SEC Form 3
FORM 3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES


Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person*
Motive GM Holdings II, LLC
(Last) (First) (Middle)
4643 SOUTH ULSTER STREET
SUITE 1400
(Street)
DENVER CO 80237
(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
12/15/2025 		3. Issuer Name and Ticker or Trading Symbol
Workhorse Group Inc. [ WKHS ]
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
5. If Amendment, Date of Original Filed (Month/Day/Year)
12/29/2025
6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock 6,629,800 D(1)(2)(3)
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4) 2. Date Exercisable and Expiration Date (Month/Day/Year) 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 6. Nature of Indirect Beneficial Ownership (Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
1. Name and Address of Reporting Person*
Motive GM Holdings II, LLC
(Last) (First) (Middle)
4643 SOUTH ULSTER STREET
SUITE 1400
(Street)
DENVER CO 80237
(City) (State) (Zip)
1. Name and Address of Reporting Person*
MAGNESS GARY D
(Last) (First) (Middle)
4643 SOUTH ULSTER STREET
SUITE 1400
(Street)
DENVER CO 80237
(City) (State) (Zip)
1. Name and Address of Reporting Person*
GMIT Lending Company, LLC
(Last) (First) (Middle)
4643 SOUTH ULSTER STREET
SUITE 1400
(Street)
DENVER CO 80237
(City) (State) (Zip)
Explanation of Responses:
1. Mr. Magness serves as the managing member (and in such capacity may be deemed to beneficially own the securities reported herein). Voting and dispositive power over the securities owned by Motive GM Holdings II LLC is exercised by in his capacity as manager.
2. GMIT Lending Company, LLC, for which Mr. Magness also serves as manager, may be deemed to beneficially own the securities reported herein by virtue of its management structure. Each Reporting Person disclaims beneficial ownership of the securities reported except to the extent of its or his pecuniary interest therein.
3. The inclusion of the securities reported herein shall not be deemed an admission of beneficial ownership by any Reporting Person for Section 16 or any other purpose.
Remarks:
This Form 3 is filed jointly by the Reporting Persons pursuant to the Joint Filing Agreement filed as Exhibit 99.1.
By: /s/ Gary Magness, Motive GM Holdings II LLC 01/22/2026
By: /s/ Gary Magness 01/22/2026
By: /s/ Gary Magness, Motive GMIT Lending Company, LLC 01/22/2026
** Signature of Reporting Person Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

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