Worksport Ltd 10-K

ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES Market Information Our common stock and Public Warrants commenced trading on the Nasdaq Capital Markets under the symbols “WKSP” and “WKSPW,” respectively, on August 4, 2021. Prior to trading on Nasdaq, our common stock was quoted on the OTCQB Market under the symbol “WKSP.” The table below sets forth the high and low closing prices of the Company’s Common Stock during the years indicated. The quotations reflect inter-dealer prices without retail mark-up, markdown or commission and may not reflect actual transactions. Fiscal Year Ended Fiscal Year Ended December 31, 2021 December 31, 2020 High Low High Low First Quarter $ 12.190 $ 2.560 $ 8.550 $ 0.540 Second Quarter $ 13.130 $ 4.520 $ 2.490 $ 1.398 Third Quarter $ 10.894 $ 4.320 $ 8.100 $ 1.370 Fourth Quarter $ 5.960 $ 2.420 $ 4.385 $ 2.434 Holders of Common Stock On December 31, 2021, there were 189 holders of record of our common stock. Stock Transfer Agent Our transfer agent is Vstock Transfer, LLC, 18 Lafayette Place, Woodmere, NY 11598. Their telephone number is (212) 828-8436. Dividend Policy We have never paid any cash dividends on our common stock. We anticipate that we will retain funds and future earnings to support operations and to finance the growth and development of our business. Therefore, we do not expect to pay cash dividends in the foreseeable future. Any future determination to pay dividends will be at the discretion of our Board and will depend on our financial condition, results of operations, capital requirements, and other factors that our Board deems relevant. In addition, the terms of any future debt or credit financings may preclude us from paying dividends. Equity Incentive Plans In July 2015, the Board of Directors and stockholders adopted the Company’s 2015 Equity Incentive Plan (the “2015 Plan”), effective as of July 5, 2015. The 2015 Plan provides for the grant of the following types of stock awards: (i) incentive stock options, (ii) nonstatutory stock options, (iii) stock appreciation rights, (iv) restricted stock awards, (v) restricted stock unit awards and (vi) other stock awards. The 2015 Plan is intended to help the Company secure and retain the services of eligible award recipients, provide incentives for such persons to exert maximum efforts for the success of the Company and any affiliate and provide a means by which the eligible recipients may benefit from increases in value of the Common Stock. On March 31, 2021, the Board of Directors and majority stockholder adopted the Company’s 2021 Equity Incentive Plan (the “2021 Plan”). The 2021 Plan provides for the grant of the following types of stock awards: (i) incentive stock options, (ii) nonstatutory stock options, (iii) stock appreciation rights, (iv) restricted stock awards, (v) restricted stock unit awards and (vi) other stock awards. The 2021 Plan is intended to help the Company secure and retain the services of eligible award recipients, provide incentives for such persons to exert maximum efforts for the success of the Company and any affiliate and provide a means by which the eligible recipients may benefit from increases in value of the Common Stock. The Board reserved 1,250,000 shares of Common Stock issuable upon the grant of awards under the 2021 Plan. 12 Unregistered Sales of Equity Securities ● 20,000 Common Shares issued to TraDigital Marketing Group, LLC on September 27, 2021 for stock marketing services rendered per agreement signed on March 12, 2021 ● 100,000 Common Shares issued to Frank Bernaudo on September 29, 2021 for capital market consulting services rendered per agreement signed on January 15, 2021 ● 50,000 Common Shares issued to Steelbase Ltd on September 29, 2021 for broad consulting services rendered per agreement signed on August 30, 2021 ● 250,000 Common Shares issued to Wesley van de Wiel on September 29, 2021 for CRM consulting services rendered per agreement signed on February 15, 2021 ● 700,000 Common Shares issued to AI Media Data LLC on September 29, 2021 for digital marketing and investor relations services rendered per agreement signed on September 1, 2021 ● 400,000 Common Shares subject to Stock Option issued to AI Media Data LLC on September 1, 2021 and vesting 25% every six months from effective date with expiration set at September 1, 2026 for digital marketing services rendered per agreement signed on September 1, 2021 ● 75,000 Common Shares issued to Danbro Tool & Die Inc. and on April 14, 2021. ITEM 6. [RESERVED].