[Form 4] Workhorse Group, Inc Insider Trading Activity

Rhea-AI Filing Summary

Raymond J. Chess, a director of Workhorse Group Inc. (WKHS), was granted 75,759 restricted stock units (RSUs) on 08/18/2025. Each RSU represents a contingent right to one share of common stock, vesting on 02/18/2026, and upon vesting the Board may settle the RSUs in cash. Following the reported transaction, Mr. Chess is shown as beneficially owning 75,759 shares on a direct basis. The Form 4 was signed on behalf of Mr. Chess by an attorney-in-fact on 08/20/2025. The filing discloses the grant amount, vesting date, and settlement discretion but does not state exercise prices or any change in outstanding share totals.

Insights

Securities Analyst

TL;DR: Director received 75,759 RSUs vesting Feb 18, 2026; disclosure is routine and informative for insider holdings.

This Form 4 reports a non-derivative award of 75,759 RSUs to a director of Workhorse Group Inc. The filing specifies the grant date, vesting date, and that settlement may be in cash at the Board's discretion. From an investor disclosure perspective, the report is clear on the number of units and beneficial ownership after the grant. The filing does not provide broader context such as total outstanding shares or the grant's value, so impact on dilution or compensation expense cannot be assessed from this form alone.

Corporate Governance Expert

TL;DR: The report documents a standard RSU grant to a director with cash settlement option; governance implications depend on plan terms not included here.

The Form 4 discloses that Mr. Raymond J. Chess, a director, received 75,759 RSUs that vest on 02/18/2026 and may be settled in cash. This is a routine insider compensation disclosure under Section 16. The filing is specific about quantity and vesting but omits plan-level details such as award rationale, performance conditions, or cap on cash settlement. Those missing elements limit assessment of alignment with shareholder interests.

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

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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^*

Chess Raymond Joseph

(Last) (First) (Middle)

C/O WORKHORSE GROUP INC.

3600 PARK 42 DRIVE, SUITE 160E

(Street)

SHARONVILLE OH 45241

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
08/18/2025

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

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

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

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

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
Restricted Stock Units	(1)	08/18/2025		A		75,759		02/18/2026(1)	02/18/2026(1)	Common Stock, $0.001 par value per share	75,759	$0	75,759	D

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 Workhorse Group Inc. (the "Company"), vesting on February 18, 2026. Upon vesting, the RSUs may be settled in cash at the discretion of the Company's Board of Directors.

Remarks:

	/s/ Arthur McMahon, attorney-in fact for Raymond J. Chess	08/20/2025
	** 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.

FAQ

What did Raymond J. Chess report on Form 4 for WKHS?

The Form 4 reports a grant of 75,759 restricted stock units (RSUs) to Raymond J. Chess with a transaction date of 08/18/2025.

When do the RSUs granted to WKHS director Raymond J. Chess vest?

The RSUs vest on 02/18/2026 as stated in the filing.

How will the RSUs for WKHS be settled upon vesting?

The filing states the RSUs may be settled in cash at the discretion of the Board of Directors upon vesting.

How many shares does Raymond J. Chess beneficially own after the reported transaction?

The Form 4 shows 75,759 shares beneficially owned on a direct basis following the reported transaction.

Who filed the Form 4 on behalf of Raymond J. Chess and when was it signed?

The Form 4 was signed by Arthur McMahon, attorney-in-fact for Raymond J. Chess on 08/20/2025.