Company: WKSP
Filing Date: 2025-10-31
Form Type: DEF 14A
Source: 0001493152-25-020401
Chunk: 38

Company: Worksport Ltd
Filing Date: 2025-10-31
Form: DEF 14A
Chunk 38
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ENT AUDITOR OF THE COMPANY FOR THE FISCAL YEAR ENDING DECEMBER 31, 2025 UNDER PROPOSAL No. 2.

PROPOSAL No. 3: APPROVAL AND RATIFICATION OF CERTAIN NON-PLAN STOCK OPTION GRANTS PREVIOUSLY APPROVED BY THE BOARD OF DIRECTORS IN ACCORDANCE WITH NASDAQ LISTING RULE 5635(c)

On July 12, 2025, the Board approved certain stock option grants to officers, directors, employees, and consultants of the Company (the “Non-Plan Grants”). These options were granted outside of the Company’s 2022 Equity Incentive Plan (the “Plan”) to recognize and retain key individuals who have made important contributions to the Company’s growth. Each Non-Plan Grant provides the right to purchase shares of the Company’s common stock at an exercise price equal to the fair market value on the date of grant. The options are subject to vesting conditions and will not become exercisable unless and until stockholders approve this proposal.

Under Nasdaq Listing Rule 5635(c), shareholder approval is required for equity awards made outside a shareholder-approved plan. This proposal seeks stockholder approval and ratification of the Non-Plan Grants to comply with Nasdaq’s requirements and confirm that the options are valid and exercisable.

Purpose and Effect

The Board believes the Non-Plan Grants were appropriate and in the best interests of the Company and its stockholders. These awards help the Company attract, motivate, and retain experienced executives, directors, and consultants, and align their interests with those of stockholders through long-term equity ownership. Approval of this proposal will bring the Company into full compliance with Nasdaq’s listing rules and confirm that the Non-Plan Grants are exercisable according to their terms.

If stockholders do not approve this proposal, the Non-Plan Grants will remain outstanding but may not be exercised unless and until approval is obtained.

No Additional Shares

This proposal does not increase the Company’s authorized share capital and does not change the terms of the 2022 Equity Incentive Plan. Approval of this proposal will not result in additional dilution beyond what is already authorized.

Vote Required

Approval of this proposal requires the affirmative vote of a majority of the votes cast at the Annual Meeting, provided that a quorum is present. Abstentions and broker non-votes will have no effect on the outcome.

<div align='center'>RECOMMENDATION OF THE BOARD OF DIRECTORS</div>

THE BOARD OF DIRECTORS UN