0001493152-23-015345.txt : 20230503
0001493152-23-015345.hdr.sgml : 20230503
20230503212346
ACCESSION NUMBER: 0001493152-23-015345
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20230501
FILED AS OF DATE: 20230503
DATE AS OF CHANGE: 20230503
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Rossi Steven F.
CENTRAL INDEX KEY: 0001626032
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-40681
FILM NUMBER: 23886100
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]
IRS NUMBER: 650782227
STATE OF INCORPORATION: NV
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 7299 E. DANBRO CRES
CITY: MISSISSAUGA
STATE: A6
ZIP: L5N 6P8
BUSINESS PHONE: 1-888-554-8789
MAIL ADDRESS:
STREET 1: 7299 E. DANBRO CRES
CITY: MISSISSAUGA
STATE: A6
ZIP: L5N 6P8
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
X0407
4
2023-05-01
0
0001096275
Worksport Ltd
WKSP
0001626032
Rossi Steven F.
7299 E DANBRO CRESCENT
MISSISSAUGA
A6
L5N 6P8
ONTARIO, CANADA
1
1
1
0
CEO, President and Secretary
0
Performance Stock Unit ("PSU")
2023-05-01
4
J
0
400000
0
D
Common Stock
400000
0
D
Restricted Stock Unit ("RSU")
2023-05-01
4
J
0
1600000
0
D
Common Stock
1600000
0
D
Non-Qualified Stock Option (Right to Buy) ("'NSO")
1.74
2023-05-01
4
A
0
2000000
0
A
2033-05-01
Common Stock
2000000
2000000
D
Each PSU represented the right to receive, upon vesting, one share of common stock of WKSP. On November 11, 2022, 400,000 PSUs granted to Steven Rossi on December 29, 2021 were modified. The PSUs were to vest in 5% increments according to a schedule that correlates with the stock price of WKSP. The first 5% of the PSUs were to vest upon the stock price of WKSP closing at $2.25. 50% were to have vested at a closing price of $5.31 and 100% were to have vested at a closing price of $13.76. The PSUs were cancelled on May 1, 2023. As of the date of cancellation of the PSUs, none of the PSUs had vested.
Each RSU represented the right to receive, upon vesting, one share of common stock of WKSP. On November 11, 2022, WKSP granted Steven Rossi 1,600,000 RSUs that were to vest in equal installments of 200,000 pursuant to the completion of eight milestones. The RSUs were cancelled on May 1, 2023. As of the date of cancellation of the RSUs, none of the RSUs had vested.
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.
/s/ Steven Rossi
2023-05-03