Corporate GovernanceJul 23, 2026, 04:08 PM
Workhorse Group Approves New Short-Term Incentive Plan for Executives
AI Summary
Workhorse Group Inc. announced that its Human Resource Management and Compensation Committee approved a new Short-Term Incentive Plan (STIP), effective January 1, 2026. The plan aims to motivate and reward executives based on achieving specific performance goals. For 2026, the key metrics are adjusted EBITDA and revenue, each weighted at 50%. The target payout for the CEO, CFO, and Executive Vice President of Operations is set at 50% of their annual base salary, with actual payouts potentially ranging from 0% to 150% of the target.
Key Highlights
- Short-Term Incentive Plan (STIP) approved, effective January 1, 2026.
- STIP performance metrics for 2026 include adjusted EBITDA and revenue, each weighted 50%.
- CEO Scott Griffith's target payout is 50% of annual base salary.
- CFO Jody Davis's target payout is 50% of annual base salary.
- EVP Operations Joshua Anderson's target payout is 50% of annual base salary.
- Actual payouts for 2026 may range from 0% to 150% of target.
Price Impact
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