Company: WKSP
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022113
Chunk: 30

Company: Worksport Ltd
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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 Company issued the following stock options to various employees and consultants:

  -
  88,600
stock options vesting based on various service periods, with an exercise
price of $3.09
and an expiration date of April
4, 2035

  -
  81,940 stock options vesting based on various service periods, with an exercise price of $3.80 and an expiration
date of July 12, 2035

  -
  76,500 stock options vesting pursuant to performance milestones and an expiration date of July 12, 2035

During
the nine months ended September 30, 2025, the Company issued the following stock options to Steven Rossi:

  -
  30,000
stock options vesting 50% at the end of the first two anniversaries of the grant date, with an exercise price of $3.09
and an expiration date of April
4, 2035

  -
  215,000 stock options vesting 50% at the end of the first two anniversaries of the grant date, with an exercise price
of $3.80, and an expiration date of July 12, 2035.

On
July 23, 2024, the Company engaged in stock option repricing for certain employees, executive officers, and members of the board of directors
of the Company. 538,896 stock options’ exercise prices were repriced to $7.042, and all other criteria were unchanged. As a result
of the modification in exercise prices, the Company recognized additional expense of $93,140 on the date of modification.

During
the year ended December 31, 2024, the Company issued 84,860 stock options to employees and directors with exercise prices ranging from
$5.20 to $14.10 and expiration dates ranging from February 1, 2029 to November 19, 2034. Of these stock options, 2,040 were subsequently
cancelled.

    18

Schedule
of Stock Options Activity

    September 30, 2025  
    December 31, 2024 

    Number of stock options  
    Weighted average price  
    Number of stock options  
    Weighted average price 
  
    Balance, beginning of period 
     579,936  
    $7.14  
     506,386  
    $19.62