0001493152-24-029134.txt : 20240725 0001493152-24-029134.hdr.sgml : 20240725 20240725201509 ACCESSION NUMBER: 0001493152-24-029134 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: SIEGEL NED L CENTRAL INDEX KEY: 0001288179 ORGANIZATION NAME: FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-40681 FILM NUMBER: 241143334 MAIL ADDRESS: STREET 1: 600 WILSHIRE BOULEVARD CITY: LOS ANGELES STATE: CA ZIP: 90017 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 0001288179 SIEGEL NED L 2500 N AMERICA DR. WEST SENECA NY 14224 1 0 0 0 0 Non-Qualified Stock Options 5.5 2024-07-23 4 D 0 15000 0.0001 D 2022-01-01 2026-08-06 Common Stock 15000 0 D Non-Qualified Stock Options 0.7042 2024-07-23 4 A 0 15000 0.0001 A 2022-01-01 2026-08-06 Common Stock 15000 15000 D Non-Qualified Stock Options 2.51 2024-07-23 4 D 0 30000 0.0001 D 2022-12-29 2026-12-29 Common Stock 30000 0 D Non-Qualified Stock Options 0.7042 2024-07-23 4 A 0 30000 0.0001 A 2022-12-29 2026-12-29 Common Stock 30000 30000 D Stock Option (right to buy) 1.66 2024-07-23 4 D 0 120000 0 D Common Stock 120000 0 D Stock Option (right to buy) 0.7042 2024-07-23 4 A 0 120000 0 A Common Stock 120000 120000 D Option (Right to buy) 3.61 2024-07-23 4 D 0 7500 0 D 2028-07-21 Common Stock 7500 0 D Option (Right to buy) 0.7042 2024-07-23 4 A 0 7500 0 A 2028-07-21 Common Stock 7500 7500 D Option (Right to buy) 0.7042 2024-07-23 4 A 0 25000 0 A 2034-07-23 Common Stock 25000 25000 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. 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 $2.51. The NQSOs vest 1/3 on December 29, 2022, 1/3 December 29, 2023 and 1/3 December 29, 2024. These NQSOs expire on December 29, 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. Non-qualified stock option granted under the Worksport Ltd 2022 Equity Incentive Plan (the "2022 Plan"). Option vests in six equal installments, commencing on the date of grant and each anniversary of the date of grant. Option expires on 01/30/33 subject to the terms of the 2022 Plan. 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. Non-qualified stock option granted under the Worksport Ltd 2022 Equity Incentive Plan (the "2022 Plan"). Option vests in eight quarterly installments, commencing on the date of grant /s/ Ned L. Siegel 2024-07-25