401k Plan data: NIKOLA CORPORATION 401 K PROFIT SHARING PLAN TRUST plan

NIKOLA CORPORATION 401 K PROFIT SHARING PLAN TRUST 401k Plan overview

Plan Name	NIKOLA CORPORATION 401 K PROFIT SHARING PLAN TRUST
Plan identification number	001

NIKOLA CORPORATION 401 K PROFIT SHARING PLAN TRUST Benefits

401k Plan Type

Defined Contribution Pension

Plan Features/Benefits

Age/Service Weighted or new comparability or similar plan - Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New comparability or similar plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the theshold or additional rate exceeds the maximum threshold or rate allowed under the permitted disparity rules of section 401(l).
Profit-sharing
ERISA section 404(c) Plan - This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
Total participant-directed account plan - Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
Code section 401(k) feature - A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
Code section 401(m) arrangement - Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contribtions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
Master plan - A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion letter; and for which a single funding medium (for example, a trust or custodial account) is established for the joint use of all adopting employers.

401k Sponsoring company profile

NIKOLA CORPORATION has sponsored the creation of one or more 401k plans.

Company Name: NIKOLA CORPORATION

Employer identification number (EIN): 822361876

NAIC Classification: 333610

Form 5500 Filing Information

Submission information for form 5500 for 401k plan NIKOLA CORPORATION 401 K PROFIT SHARING PLAN TRUST

Plan id# Filing Submission Date Name of Administrator Date Administrator Signed Name of Company Sponsor Date Sponsor Signed
001 2022-01-01 SHAWN T. PARKER, CPC, QPA, ERPA 2023-10-13
001 2021-01-01 SHAWN T. PARKER, CPC, QPA, ERPA 2022-10-11
001 2020-01-01 SHAWN T. PARKER, CPC, QPA, ERPA 2021-10-15
001 2019-01-01
001 2018-01-01 TONY EPPERSON 2019-06-17
001 2017-01-01 TONY EPPERSON 2018-06-20
001 2017-01-01 TONY EPPERSON 2018-08-03

Plan id#	Filing Submission Date	Name of Administrator	Date Administrator Signed
001	2022-01-01	SHAWN T. PARKER, CPC, QPA, ERPA	2023-10-13
001	2021-01-01	SHAWN T. PARKER, CPC, QPA, ERPA	2022-10-11
001	2020-01-01	SHAWN T. PARKER, CPC, QPA, ERPA	2021-10-15
001	2019-01-01
001	2018-01-01	TONY EPPERSON	2019-06-17
001	2017-01-01	TONY EPPERSON	2018-06-20
001	2017-01-01	TONY EPPERSON	2018-08-03

Plan Statistics for NIKOLA CORPORATION 401 K PROFIT SHARING PLAN TRUST

401k plan membership statisitcs for NIKOLA CORPORATION 401 K PROFIT SHARING PLAN TRUST

Measure Date Value
2022: NIKOLA CORPORATION 401 K PROFIT SHARING PLAN TRUST 2022 401k membership
Total participants, beginning-of-year 2022-01-01 902
Total number of active participants reported on line 7a of the Form 5500 2022-01-01 1,174
Number of retired or separated participants receiving benefits 2022-01-01 0
Number of other retired or separated participants entitled to future benefits 2022-01-01 144
Total of all active and inactive participants 2022-01-01 1,318
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2022-01-01 0
Total participants 2022-01-01 1,318
Number of participants with account balances 2022-01-01 1,317
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2022-01-01 0
2021: NIKOLA CORPORATION 401 K PROFIT SHARING PLAN TRUST 2021 401k membership
Total participants, beginning-of-year 2021-01-01 455
Total number of active participants reported on line 7a of the Form 5500 2021-01-01 782
Number of retired or separated participants receiving benefits 2021-01-01 0
Number of other retired or separated participants entitled to future benefits 2021-01-01 88
Total of all active and inactive participants 2021-01-01 870
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2021-01-01 0
Total participants 2021-01-01 870
Number of participants with account balances 2021-01-01 831
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2021-01-01 0
2020: NIKOLA CORPORATION 401 K PROFIT SHARING PLAN TRUST 2020 401k membership
Total participants, beginning-of-year 2020-01-01 223
Total number of active participants reported on line 7a of the Form 5500 2020-01-01 415
Number of retired or separated participants receiving benefits 2020-01-01 28
Number of other retired or separated participants entitled to future benefits 2020-01-01 0
Total of all active and inactive participants 2020-01-01 443
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2020-01-01 0
Total participants 2020-01-01 443
Number of participants with account balances 2020-01-01 411
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2020-01-01 0

Measure	Date	Value
2022: NIKOLA CORPORATION 401 K PROFIT SHARING PLAN TRUST 2022 401k membership
Total participants, beginning-of-year	2022-01-01	902
Total number of active participants reported on line 7a of the Form 5500	2022-01-01	1,174
Number of retired or separated participants receiving benefits	2022-01-01	0
Number of other retired or separated participants entitled to future benefits	2022-01-01	144
Total of all active and inactive participants	2022-01-01	1,318
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2022-01-01	0
Total participants	2022-01-01	1,318
Number of participants with account balances	2022-01-01	1,317
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2022-01-01	0
2021: NIKOLA CORPORATION 401 K PROFIT SHARING PLAN TRUST 2021 401k membership
Total participants, beginning-of-year	2021-01-01	455
Total number of active participants reported on line 7a of the Form 5500	2021-01-01	782
Number of retired or separated participants receiving benefits	2021-01-01	0
Number of other retired or separated participants entitled to future benefits	2021-01-01	88
Total of all active and inactive participants	2021-01-01	870
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2021-01-01	0
Total participants	2021-01-01	870
Number of participants with account balances	2021-01-01	831
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2021-01-01	0
2020: NIKOLA CORPORATION 401 K PROFIT SHARING PLAN TRUST 2020 401k membership
Total participants, beginning-of-year	2020-01-01	223
Total number of active participants reported on line 7a of the Form 5500	2020-01-01	415
Number of retired or separated participants receiving benefits	2020-01-01	28
Number of other retired or separated participants entitled to future benefits	2020-01-01	0
Total of all active and inactive participants	2020-01-01	443
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2020-01-01	0
Total participants	2020-01-01	443
Number of participants with account balances	2020-01-01	411
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2020-01-01	0

Financial Data on NIKOLA CORPORATION 401 K PROFIT SHARING PLAN TRUST

Measure	Date	Value
2022 : NIKOLA CORPORATION 401 K PROFIT SHARING PLAN TRUST 2022 401k financial data
Total unrealized appreciation/depreciation of assets	2022-12-31	$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2022-12-31	$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2022-12-31	$0
Total income from all sources (including contributions)	2022-12-31	$12,956,014
Total loss/gain on sale of assets	2022-12-31	$0
Total of all expenses incurred	2022-12-31	$1,574,424
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2022-12-31	$1,574,424
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2022-12-31	$16,280,837
Value of total assets at end of year	2022-12-31	$27,146,878
Value of total assets at beginning of year	2022-12-31	$15,765,288
Total of administrative expenses incurred including professional, contract, advisory and management fees	2022-12-31	$0
Total interest from all sources	2022-12-31	$15,139
Total dividends received (eg from common stock, registered investment company shares)	2022-12-31	$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2022-12-31	No
Was this plan covered by a fidelity bond	2022-12-31	Yes
Value of fidelity bond cover	2022-12-31	$1,000,000
If this is an individual account plan, was there a blackout period	2022-12-31	No
Were there any nonexempt tranactions with any party-in-interest	2022-12-31	No
Contributions received from participants	2022-12-31	$8,810,708
Participant contributions at end of year	2022-12-31	$435,168
Participant contributions at beginning of year	2022-12-31	$248,474
Income. Received or receivable in cash from other sources (including rollovers)	2022-12-31	$4,061,264
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year	2022-12-31	$0
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year	2022-12-31	$0
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2022-12-31	No
Value of net income/loss	2022-12-31	$11,381,590
Value of net assets at end of year (total assets less liabilities)	2022-12-31	$27,146,878
Value of net assets at beginning of year (total assets less liabilities)	2022-12-31	$15,765,288
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2022-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2022-12-31	No
Were any leases to which the plan was party in default or uncollectible	2022-12-31	No
Value of interest in registered invesment companies (eg mutual funds) at end of year	2022-12-31	$25,823,016
Value of interest in registered invesment companies (eg mutual funds) at beginning of year	2022-12-31	$15,516,814
Interest on participant loans	2022-12-31	$15,139
Value of interest in common/collective trusts at end of year	2022-12-31	$57,206
Value of interest in common/collective trusts at beginning of year	2022-12-31	$0
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year	2022-12-31	$831,488
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year	2022-12-31	$0
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year	2022-12-31	$0
Net investment gain/loss from pooled separate accounts	2022-12-31	$-3,339,962
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2022-12-31	No
Was there a failure to transmit to the plan any participant contributions	2022-12-31	No
Has the plan failed to provide any benefit when due under the plan	2022-12-31	No
Contributions received in cash from employer	2022-12-31	$3,408,865
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2022-12-31	$1,574,424
Did the plan have assets held for investment	2022-12-31	Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser	2022-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2022-12-31	No
Opinion of an independent qualified public accountant for this plan	2022-12-31	Unqualified
Accountancy firm name	2022-12-31	METZ & ASSOCIATES, PLLC
Accountancy firm EIN	2022-12-31	464558541
2021 : NIKOLA CORPORATION 401 K PROFIT SHARING PLAN TRUST 2021 401k financial data
Total unrealized appreciation/depreciation of assets	2021-12-31	$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2021-12-31	$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2021-12-31	$0
Total income from all sources (including contributions)	2021-12-31	$13,237,607
Total loss/gain on sale of assets	2021-12-31	$0
Total of all expenses incurred	2021-12-31	$1,338,852
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2021-12-31	$1,332,412
Expenses. Certain deemed distributions of participant loans	2021-12-31	$938
Value of total corrective distributions	2021-12-31	$2,209
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2021-12-31	$11,884,508
Value of total assets at end of year	2021-12-31	$15,765,288
Value of total assets at beginning of year	2021-12-31	$3,866,533
Total of administrative expenses incurred including professional, contract, advisory and management fees	2021-12-31	$3,293
Total interest from all sources	2021-12-31	$5,167
Total dividends received (eg from common stock, registered investment company shares)	2021-12-31	$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2021-12-31	No
Was this plan covered by a fidelity bond	2021-12-31	Yes
Value of fidelity bond cover	2021-12-31	$1,000,000
If this is an individual account plan, was there a blackout period	2021-12-31	No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities	2021-12-31	$0
Were there any nonexempt tranactions with any party-in-interest	2021-12-31	No
Contributions received from participants	2021-12-31	$5,119,215
Participant contributions at end of year	2021-12-31	$248,474
Participant contributions at beginning of year	2021-12-31	$56,421
Income. Received or receivable in cash from other sources (including rollovers)	2021-12-31	$4,793,191
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year	2021-12-31	$0
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year	2021-12-31	$0
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2021-12-31	No
Value of net income/loss	2021-12-31	$11,898,755
Value of net assets at end of year (total assets less liabilities)	2021-12-31	$15,765,288
Value of net assets at beginning of year (total assets less liabilities)	2021-12-31	$3,866,533
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2021-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2021-12-31	No
Were any leases to which the plan was party in default or uncollectible	2021-12-31	No
Investment advisory and management fees	2021-12-31	$3,293
Value of interest in registered invesment companies (eg mutual funds) at end of year	2021-12-31	$15,516,814
Value of interest in registered invesment companies (eg mutual funds) at beginning of year	2021-12-31	$3,713,743
Interest on participant loans	2021-12-31	$5,167
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year	2021-12-31	$0
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year	2021-12-31	$96,369
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year	2021-12-31	$96,369
Net investment gain/loss from registered investment companies (e.g. mutual funds)	2021-12-31	$1,347,932
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2021-12-31	No
Was there a failure to transmit to the plan any participant contributions	2021-12-31	No
Has the plan failed to provide any benefit when due under the plan	2021-12-31	No
Contributions received in cash from employer	2021-12-31	$1,972,102
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2021-12-31	$1,332,412
Did the plan have assets held for investment	2021-12-31	Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser	2021-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2021-12-31	No
Opinion of an independent qualified public accountant for this plan	2021-12-31	Unqualified
Accountancy firm name	2021-12-31	METZ & ASSOCIATES, PLLC
Accountancy firm EIN	2021-12-31	464558541
2020 : NIKOLA CORPORATION 401 K PROFIT SHARING PLAN TRUST 2020 401k financial data
Total unrealized appreciation/depreciation of assets	2020-12-31	$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2020-12-31	$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2020-12-31	$0
Total income from all sources (including contributions)	2020-12-31	$2,953,383
Total loss/gain on sale of assets	2020-12-31	$0
Total of all expenses incurred	2020-12-31	$106,956
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2020-12-31	$85,580
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2020-12-31	$2,518,322
Value of total assets at end of year	2020-12-31	$3,866,533
Value of total assets at beginning of year	2020-12-31	$1,020,106
Total of administrative expenses incurred including professional, contract, advisory and management fees	2020-12-31	$21,376
Total interest from all sources	2020-12-31	$278
Total dividends received (eg from common stock, registered investment company shares)	2020-12-31	$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2020-12-31	No
Was this plan covered by a fidelity bond	2020-12-31	Yes
Value of fidelity bond cover	2020-12-31	$1,000,000
If this is an individual account plan, was there a blackout period	2020-12-31	Yes
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities	2020-12-31	$0
Were there any nonexempt tranactions with any party-in-interest	2020-12-31	No
Contributions received from participants	2020-12-31	$2,132,726
Participant contributions at end of year	2020-12-31	$56,421
Participant contributions at beginning of year	2020-12-31	$0
Income. Received or receivable in cash from other sources (including rollovers)	2020-12-31	$385,596
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year	2020-12-31	$0
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year	2020-12-31	$0
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2020-12-31	No
Value of net income/loss	2020-12-31	$2,846,427
Value of net assets at end of year (total assets less liabilities)	2020-12-31	$3,866,533
Value of net assets at beginning of year (total assets less liabilities)	2020-12-31	$1,020,106
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2020-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2020-12-31	No
Were any leases to which the plan was party in default or uncollectible	2020-12-31	No
Investment advisory and management fees	2020-12-31	$21,376
Value of interest in registered invesment companies (eg mutual funds) at end of year	2020-12-31	$3,713,743
Value of interest in registered invesment companies (eg mutual funds) at beginning of year	2020-12-31	$1,020,106
Interest on participant loans	2020-12-31	$278
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year	2020-12-31	$96,369
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year	2020-12-31	$0
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year	2020-12-31	$0
Net investment gain/loss from registered investment companies (e.g. mutual funds)	2020-12-31	$434,783
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2020-12-31	Yes
Was there a failure to transmit to the plan any participant contributions	2020-12-31	No
Has the plan failed to provide any benefit when due under the plan	2020-12-31	No
Employer contributions (assets) at end of year	2020-12-31	$0
Employer contributions (assets) at beginning of year	2020-12-31	$0
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2020-12-31	$85,580
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-3	2020-12-31	Yes
Did the plan have assets held for investment	2020-12-31	Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser	2020-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2020-12-31	No
Opinion of an independent qualified public accountant for this plan	2020-12-31	Disclaimer
Accountancy firm name	2020-12-31	METZ & ASSOCIATES, PLLC
Accountancy firm EIN	2020-12-31	464558541

Form 5500 Responses for NIKOLA CORPORATION 401 K PROFIT SHARING PLAN TRUST

2022: NIKOLA CORPORATION 401 K PROFIT SHARING PLAN TRUST 2022 form 5500 responses
2022-01-01	Type of plan entity	Single employer plan
2022-01-01	Submission has been amended	No
2022-01-01	This submission is the final filing	No
2022-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2022-01-01	Plan is a collectively bargained plan	No
2022-01-01	Plan funding arrangement – Trust	Yes
2022-01-01	Plan benefit arrangement - Trust	Yes
2021: NIKOLA CORPORATION 401 K PROFIT SHARING PLAN TRUST 2021 form 5500 responses
2021-01-01	Type of plan entity	Single employer plan
2021-01-01	Submission has been amended	No
2021-01-01	This submission is the final filing	No
2021-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2021-01-01	Plan is a collectively bargained plan	No
2021-01-01	Plan funding arrangement – Trust	Yes
2021-01-01	Plan benefit arrangement - Trust	Yes
2020: NIKOLA CORPORATION 401 K PROFIT SHARING PLAN TRUST 2020 form 5500 responses
2020-01-01	Type of plan entity	Single employer plan
2020-01-01	Submission has been amended	No
2020-01-01	This submission is the final filing	No
2020-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2020-01-01	Plan is a collectively bargained plan	No
2020-01-01	Plan funding arrangement – Trust	Yes
2020-01-01	Plan benefit arrangement - Trust	Yes

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Company Name:	NIKOLA CORPORATION
Employer identification number (EIN):	822361876
NAIC Classification:	333610