secwatch.observer — SEC 8-K summary
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Issuer:     Workhorse Group Inc. (WKHS)
CIK:        0001425287
Form:       8-K
Filed at:   2021-07-29T23:59:59+00:00
Accession:  0001628280-21-014824
Event type: leadership
Sentiment:  negative
Materiality: 0.80
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Workhorse appoints Richard Dauch as CEO; prior CEO Duane Hughes departs; guidance withdrawn
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- Richard Dauch becomes CEO and board member effective Aug 2, 2021; previously CEO of Delphi Technologies.
- Duane Hughes departs as CEO and board member; receives $855,000 severance and transitional role through Sep 30.
- Company withdraws previously stated guidance effective immediately; no replacement guidance provided.
- Dauch receives $1M base salary, 500k restricted shares + $3M stock options as signing bonus, target annual bonus 125% of base.
- Long-term equity incentive target set at 500% of base salary; severance includes up to 3x base + bonus upon change of control.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1425287/000162828021014824/0001628280-21-014824-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1425287/000162828021014824/wkhs-20210726.htm
  HTML page:      https://secwatch.observer/filing/0001628280-21-014824

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer