Worksport Ltd 8-K

What Happened
Worksport Ltd (WKSP) filed an 8-K (Item 5.02) announcing that CFO Michael Johnston resigned effective April 30, 2026 (5:00 p.m. ET). The Board appointed Jennifer Kartychak as Chief Financial Officer, Principal Financial Officer and Principal Accounting Officer, effective May 1, 2026. The company says Johnston’s resignation was not due to any disagreement about the company’s operations or financial reporting, and it expects to complete a transition to an in‑house finance function tied to Ms. Kartychak’s appointment. Ms. Kartychak previously served as Worksport’s Vice President of Finance (since Jan 1, 2026) and had provided consulting services through Arend Advisory Group LLC beginning August 2023.

Key Details

• Resignation: Michael Johnston effective April 30, 2026 at 5:00 p.m. ET; not due to disagreement with company on operations or accounting.
• Appointment: Jennifer Kartychak appointed CFO effective May 1, 2026; age 44; CPA (New York); over 10 years in public accounting (including ~5 years at EY) and prior corporate accounting leadership at Moog Inc.
• Compensation (per Employment Agreement): $220,000 annual base salary; target annual cash bonus of $75,000 (payable upon achievement of milestones/KPIs); non‑qualified stock option for up to 100,000 shares under the 2022 Equity Incentive Plan (exercise price = fair market value at grant; time- and performance-based vesting).
• Other disclosures: Board approved issuance of 13,000 common shares to Arend Advisory Group LLC (entity wholly owned by Ms. Kartychak) related to the CFO transition. Prior payments to Arend Advisory Group LLC were approximately $8,000 (2023), $134,000 (2024), $158,000 (2025), and $17,000 in 2026 YTD; the company issued 19,768 shares to Arend Advisory Group LLC for services rendered between August 2003 and December 2025 as disclosed.

Why It Matters
A CFO change is material because the CFO leads financial reporting, controls and SEC filings. Investors should note Worksport appointed an experienced CPA with public-company reporting background and granted compensation that includes salary, bonus incentives and equity—aligning pay with performance and retention. The filing also discloses prior consulting payments and equity issued to Ms. Kartychak’s consulting entity, which are important for transparency about related‑party relationships. Finally, the company’s statement that the resignation was not due to disagreements reduces one common governance concern, while the planned transition to an in‑house finance function may affect how finance and reporting are managed going forward.