Workhorse Group Inc. — Form 8-K Summary
Filing date and event: July 13, 2026. This current report covers executive appointments and departures; it does not report results for a fiscal quarter or year.
Business context and management changes
The filing describes leadership transitions associated with commitments made in connection with Workhorse’s acquisition of Motiv Power Systems. Robert M. Ginnan ceased serving as Chief Financial Officer and Principal Financial Officer on July 13, 2026, and is to remain employed through July 17 to assist with the transition. He is eligible for severance under his employment agreement.
- Jody Davis was appointed Chief Financial Officer and Principal Financial Officer, effective July 13, 2026.
- Lindsay A. Barnes, previously Workhorse’s Vice President, Corporate Controller, was appointed Chief Accounting Officer and Principal Accounting Officer, effective July 13, 2026. The filing says her compensation does not change as a result.
Financial metrics and material comparisons
This filing provides no revenue, profit, cash flow, margin, debt, liquidity, or other operating results, and no comparable-period figures. It also provides no financial guidance or outlook.
Compensation, contingencies, and other notable items
- Davis’s initial annual base salary is $375,000, subject to annual review; his target bonus is 50% of base salary and is subject to committee discretion and performance goals.
- Subject to Board approval, Davis is to receive an inducement award of restricted stock units representing 93,750 common shares. The award is subject to a new hire inducement plan to be adopted by the Board and is described as vesting in three equal annual installments beginning on the first grant anniversary, subject to continued service.
- Following a change of control, Davis may be eligible for severance of up to six months of base salary and target bonus, plus accelerated vesting of outstanding equity awards, as described in the filing.
- The filing identifies no other arrangement or material related-party interest concerning Davis or Barnes. It does not provide a dollar amount for Ginnan’s severance benefits.
Investor verification points
- Review Exhibit 10.1, Davis’s employment agreement, for the full terms and any provisions not captured in the filing’s summary.
- Verify Board approval and final terms of the proposed 93,750-share inducement award and new hire plan.
- Confirm Ginnan’s final employment date and the severance benefits payable under his amended employment agreement.