SEC Form 4 · accession 0001213900-19-002003
Workhorse Group Inc. · WKHS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Duane Hughes
Officer — CEO and President · Director
Period of report
Feb 4, 2019
Accepted (ET)
Feb 8, 2019 · 5:45 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001425287
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock OptionsF5 | $0.97 | Feb 4, 2019 | A | 1,000,000 | A | Mar 31, 2019 | Feb 4, 2024 | Common Stock, Par Value $0.001 | 1,000,000 | — | D |
| Stock OptionsF2 | $0.97 | Feb 4, 2019 | A | 50,000 | A | Feb 4, 2019 | Feb 4, 2024 | Common Stock, Par Value $0.001 | 50,000 | 50,000 | D |
| Stock OptionsF1 | $5.28 | holding | — | — | — | Jun 30, 2017 | May 19, 2027 | Common Stock, Par Value $0.001 | 225,000 | 225,000 | D |
| Stock OptionsF4 | $7.21 | holding | — | — | — | Aug 16, 2016 | Aug 16, 2021 | Common Stock, Par Value $0.001 | 22,000 | 22,000 | D |
| Stock OptionsF3 | $4.99 | holding | — | — | — | Feb 3, 2016 | Feb 3, 2021 | Common Stock, Par Value $0.001 | 20,000 | 20,000 | D |
| Stock OptionsF2 | $1.75 | holding | — | — | — | Aug 3, 2015 | Aug 3, 2020 | Common Stock, Par Value $0.001 | 20,000 | 20,000 | D |
Explanation of responses
- F1Options shall become exercisable in twelve (12) equal quarterly installments of 83,333 commencing on March 31, 2019.
- F210,000 of the options vested on February 4, 2019, and 4,000 shall vest every June 30 and December 31 thereafter.
- F3Workhorse Group Inc. granted stock options exercisable at $5.28 per share to Mr. Hughes to acquire 400,000 shares of common stock of the Company which are exercisable for a period of ten years. The Stock Options vest in 16 equal quarterly tranches of 25,000 shares commencing June 30, 2017.
- F45,500 of the options vested on August 16, 2016 and an additional 5,500 will vest every six months thereafter.
- F55,000 of the options vested on February 2, 2016 and 5,000 shall vest every six (6) months thereafter.