0001493152-24-029133.txt : 20240725 0001493152-24-029133.hdr.sgml : 20240725 20240725201511 ACCESSION NUMBER: 0001493152-24-029133 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20240723 FILED AS OF DATE: 20240725 DATE AS OF CHANGE: 20240725 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Rossi Steven F. CENTRAL INDEX KEY: 0001626032 ORGANIZATION NAME: FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-40681 FILM NUMBER: 241143335 MAIL ADDRESS: STREET 1: 1895 CLEMENTS ROAD CITY: PICKERING STATE: A6 ZIP: M1P 4Y9 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: Worksport Ltd CENTRAL INDEX KEY: 0001096275 STANDARD INDUSTRIAL CLASSIFICATION: MOTOR VEHICLE PARTS & ACCESSORIES [3714] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 650782227 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 2500 N AMERICA DR. CITY: WEST SENECA STATE: NY ZIP: 14224 BUSINESS PHONE: 1-888-554-8789 MAIL ADDRESS: STREET 1: 2500 N AMERICA DR. CITY: WEST SENECA STATE: NY ZIP: 14224 FORMER COMPANY: FORMER CONFORMED NAME: Worksport, Ltd DATE OF NAME CHANGE: 20200702 FORMER COMPANY: FORMER CONFORMED NAME: Franchise Holdings International, Inc. DATE OF NAME CHANGE: 20090512 FORMER COMPANY: FORMER CONFORMED NAME: TMANGLOBAL COM INC DATE OF NAME CHANGE: 19991005 4 1 ownership.xml X0508 4 2024-07-23 0 0001096275 Worksport Ltd WKSP 0001626032 Rossi Steven F. 2500 N AMERICA DR. WEST SENECA NY 14224 1 1 1 0 Chief Executive Officer 0 Non-Qualified Stock Options 5.5 2024-07-23 4 D 0 100000 0.0001 D 2022-01-01 2026-08-06 Common Stock 100000 0 D Non-Qualified Stock Options 0.7042 2024-07-23 4 A 0 100000 0.0001 A 2022-01-01 2026-08-06 Common Stock 100000 100000 D Non-Qualified Stock Option (Right to Buy) ("'NSO") 1.74 2024-07-23 4 D 0 2000000 0 D 2033-05-01 Common Stock 2000000 0 D Non-Qualified Stock Option (Right to Buy) ("'NSO") 0.7042 2024-07-23 4 A 0 2000000 0 A 2033-05-01 Common Stock 2000000 2000000 D Option (Right to buy) 3.61 2024-07-23 4 D 0 50000 0 D 2028-07-21 Common Stock 50000 0 D Option (Right to buy) 0.7042 2024-07-23 4 A 0 50000 0 A 2028-07-21 Common Stock 50000 50000 D Option (Right to buy) 1.44 2023-10-31 4 A 0 1500000 0 A Common Stock 1500000 1500000 D Option (Right to buy) 1.44 2024-07-23 4 D 0 1500000 0 D Common Stock 1500000 0 D Option (Right to buy) 0.7042 2024-07-23 4 A 0 1500000 0 A Common Stock 1500000 1500000 D Non-Qualified Stock Option (Right to Buy) ("'NSO") 0.7042 2024-07-23 4 A 0 3500000 0.0001 A 2024-07-23 2034-07-23 Common Stock 3500000 3500000 D The Reporting Person was granted Non-Qualified Stock Options ("NQSOs") which represent a contingent right to receive one share of Common Stock for each NQSO at a price of $5.50. The NQSOs vest entirely on January 1st of 2022. These NQSOs expire on August 6th, 2026. The right of exercise shall be cumulative so that to the extent this Option is not exercised in any period to the maximum extent permissible it shall continue to be exercisable, in whole or in part, with respect to all Shares Subject to Option for which it is vested until the earlier of the date on which this Option is fully exercised and the Expiration Date. On July 23, 2024, the Issuer's Board of Directors approved an option repricing (the "Repricing") whereby the Reporting Person's options were repriced to an exercise price of $0.7042 per share. All of the other terms of the options remain unchanged. Such transactions were exempt pursuant to Rule 16b-6(d) and Rule 16b-3 of the Exchange Act, as applicable. On May 1, 2023, WKSP granted Steven Rossi 2,000,000 NSOs. The NSOs vest in 10% (200,000 shares) increments upon the achievement of milestones. Vesting is based upon the achievement of certain values regarding either WKSP's market capitalization or the share price of WKSP using the volume weighted average price of the common stock of WKSP for ten (10) consecutive trading days. 50% of option vests on the first anniversary of the date of grant and 50% of option vests on the second anniversary of the date of grant. On October 31, 2023, the Compensation Committee of the Company and the Board approved the grant of incentive stock options ("CEO Award") to Mr. Rossi. The Option will become exercisable ("vest") per the Company's achievement of specified revenue metrics. Granted pursuant to the consulting agreement dated July 23, 2024 entered into between the Company, the Reporting Person, and 2230164 Ontario Inc., an Ontario corporation owned by the Reporting Person. The option shall vest in equal quarterly installments over a period of five (5) years. /s/ Steven F. Rossi 2024-07-25