Workhorse Group Inc. 8-K

What Happened Workhorse Group Inc. announced on July 13, 2026 that long-time Chief Financial Officer Robert M. Ginnan will no longer serve as CFO effective July 13, 2026 and will remain employed through July 17, 2026 to assist with the transition. The company appointed Jody Davis as Chief Financial Officer (principal financial officer) effective immediately. The filing notes these leadership changes were previously disclosed in the company's October 8, 2025 proxy in connection with Workhorse’s acquisition of Motiv Power Systems. The company also appointed Lindsay A. Barnes as Chief Accounting Officer (principal accounting officer) effective July 13, 2026; Ms. Barnes had been Vice President, Corporate Controller since November 2025.

Key Details

• Effective dates: changes announced and effective July 13, 2026; Mr. Ginnan’s employment ends July 17, 2026.
• Jody Davis compensation: initial base salary $375,000; target bonus 50% of base salary; inducement grant of 93,750 restricted stock units (RSUs) subject to a new hire plan and vesting in three equal annual installments beginning one year after grant.
• Severance/acceleration for Davis: after a change of control, eligible for up to six months of aggregate base salary plus target bonus and immediate acceleration of outstanding equity awards.
• Robert Ginnan: eligible for severance under his Amended and Restated Second Amendment to Employment Agreement dated December 15, 2025.
• Lindsay Barnes: promoted to Chief Accounting Officer with no current change to her compensation; she is a CPA with extensive accounting experience.

Why It Matters This 8-K reports a key finance leadership transition during Workhorse’s announced acquisition activities. Investors should note the new CFO’s compensation and inducement RSU grant (93,750 shares), which represent potential future dilution and include acceleration protections on a change of control. The filing also documents severance exposure under existing agreements. The appointment of an internal controller as Chief Accounting Officer suggests continuity in accounting oversight, while the outgoing CFO will remain briefly to support the handover.