SEC Form 4 · accession 0001213900-17-010325
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 18, 2017
Accepted (ET)
Oct 5, 2017 · 5:05 pm EDT
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 shareF1,F2 | Sep 18, 2017 | P | 781,248 | $3.20 | A | 6,970,283 | I | See footnote |
| Common Stock, $0.001 par value per shareF1,F2 | Sep 18, 2017 | P$0 | 6,189,035 | — | A | 6,189,035 | I | See footnote |
| Common Stock, $0.001 par value per shareF1,F2 | Sep 18, 2017 | S$0 | 2,697,147 | — | D | 0 | I | See footnote |
| Common Stock, $0.001 par value per shareF2,F1 | Sep 18, 2017 | S$0 | 3,491,888 | — | D | 0 | D | |
| Common Stock, $0.001 par value per share | holding | — | — | — | 154,871 | I | The Joe & Kim Lukens Foundation | |
| Common Stock, $0.001 par value per shareF3 | holding | — | — | — | 25,000 | I | See footnote | |
| Common Stock, $0.001 par value per shareF4 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WarrantsF2 | $3.80 | Sep 18, 2017 | A | 585,936 | A | Sep 18, 2017 | Sep 18, 2022 | Common Stock, Par Value $0.001 | 585,936 | 585,936 | I |
| 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
- F1US Trust Company of Delaware Administrative Trustee of the Joe & Kim Lukens Dynasty Trust assigned 2,697,147 shares of common stock to New Era Capital Fund L.P. ("New Era") in exchange for 34.504% of New Era. New Era Capital LLC ("NEC") is the General Partner of New Era. Mr. Lukens is the managing member of NEC. Jospeh T. Lukens, Jr. assigned 3,491,888 shares of common stock to New Era in exchange for 44.672% of New Era.
- F2New Era acquired 781,248 shares of common stock and warrants to purchase 585,936 shares of common stock for a period of five years at an exercise price of $3.80 per share from the Company on September 18, 2017 for an aggregate purchase price of $2,499,993.60.
- F3Joseph 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
- F4Joseph 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.