Company: WKSP
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001641172-25-000850
Chunk: 394

Company: Worksport Ltd
Filing Date: 2025-03-27
Form: 10-K
Item: Item 7
Chunk 394
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Policies
and Practices for Granting Certain Equity Awards

Our
policies and practices regarding the granting of equity awards are carefully designed to ensure compliance with applicable securities
laws and to maintain the integrity of our executive compensation program. The Compensation Committee is responsible for the timing and
terms of equity awards to executives and other eligible employees.

The
timing of equity award grants is determined with consideration to a variety of factors, including but not limited to, the achievement
of pre-established performance targets, market conditions and internal milestones. The Company does not follow a predetermined schedule
for the granting of equity awards; instead, each grant is considered on a case-by-case basis to align with the Company’s strategic
objectives and to ensure the competitiveness of our compensation packages.

In
determining the timing and terms of an equity award, the Board or the Compensation Committee may consider material nonpublic information
to ensure that such grants are made in compliance with applicable laws and regulations. The Board’s or the Compensation Committee’s
procedures to prevent the improper use of material nonpublic information in connection with the granting of equity awards include oversight
by legal counsel and, where appropriate, delaying the grant of equity awards until the public disclosure of such material nonpublic information.

The
Company is committed to maintaining transparency in its executive compensation practices and to making equity awards in a manner that
is not influenced by the timing of the disclosure of material nonpublic information for the purpose of affecting the value of executive
compensation. The Company regularly reviews its policies and practices related to equity awards to ensure they meet the evolving standards
of corporate governance and continue to serve the best interests of the Company and its shareholders.

ITEM
12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

The
following table sets forth certain information regarding the beneficial ownership of our common stock as of the date of this report by
(a) each shareholder who is known to us to beneficially own more than 5% of our common stock, (b) directors, (c) our executive officers,
and (d) all executive officers and directors as a group. Beneficial ownership is determined according to the SEC rules, and generally
means that person has beneficial ownership of a security if he or she possesses sole or shared voting or investment power of that security
and includes options, warrants and other securities convertible or exercisable into shares of common stock, provided that such securities
are currently exercisable or convertible within 60 days of March