CFO Schrader departs Workhorse; $200K severance under separation agreement

Workhorse Group Inc.

Chief Financial Officer Steve Schrader left Workhorse on Sept 29, 2021 after non-renewal of employment agreement.
Separation agreement signed Oct 6, 2021 provides $200,000 total consideration.
Payment: $100,000 within 10 days after effective date; $100,000 on or before Dec 18, 2021.
Agreement includes release of claims and reaffirmation of restrictive covenants.

item 5.02 item 9.01

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Departed

Steve Schrader

Chief Financial Officer

WKHS · Workhorse Group Inc.

Effective: 2021-09-29
Filed: October 12, 2021, 7:59 PM ET

As previously reported, on September 29, 2021, Workhorse Group Inc. (the “Company”) informed Steve Schrader, the Company’s then Chief Financial Officer, that the Company would not be renewing his employment agreement and Mr. Schrader left the Company that day.

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Executive change SEC 8-K Item 5.02 confidence 0.95

Steve Schrader departed as Chief Financial Officer at Workhorse Group Inc..

Action: left
Role: Chief Financial Officer

Exact text from the filing

As previously reported, on September 29, 2021, Workhorse Group Inc. (the “Company”) informed Steve Schrader, the Company’s then Chief Financial Officer, that the Company would not be renewing his employment agreement and Mr. Schrader left the Company that day.

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Workhorse Group Inc. filing history →

Source: SEC EDGAR

accession 0001213900-21-052414

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