Company: WKSP
Filing Date: 2025-03-21
Form Type: 8-K
Source: 0001493152-25-011167
Chunk: 0

Company: Worksport Ltd
Filing Date: 2025-03-21
Form: 8-K
Item: Item 5.03
Chunk 0
---
Item
5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.

Worksport
Ltd, a Nevada corporation (the “ Company”), filed a Certificate of Change to its Articles of Incorporation with the Nevada
Secretary of State (the “ Certificate of Change”) to effect a reverse split of the Company’s outstanding shares of common
stock, par value $0.0001 per share (the “ Common Stock”), at a ratio of 1-for-10 (the “ Reverse Stock Split”),
on March 18, 2025, and simultaneously decrease the total number of authorized shares of Common Stock at the same ratio as the Reverse
Stock Split. The Certificate of Change has no effect on the par value of the Common Stock.

Pursuant
to the Certificate of Change, every ten (10) shares of the Company’s Common Stock issued and outstanding or held in treasury (if
any) immediately prior to the effectiveness of the Reverse Stock Split shall be automatically reclassified as and combined, without further
action, into one (1) validly issued, fully paid and nonassessable share of Common Stock, par value $0.0001 per share. No fractional shares
were issued in connection with the Reverse Stock Split; but rather, the Company issued one whole share of the post-Reverse Stock Split
Common Stock to any stockholder who otherwise would have received a fractional share as a result of the Reverse Stock Split.

The
Common Stock began trading on a Reverse Stock Split-adjusted basis on The Nasdaq Capital Market when the market opened on March 18, 2025.
The trading symbol for the Common Stock remains “ WKSP.” The Common Stock was assigned a new CUSIP number (98139Q308) following
the Reverse Stock Split.

The
Company has adjusted the number of shares available for future grant under its equity incentive plans and has also adjusted the number
of outstanding awards, the exercise price per share of outstanding stock options and other terms of outstanding awards issued to reflect
the effects of the Reverse Stock Split.

The
foregoing description of the Reverse Stock Split does not purport to be complete and is qualified in its entirety by reference to the
complete text of the Certificate of Change, a copy of which is filed with this report as Exhibit 3.1 and is incorporated into this report
by reference.

Item
9.01 Financial Statements and Exhibits.