Worksport Ltd — Director's Dealing 2024

Jul 25, 2024

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Worksport Ltd (WKSP)
CIK: 0001096275
Period of Report: 2024-07-23

Reporting Person: Caragol William J (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2024-07-23	Non-Qualified Stock Options	$5.5	D	15000	Disposed	2026-08-06	Common Stock (15000)	Direct
2024-07-23	Non-Qualified Stock Options	$0.7042	A	15000	Acquired	2026-08-06	Common Stock (15000)	Direct
2024-07-23	Non-Qualified Stock Options	$2.51	D	30000	Disposed	2026-12-29	Common Stock (30000)	Direct
2024-07-23	Non-Qualified Stock Options	$0.7042	A	30000	Acquired	2026-12-29	Common Stock (30000)	Direct
2024-07-23	Stock Option (right to buy)	$1.66	D	120000	Disposed		Common Stock (120000)	Direct
2024-07-23	Stock Option (right to buy)	$0.7042	A	120000	Acquired		Common Stock (120000)	Direct
2024-07-23	Option (Right to buy)	$3.61	D	7500	Disposed	2028-07-21	Common Stock (7500)	Direct
2024-07-23	Option (Right to buy)	$0.7042	A	7500	Acquired	2028-07-21	Common Stock (7500)	Direct
2024-07-23	Option (Right to buy)	$0.7042	A	25000	Acquired	2034-07-23	Common Stock (25000)	Direct

Footnotes

F1: 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.

F2: 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.

F3: 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.

F4: 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.

F5: Option expires on 01/30/33 subject to the terms of the 2022 Plan.

F6: 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.

F7: 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