Workhorse director receives 30,484 stock units

Mader Pamela S. reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Mader Pamela S. reported acquisition or exercise transactions in this Form 4 filing.

Workhorse Group Inc. director Pamela S. Mader received an award of 30,484 shares of common stock in the form of restricted stock units. Of these, 25,000 RSUs will vest in one installment on the earlier of June 29, 2027 or the 2027 annual stockholder meeting, and 5,484 RSUs vested immediately on the grant date. After this award, she directly holds 30,624 shares.

Insider Trade Summary

Grant/Award: 30,484 shares

Grant/Award 1 txn

Insider Mader Pamela S.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock, $0.001 par value per share F1	30,484	$0.00	$0.00

Holdings After Transaction: Common Stock, $0.001 par value per share — 30,624 shares (Direct)

Footnotes (1)

1. F1. Represents restricted stock units ("RSUs") granted to the Reporting Person. Each RSU represents a contingent right to receive one share of common stock of the Issuer. Of the RSUs reported, 25,000 will vest in one installment on the earlier of June 29, 2027 and the date of the Issuer's 2027 annual stockholder's meeting. The remaining 5,484 RSUs fully vested as of the date of grant.

Key Figures

RSUs granted: 30,484 shares RSUs vesting later: 25,000 RSUs RSUs vested immediately: 5,484 RSUs +2 more

5 metrics

RSUs granted 30,484 shares Non-derivative award to director Pamela S. Mader on July 17, 2026

RSUs vesting later 25,000 RSUs Vest in one installment on the earlier of June 29, 2027 or 2027 annual meeting

RSUs vested immediately 5,484 RSUs Fully vested as of the date of grant

Holdings after award 30,624 shares Total Workhorse common stock directly held by Pamela S. Mader after the transaction

Grant price $0.00 per share Reported price for RSU award to director

Key Terms

restricted stock units, contingent right, annual stockholder's meeting

3 terms

restricted stock units financial

"Represents restricted stock units granted to the Reporting Person."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

contingent right financial

"Each RSU represents a contingent right to receive one share of common stock."

annual stockholder's meeting financial

"Will vest in one installment on the earlier of June 29, 2027 and the date of the Issuer's 2027 annual stockholder's meeting."

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Workhorse Group (WKHS) report for Pamela S. Mader?

Pamela S. Mader, a director of Workhorse Group (WKHS), was granted 30,484 restricted stock units representing common shares on July 17, 2026. The award is a non-derivative equity grant, not an open-market purchase or sale, and increases her direct holdings.

How many Workhorse Group (WKHS) RSUs will vest later for Pamela S. Mader?

Out of the 30,484 RSUs granted to Pamelia S. Mader by Workhorse Group (WKHS), 25,000 RSUs will vest in a single installment. Vesting occurs on the earlier of June 29, 2027 or the date of the company’s 2027 annual stockholder meeting.

How many Workhorse Group (WKHS) RSUs vested immediately for Pamela S. Mader?

Of the RSU award from Workhorse Group (WKHS), 5,484 restricted stock units fully vested as of the grant date. These vested RSUs each represent a contingent right to receive one share of Workhorse common stock upon settlement.

What is Pamela S. Mader’s Workhorse Group (WKHS) share ownership after this RSU grant?

Following the reported RSU grant, director Pamela S. Mader directly holds 30,624 shares of Workhorse Group (WKHS) common stock. This total includes the newly granted RSUs, which convert into one share of common stock for each unit upon settlement.

What is the per-share grant price of Pamela S. Mader’s Workhorse Group (WKHS) RSUs?

The RSUs granted to Pamela S. Mader by Workhorse Group (WKHS) are reported with a grant price of $0.00 per share. This indicates a compensatory equity award rather than a purchase of shares in the market.

What does each RSU granted by Workhorse Group (WKHS) to Pamela S. Mader represent?

Each RSU granted to Pamela S. Mader by Workhorse Group (WKHS) represents a contingent right to receive one share of the company’s common stock. Actual shares are delivered as the RSUs vest and settle under the award terms.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 07/20/2026 - 06:00 PM EDT Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Mader Pamela S.

(Last) (First) (Middle)

C/O WORKHORSE GROUP INC.

48443 ALPHA DRIVE, #190

(Street)

WIXOM MICHIGAN 48393

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Workhorse Group Inc. [ WKHS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/17/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, $0.001 par value per share	07/17/2026		A		30,484(1)	A	$0	30,624	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents restricted stock units ("RSUs") granted to the Reporting Person. Each RSU represents a contingent right to receive one share of common stock of the Issuer. Of the RSUs reported, 25,000 will vest in one installment on the earlier of June 29, 2027 and the date of the Issuer's 2027 annual stockholder's meeting. The remaining 5,484 RSUs fully vested as of the date of grant.

Remarks:

	/s/ Pamela S. Mader	07/20/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)