Company: WKSP
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022113
Chunk: 77

Company: Worksport Ltd
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 77
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choles option pricing model to determine fair value of stock options on the grant date.

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

  -
  10,000
stock options vesting ratably over two years, with an exercise price of $5.95
and an expiration date of March
7, 2035

  -
  14,000 stock options vesting ratably over two years, with an exercise price of $3.09 and an expiration date of April
4, 2035

  -
  30,000 stock options vesting ratably over two years, with an exercise price of $3.80 and an expiration date of July
12, 2035

  -
  50,000 stock options vesting pursuant to a performance milestone and an expiration date of July 12, 2035

During
the nine months ended September 30, 2025, the 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 $