Workhorse Reports Inducement Grant under NASDAQ Listing Rule 5635(c)(4)

DETROIT, Aug. 04, 2026 (GLOBE NEWSWIRE) -- Workhorse Group Inc. (NASDAQ: WKHS) (“Workhorse” or the “Company”), an American Industrial Technology company today announced that on August 3, 2026, the Human Resource Management and Compensation Committee of the Company’s Board of Directors (the “Committee”) granted 56,250 restricted stock units (RSU) to one new non-executive employee under the Inducement Plan. The award was granted as an inducement material to the non-executive employee entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).  

The RSU will vest over a three-year period, in three equal installments on the first, second and third anniversaries of June 1, 2026, subject to the non-executive employee’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 an American Industrial Technology company specializing in electrification, high-voltage systems integration, mobility platforms, ruggedized mobile platform manufacturing, distributed energy systems, and deployable industrial infrastructure. We manufacture durable, reliable and high-performing vehicles and infrastructure for mission-critical applications deployed in the world’s most demanding operating environments. 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.