Company: WKSP
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010837
Chunk: 60

Company: Worksport Ltd
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 60
---
    September 20, 2029
  
    $6.502  
     1,424,500  
     5.41  
    August 27, 2030
  
    $4.00  
     190,000  
     4.48  
    September 21, 2029

     2,414,526  
     4.99  

The
average remaining contractual life of outstanding warrants that expire is 4.99 years.

Schedule
of Warrants Activity

    March 31, 2025  
    December 31, 2024 

    Number of warrants  
    Weighted average price  
    Number of warrants  
    Weighted average price 
  
    Balance, beginning of year 
     2,291,276  
    $6.35  
     1,162,792  
    $24.20 
  
    Issuance 
     1,424,500  
    $6.50  
     2,402,815  
    $5.49 
  
    Expired 
     (6,250) 
    $24.00  
     (357,742) 
    $60.50 
  
    Exercise 
     (1,295,000) 
    $5.20  
     (916,589) 
    $(3.97)
  
    Balance, end of period 
     2,414,526  
    $7.01  
     2,291,276  
    $6.35 

16.
Equity Compensation

Under
the Company’s 2015, 2021 and 2022 Equity Incentive Plans, the number of shares of common stock reserved for issuance under the
option plan shall not exceed 10% of the issued and outstanding shares of common stock of the Company, have a maximum term of 10 years,
and vest at the discretion of the Board of Directors.

All
equity-settled, share-based payments are ultimately recognized as an expense in the statement of operations with a corresponding credit
to “Additional Paid in Capital.” If vesting periods or other non-market vesting conditions apply, the expense is allocated
over the vesting period, based on the best available estimate of the number of share options expected to vest. Estimates are subsequently
revised if there is any indication that the number