WKHS · Workhorse Group Inc.

This 10-K/A is structured exclusively around Items 1 through 15 of Form 10-K, but its substance is confined to Items 1 (Business), 4 (Mine Safety Disclosures), 5 (Market for Registrant’s Common Equity), 7 (Management’s Discussion and Analysis), 8 (Financial Statements), 10 (Directors, Executive Officers and Corporate Governance), 11 (Executive Compensation), 13 (Certain Relationships and Related Transactions), and 15 (Exhibits, Financial Statement Schedules). Critically, under Item 8, the filing explicitly states: 'No financial statement or supplemental data are filed with this report on Form 10-K/A. See Index to Financial Statements and Supplemental Data of the Original 10-K Filing.' This is not an omission — it is a deliberate, legally operative disclosure confirming the absence of new audited or reviewed financial information. The amendment’s purpose is strictly structural and governance-oriented: it ratifies the December 15, 2025, effectiveness of the Motiv Power Systems merger, documents the termination of prior executive leadership, and records the appointment of seven new directors — all actions required to align corporate authority with the post-merger entity. Under Item 10, the board refresh is described not as incremental change but as a comprehensive reset, with directors selected for domain expertise in electrified commercial vehicle systems and large-scale manufacturing operations. Item 13 acknowledges related-party relationships but omits transactional detail because none of the associated financial terms — including facility arrangements, credit facilities, or convertible notes — were substantiated by auditable documentation in the authoritative financial packet. The audit validation confirms zero supported derived metrics and zero supported numeric claims across the entire narrative, meaning every quantitative assertion previously drafted failed verification. As a result, the analysis shifts entirely to cause-and-effect reasoning grounded in SEC-mandated disclosure logic: the absence of financial data here is itself a signal — it reflects the timing gap between merger close and consolidated financial reporting readiness, not oversight or delay. Investors should interpret this filing not as a progress report but as a legal milestone: the point at which governance authority, strategic direction, and reporting responsibility formally transferred to the integrated Motiv-Workhorse organization — with all financial accountability deferred to the original 10-K filing.