Company: WKSP
Filing Date: 2025-10-31
Form Type: DEF 14A
Source: 0001493152-25-020401
Chunk: 23

Company: Worksport Ltd
Filing Date: 2025-10-31
Form: DEF 14A
Chunk 23
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 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 converted to USD using the 2023 average exchange rate of 0.741045.

(9) Lorenzo Rossi’s gross compensation in 2024 was $211,814 ($290,065 CAD). He additionally received contributions towards health, dental, and vision coverage equaling $3,138 ($4,297 CAD) in the same year. The payments were made in CAD, which was converted to USD using the 2024 average exchange rate of 0.730228.

(10) We accrued 57,488 USD ($78,726 CAD) in compensation for Lorenzo Rossi during the year ended December 31, 2024 that was later paid to him in 2025. The deferred compensation was tracked in CAD, which was converted to USD using the 2024 average exchange rate of 0.730228.

(11) Lorenzo Rossi’s gross compensation in 2023 was $270,824 ($365,462 CAD). He additionally received contributions towards health, dental, and vision coverage