Worksport Ltd Annual Meeting: Directors Elected; Board Authorized Stock Splits

What Happened
Worksport Ltd (WKSP) announced results of its 2026 Annual Meeting of Shareholders held September 3, 2026. As of the July 7, 2026 record date the company had 15,282,595 common shares outstanding; holders of common stock had one vote per share, while the Series A Preferred (100 shares) carries 51% of total voting power and is wholly owned by CEO Steven Rossi. A total of 24,005,818 votes were represented (76.94% of voting power), and shareholders elected five directors — Steven Rossi, Lorenzo Rossi, Craig Loverock, William Caragol and Ned L. Siegel — to serve through the 2027 annual meeting.

Key Details

• Record date and outstanding shares: 15,282,595 common shares; 100 Series A Preferred; 427,912 Series C Preferred (Series C has no voting rights).
• Votes represented: 24,005,818 votes (76.94% of total voting power).
• Director election (example): Steven Rossi — 18,233,473 for, 260,864 withheld, 5,511,481 broker non-votes. All five nominees were elected.
• Auditor ratified: Lumsden & McCormick, LLP approved as independent registered public accounting firm (23,569,620 for; 363,560 against; 72,638 abstentions).
• Advisory special dividend proposal passed (non-binding): 18,109,611 for; 325,848 against; 58,878 abstain; 5,511,481 broker non-votes.
• Stock-split authorization approved: Board authorized one or more reverse splits (between 1-for-2 and 1-for-250) or forward splits, to be decided by the Board within two years (21,904,023 for; 2,031,649 against; 70,146 abstentions).

Why It Matters
The meeting preserves board continuity with incumbent directors re-elected and confirms the auditor, which maintains operational and reporting stability. The Board’s new authority to implement reverse or forward stock splits gives management flexibility to change the company’s share count and per-share market metrics — an action that can affect liquidity, listing eligibility and investor perception. The advisory vote in favor of considering special dividends signals shareholder interest but is non-binding; any dividend decisions remain subject to law and the Board’s fiduciary duties. Note that the Series A Preferred’s 51% voting power, held entirely by CEO Steven Rossi, concentrates control and likely influences corporate decisions.