SEC Form 4 · accession 0001213900-17-000298
Workhorse Group Inc. · WKHS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Joseph Theodore Lukens Jr.
10% Owner
Period of report
Sep 13, 2016
Accepted (ET)
Jan 12, 2017 · 5:13 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001425287
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock, $0.001 par value per shareF5 | Jan 6, 2017 | X | 166,000 | $150.00 | A | 2,823,555 | D | |
| Common Stock, $0.001 par value per shareF7 | Sep 13, 2016 | J | 25,000 | $0.00 | D | 25,000 | I | See footnote |
| Common Stock, $0.001 par value per shareF8 | Sep 13, 2016 | J | 25,000 | $0.00 | D | 25,000 | I | See footnote |
| Common Stock, $0.001 par value per shareF4,F6 | holding | — | — | — | 570,000 | I | Our Lady of America Ministries Inc. | |
| Common Stock, $0.001 par value per share | holding | — | — | — | 154,871 | I | The Joe & Kim Lukens Foundation | |
| Common Stock, $0.001 par value per share | holding | — | — | — | 2,697,147 | I | US Trust Company of Delaware Administrative Trustee of the Joe & Kim Lukens Dynasty Trust | |
| Common Stock, $0.001 par value per shareF1,F2 | holding | — | — | — | 25,000 | I | See footnote | |
| Common Stock, $0.001 par value per shareF1,F3 | holding | — | — | — | 25,000 | I | See footnote |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 6% Convertible Debenture | $6.42 | Jan 10, 2017 | P | 311,526 | A | Jan 10, 2017 | Jan 10, 2019 | Common Stock, Par Value $0.001 | 311,526 | 311,526 | D |
| Common Stock Purchase WarrantF6 | $1.50 | Jan 6, 2017 | X | 166,000 | D | May 23, 2014 | May 22, 2017 | Common Stock, Par Value $0.001 | 0 | 0 | D |
| Common Stock Purchase Warrant | $5.28 | holding | — | — | — | Nov 25, 2015 | Nov 25, 2020 | Common Stock, Par Value $0.001 | 571,429 | 571,429 | D |
Explanation of responses
- F1Mr. Lukens assigned an aggregate of 100,000 shares to various family trusts on March 9, 2016.
- F2Joseph T Lukens, Jr. and Gerald Budde, Co-Trustee of the Joseph T. Lukens, Jr. Irrevocable Trust for Nathan J. Lukens U/T/A Dated 2/23/2016
- F3Joseph T Lukens, Jr. and Gerald Budde, Co-Trustee of the Joseph T. Lukens, Jr. Irrevocable Trust for Roman E. Lukens U/T/A Dated 2/23/2016
- F4Mr. Lukens assigned 570,000 shares to Our Lady of America Ministries Inc., a Ohio 501(c)(3) charity controlled by Mr. Lukens.
- F5Mr. Lukens acquired 166,000 shares of common stock in connection with the exercise of a common stock purchase warrant on January 6, 2017
- F6On January 6, 2017, Mr. Lukens exercised a common stock purchase warrant to acquire 166,000 shares of common stock at an exercise price of $1.50 per share.
- F7On September 13, 2016, the Joseph T Lukens, Jr. and Gerald Budde, Co-Trustee of the Joseph T. Lukens, Jr. Irrevocable Trust for Heidi H. Lukens U/T/A Dated 2/23/2016 transferred 25,000 shares of common stock to Heidi H. Lukens, Mr. Lukens' daughter. Heidi Lukens is not dependent on Mr. Lukens.
- F8On September 13, 2016, the Joseph T Lukens, Jr. and Gerald Budde, Co-Trustee of the Joseph T. Lukens, Jr. Irrevocable Trust for Chelsey L. Lukens U/T/A Dated 2/23/2016 transferred 25,000 shares of common stock to Chelsey L. Lukens, Mr. Lukens' daughter. Chelsey Lukens is not dependent on Mr. Lukens.
Remarks
All prices and amounts are revised to reflect the 10:1 reverse split effective December 11, 2015.