Corporate ActionSep 28, 2026, 04:24 PM
Workhorse Group Inc. Adopts Incentive Plan, Grants Awards to CEO & CFO
AI Summary
Workhorse Group Inc. has adopted the Value Creation Incentive Plan (VCIP) and granted performance awards to its CEO, Scott Griffith, and CFO, Jody Davis. The VCIP allows for performance awards based on achieving specific financial goals over a three-to-five-year period, payable in cash or stock. Mr. Griffith has a target award of $15 million, and Mr. Davis has a target award of $6.5 million, with a performance period from October 1, 2026, to September 30, 2031. The performance goals are tied to revenue, gross margin, operating cash flow, and enterprise equity value.
Key Highlights
- Workhorse Group Inc. adopted the Value Creation Incentive Plan (VCIP) for executive officers and employees.
- CEO Scott Griffith and CFO Jody Davis granted performance awards under the VCIP.
- Target award for CEO Scott Griffith is $15 million.
- Target award for CFO Jody Davis is $6.5 million.
- Performance period for awards is October 1, 2026, to September 30, 2031.
- Performance goals include annualized GAAP revenue, positive gross margin, positive operating cash flow, and enterprise equity value.
Price Impact
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