to receive one share of common stock of Workhorse Group Inc. (the "Company"), vesting on August 21, 2024. If the reporting person is no longer a director of the Company on August 21, 2024 by reason of death, disability, or not standing for re-election, the RSUs will vest pro rata based on the number of board meetings attended by the grantee in 2024, as compared to the total number of scheduled board meetings in 2024 between the grant date and the six-month anniversary thereof. 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. |
| Remarks: |
| Owner Signature: |
| Signature Name: /s/ Arthur McMahon, attorney-in-fact for Jacqueline A. Dedo |
| Signature Date: 2/23/24 |
