Workhorse Reports Inducement Grants under NASDAQ Listing Rule 5635(c)(4)
DETROIT, July 20, 2026 (GLOBE NEWSWIRE) -- Workhorse Group Inc. (NASDAQ:WKHS) ("Workhorse" or the "Company"), a North American OEM and provider of all-electric trucks, step vans, shuttles and buses, today announced that on July 20, 2026, the Human Resource Management and Compensation Committee of the Company’s Board of Directors (the "Committee") granted 93,750 restricted stock units ("RSUs") to Jody Davis under the Company’s Inducement Equity Award Plan (the "Inducement Plan") in connection with Mr. Davis’s hiring and appointment as Chief Financial Officer. The award was granted as an inducement material to Mr. Davis entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).
The RSUs will vest over a three-year period, in three equal installments on the first, second and third anniversaries of June 1, 2026, subject to Mr. Davis’s continued employment with the Company through the applicable vesting dates.
About Workhorse Group Inc.
Headquartered in the Detroit area with a commercial-scale manufacturing plant in Union City, Indiana, Workhorse (NASDAQ:WKHS) is redefining what a medium-duty truck should be. Workhorse builds software-first, electric trucks, shuttles and buses that are powerful, cost-efficient, reliable, safe and comfortable — all with zero tailpipe emissions. Our deep experience building electric vehicles at scale drives intentional innovations designed to help customers lower operating costs, improve fleet performance, enhance the driver experience, and maximize uptime without compromise. More information is available at www.workhorse.com.
Media Relations Contacts:
Workhorse
John Williams, Communications
+1-206-660-5503, john.williams@workhorse.com
ICR, Inc.
workhorse@icrinc.com
Investor Relations Contact:
ir@workhorse.com
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that are not historical facts, including those regarding the Company's achievement of its priorities and its other plans, objectives, expectations, business strategies, future operations, financial performance, prospects, and other future events or developments, are forward-looking statements. These forward-looking statements are based on management's current expectations, assumptions, and estimates as of the date of this press release and are subject to known and unknown risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties are described in greater detail under the caption "Risk Factors" in the Company's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other filings with the U.S. Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by applicable law.
