Loverock Craig William 4

Accession 0001493152-24-029132

CIK 0001096275other

View on SEC.gov Company Profile

Filed

Jul 24, 8:00 PM ET

Accepted

Jul 25, 8:15 PM ET

Size

25.5 KB

Accession

0001493152-24-029132

Insider Transaction Report

Form 4

Period: 2024-07-23

Worksport LtdWKSP

Loverock Craig William

Director

Transactions

Award
Non-Qualified Stock Options
2024-07-23$0.00/sh+30,000$3→ 30,000 total
Exercise: $0.70From: 2022-12-29Exp: 2026-12-29→ Common Stock (30,000 underlying)
Disposition to Issuer
Option (Right to buy)
2024-07-23−7,500→ 0 total
Exercise: $3.61Exp: 2028-07-21→ Common Stock (7,500 underlying)
Award
Non-Qualified Stock Options
2024-07-23$0.00/sh+15,000$2→ 15,000 total
Exercise: $0.70From: 2022-01-01Exp: 2026-08-06→ Common Stock (15,000 underlying)
Disposition to Issuer
Stock Option (right to buy)
2024-07-23−120,000→ 0 total
Exercise: $1.66→ Common Stock (120,000 underlying)
Award
Stock Option (right to buy)
2024-07-23+120,000→ 120,000 total
Exercise: $0.70→ Common Stock (120,000 underlying)
Disposition to Issuer
Non-Qualified Stock Options
2024-07-23$0.00/sh−15,000$2→ 0 total
Exercise: $5.50From: 2022-01-01Exp: 2026-08-06→ Common Stock (15,000 underlying)
Award
Option (Right to buy)
2024-07-23+25,000→ 25,000 total
Exercise: $0.70Exp: 2034-07-23→ Common Stock (25,000 underlying)
Award
Option (Right to buy)
2024-07-23+7,500→ 7,500 total
Exercise: $0.70Exp: 2028-07-21→ Common Stock (7,500 underlying)
Disposition to Issuer
Non-Qualified Stock Options
2024-07-23$0.00/sh−30,000$3→ 0 total
Exercise: $2.51From: 2022-12-29Exp: 2026-12-29→ Common Stock (30,000 underlying)

Footnotes (7)

[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

Documents

1 file

4
ownership.xmlPrimary

Issuer

Worksport Ltd

CIK 0001096275

→

Entity typeother

Related Parties

filerCIK 0001864633

Filing Metadata

Form type: 4
Filed: Jul 24, 8:00 PM ET
Accepted: Jul 25, 8:15 PM ET
Size: 25.5 KB

View on SEC.gov