What changed in this filing

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Item 5. Market for Registrant’s Common Equity

2023-03-31 compared with 2022-03-31 · 70 added, 39 removed, 20 unchanged (84% of the section changed)

MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

common stock and Public Warrants commenced trading on the Nasdaq Capital Markets under the symbols “WKSP” and “WKSPW,”

common stock and Public Warrant commenced trading on The Nasdaq Capital Market 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.”

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

December 31, 2021

December 31, 2020

First Quarter

Second Quarter

Third Quarter

Fourth Quarter

of Common Stock

December 31, 2021, there were 189 holders of record of our common stock.

March 31, 2023, there were 176 holders of record of our common stock.

Transfer Agent

transfer agent is Vstock Transfer, LLC, 18 Lafayette Place, Woodmere, NY 11598.

transfer agent is Vstock Transfer, LLC., located at 18 Lafayette Place, Woodmere, NY 11598.

Their telephone number is (212) 828-8436.

8 unchanged sentences

Incentive Plans

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.

March 31, 2021, the Board of Directors and majority stockholder adopted the Company’s 2021 Equity Incentive Plan (the “2021

July 2015, our Board and shareholders adopted the Worksport Ltd.

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:

1 unchanged sentence

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 2015 Plan is intended to help us secure and retain the services of eligible award recipients, provide incentives for such persons

to exert maximum efforts for our success and that of any affiliate and provide a means by which the eligible recipients may benefit from

increases in value of our common stock.

The Board reserved 500,000 shares of common stock issuable upon the grant of awards under the

As of December 31, 2022, zero shares of common stock were available under the 2015 Plan.

March 31, 2021, our Board and shareholders adopted the Worksport Ltd.

2021 Equity Incentive Plan (the “2021 Plan”).

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 us secure and retain the services of eligible award recipients, provide incentives for such persons to exert maximum

efforts for our success and that of any affiliate and provide a means by which the eligible recipients may benefit from increases in

value of our common stock.

The Board reserved 1,250,000 shares of common stock issuable upon the grant of awards under the 2021 Plan.

As of December 31, 2022, 60,000 shares of common stock were available under the 2021 Plan.

September 2022 and November 2022, our Board and shareholders, respectively, approved and adopted the Worksport Ltd.

2022 Equity Incentive

The 2022 Plan authorizes 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 units, (vi) performance units, (vii) performance

shares and (viii) other awards as the administrator may determine.

The 2022 Plan is to be administered by the Board, the Compensation

Committee or any other committee appointed by the Board.

The 2022 Plan is intended to (i) attract and retain the best available personnel

for positions of substantial responsibility, (ii) provide incentives to individuals who perform services for us and (iii) promote the

success of the business.

A total of 750,000 shares of common stock have been reserved for the issuance of awards under the 2022 Plan.

The 2022 Plan also contains an “evergreen formula” pursuant to which the number of shares of common stock available for issuance

under the 2022 Plan will automatically increase on January 1 of each calendar year during the term of the 2022 Plan, beginning with the

calendar year 2023, by an amount of shares of common stock so that the total amount of common stock available under the 2022 Plan is

equal to 15% of the total number of shares of common stock outstanding on December 31 st of the prior calendar year minus the

total number of shares reserved and available for issuance under the 2015 Plan and 2021 Plan.

As of December 31, 2022, 737,500 shares

of common stock were available under the 2022 Plan.

Sales of Equity Securities

Common Shares issued to TraDigital Marketing Group, LLC on September 27, 2021 for stock marketing services rendered per agreement

signed on March 12, 2021

Common Shares issued to Frank Bernaudo on September 29, 2021 for capital market consulting services rendered per agreement signed

on January 15, 2021

Common Shares issued to Steelbase Ltd on September 29, 2021 for broad consulting services rendered per agreement signed on August

Common Shares issued to Wesley van de Wiel on September 29, 2021 for CRM consulting services rendered per agreement signed on February

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

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

Common Shares issued to Danbro Tool & Die Inc.

and on April 14, 2021.

shares of common stock issued to Exchange Listing LLC on March 17, 2022 for consulting services

rendered per agreement signed on January 26, 2022.

shares of common stock issued to Zenfar Investments on January 13, 2022 for consulting services

rendered per agreement signed on March 3, 2021.

common shares issued to Rafael Oliveira on April 23, 2022 for employment services rendered

per agreement signed on March 7, 2022.

common shares issued to Steven Obadiah on April 23, 2022 for consulting services rendered per agreement signed on February 23, 2022.

foregoing securities were issued in reliance on the exclusion from registration provided by Section 4(a)(2) of the Securities Act due

to the fact the issuance did not involve a public offering of securities.

PLAN INFORMATION

Equity Incentive Plan:

Equity compensation

plans approved by security holders

compensation plans not approved by security holders

Equity Incentive Plan:

Equity compensation plans

approved by security holders

compensation plans not approved by security holders

Equity Incentive Plan:

Equity compensation plans

approved by security holders

Equity compensation plans

not approved by security holders

2022 Plan also contains an “evergreen formula” pursuant to which the number of

shares of common stock available for issuance under the 2022 Plan will automatically increase

on January 1 of each calendar year during the term of the 2022 Plan, beginning with the calendar

year 2023, by an amount of shares of common stock so that the total amount of common stock

available under the 2022 Plan is equal to 15% of the total number of shares of common stock

outstanding on December 31 st of the prior calendar year minus the total number

of shares reserved and available for issuance under the 2015 Plan and 2021 Plan.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 5. Market for Registrant’s Common Equity