Company: WKSP
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001641172-25-000850
Chunk: 195

Company: Worksport Ltd
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1
Chunk 195
---
     
    Number
    of shares or units of stock that have not vested (#)
     
    Market
    value of shares of units of stock that have not vested ($)

    Steven
    Rossi, CEO & Pres. (PEO)

    0 

    82,500(1)(2)(3)(4)

    282,500(2)(3)(4)

    7.042

    (1)(2)(3)(4)

       -

       -

    (1)
    On August 6, 2021, we granted
    Steven Rossi an incentive stock option to purchase 10,000 shares of common stock for $55.00 per share under the Worksport Ltd. 2021
    Equity Incentive Plan. The option vests 100% on the grant date. The expiration date of the option is August 6, 2026. During the year
    ended December 31, 2024, this stock option’s strike price was updated to $7.042.

    (2)
    On May 1, 2023, we granted Steven Rossi a non-qualified stock option to
purchase 200,000 shares of common stock for $17.40 per share. Vesting is based upon the achievement of either the Company’s Market
Capitalization or the Company’s Share Price. The grant vests in ten tranches. The first tranche vests once the Company either maintains
a volume weighted average price of $20.00 or more for 10 consecutive trading days or reaches a market capitalization of $38,000,000, and
an additional tranche representing 10% of the option grant vests for each dollar by which the volume weighted average price increases
or for each additional $17,000,000 in which the Company’s market capitalization increases. 20% of the stock option has vested. The
expiration date of the option is May 1, 2033. During the year ended December 31, 2024, this stock option’s strike price was updated
to $7.042.

    (3)
    On July 21, 2023, we granted Steven Rossi a non-qualified stock option
to purchase 5,000 shares of common stock for $36.10 per share under the Worksport Ltd. 2022 Equity Incentive Plan. The option vests 50%
on the first annual anniversary of the grant date, and the other