Company: WKSP
Filing Date: 2025-10-20
Form Type: PRE 14A
Source: 0001493152-25-018681
Chunk: 23

Company: Worksport Ltd
Filing Date: 2025-10-20
Form: PRE 14A
Chunk 23
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3) Steven Rossi’s gross salary in 2023 was $327,998 ($442,615 CAD), which includes his base compensation plus an 8% vacation payout per paycheck. He additionally received $45,786 ($61,786 CAD) in vacation payouts accrued prior to 2023. He also received contributions towards health, dental, and vision coverage equaling $686 ($926 CAD) in the same year. The payments were made in CAD, of which was converted to USD using the 2023 average exchange rate of 0.741045.

(4) On July 26, 2024, the exercise price of certain stock options was updated. The incremental fair values at the date of modification were $10,500 and $29,800 for 5,000 NQSOs granted on July 21, 2023 and 10,000 NQSOs granted on August 6, 2021, respectively. The remaining stock options with updated exercise prices did not have an incremental fair value.

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(5) On May 1, 2023, we granted Steven Rossi 200,000 NQSOs with a fair value per option of $17.38 and a vesting schedule based on market capitalization, of which 20% has vested as of December 31, 2024. On July 21, 2023, we granted Steven Rossi 5,000 NQSOs with a fair value per option of $35.79 to be vested 50% one year from grant date and 50% two years from grant date. On October 31, 2023, we granted Steven Rossi 150,000 ISOs with a fair value per option of $14.38 to be vested upon completion of revenue milestones, of which 20% has vested as of December 31, 2024.

(6) We accrued $70,000 in unpaid billing related to services performed by UHY Forbes Anderson, an accounting firm based in Ontario, Canada and managed by Worksport’s Chief Financial Officer, Michael Johnston, during the year ended December 31, 2024.

(7) We accrued $29,649 in unpaid billing related to services performed by UHY Forbes Anderson during the year ended December 31, 2023.

(8) We paid UHY Forbes Anderson $147,882 ($199,559 CAD) during the year ended December 31, 2023. The payments were made in CAD and were