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PRER14A
WORKSPORT LTD.
Explanatory
Note: This Revised Preliminary Proxy Statement on Schedule 14A is being filed by the Registrant to include the preliminary form
of proxy card and the Notice of Internet Availability of Proxy Materials, included hereto as Annexes A and B, respectively, which were
inadvertently omitted from the Preliminary Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on July
9, 2026. No other changes have been made to the Preliminary Proxy Statement.
true
<table cellpadding="0" cellspacing="0" id="xdx_888_eecd--PvpTableTextBlock_zY00Uq9E5gKf" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Pay vs Performance Disclosure">
<tr style="vertical-align: bottom">
<td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Year</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td>
<td colspan="2" id="xdx_481_eecd--PeoTotalCompAmt_zJlR4SENrt85" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">Summary</span></p>
<p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">Compensation
Table</span></p>
<p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">Total
for PEO ($)<span id="xdx_F53_z65cMC8J4Q9j">(1)</span></span></p></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td>
<td colspan="2" id="xdx_485_eecd--PeoActuallyPaidCompAmt_ziHlyC2vWfek" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">Compensation</span></p>
<p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">Actually
Paid to</span></p>
<p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">PEO
($)<span id="xdx_F5F_zm4SYbBP3QXf">(1)</span></span></p></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td>
<td colspan="2" id="xdx_482_eecd--TotalShareholderRtnAmt_pp2d_zs9YQ2cKHGC1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">Value
of Initial Fixed</span></p>
<p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">$100
Investment</span></p>
<p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">Based
on Total</span></p>
<p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">Shareholder
Return ($)<span id="xdx_F5C_zpcaYsoNruSi">(2)</span></span></p></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td>
<td colspan="2" id="xdx_482_eus-gaap--NetIncomeLoss_z3evQfPe5b85" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Net
Sales ($)<span id="xdx_F5F_z7W0ZgOcTFEa">(3)</span></span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr>
<tr id="xdx_41A_20250101__20251231_z6623SPXr3a1" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 20%; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2025</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,297,465</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">452,715</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">24.33</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">16,101,738</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr>
<tr id="xdx_41E_20240101__20241231_zDZf3udfgr0i" style="vertical-align: bottom; background-color: White">
<td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">2024</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">508,746</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">348,246</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">60.40</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">8,484,379</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr>
<tr id="xdx_411_20230101__20231231_zfnB2c6VSrDk" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">2023</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">5,531,992</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">374,470</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">149.75</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,529,632</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr>
</table>
1297465
452715
24.33
16101738
508746
348246
60.40
8484379
5531992
374470
149.75
1529632
<p id="xdx_897_eecd--NamedExecutiveOfficersFnTextBlock_dU_zcM9qeLRpHVf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p>
<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_eecd--PeoName_c20250101__20251231__ecd--IndividualAxis__custom--StevenRossiMember_zk4giqbq0ele"><span id="xdx_90D_eecd--PeoName_c20240101__20241231__ecd--IndividualAxis__custom--StevenRossiMember_zcYmQZWE8Nug"><span id="xdx_90B_eecd--PeoName_c20230101__20231231__ecd--IndividualAxis__custom--StevenRossiMember_zsXwRYMs9M8h">Steven
Rossi</span></span></span></span></p>
<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom; background-color: White">
<td style="font-weight: bold; text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025($)</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: center"></td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024($)</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: center"></td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023($)</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: center"></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: justify; width: 43%">Stock Options</td><td style="width: 2%"> </td>
<td style="text-align: left; width: 1%"> </td><td id="xdx_98F_eecd--AdjToCompAmt_c20250101__20251231__ecd--AdjToCompAxis__us-gaap--EmployeeStockOptionMember__ecd--IndividualAxis__custom--StevenRossiMember_fKDEuMSk___ze2HIkoumzUc" style="text-align: right; width: 14%" title="Equity">844,750</td><td style="text-align: left; width: 2%">(1.1)</td><td style="width: 2%"> </td>
<td style="text-align: left; width: 1%"> </td><td id="xdx_982_eecd--AdjToCompAmt_c20240101__20241231__ecd--AdjToCompAxis__us-gaap--EmployeeStockOptionMember__ecd--IndividualAxis__custom--StevenRossiMember_fKDEuMik___z3feKi3cGubc" style="text-align: right; width: 14%" title="Equity">10,500</td><td style="text-align: left; width: 2%">(1.2)</td><td style="width: 2%"> </td>
<td style="text-align: left; width: 1%"> </td><td id="xdx_98F_eecd--AdjToCompAmt_c20230101__20231231__ecd--AdjToCompAxis__us-gaap--EmployeeStockOptionMember__ecd--IndividualAxis__custom--StevenRossiMember_fKDEuMyk___zMPp5Tiw3CEj" style="text-align: right; width: 14%" title="Equity">5,157,522</td><td style="text-align: left; width: 2%">(1.3)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: justify">All Other Compensation</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98D_eecd--AdjToCompAmt_c20250101__20251231__ecd--AdjToCompAxis__custom--AllOtherCompensationMember__ecd--IndividualAxis__custom--StevenRossiMember_fKDEuNCk___zCiDFF5CDoTg" style="text-align: right" title="Equity">150,000</td><td style="text-align: left">(1.4)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98F_eecd--AdjToCompAmt_c20240101__20241231__ecd--AdjToCompAxis__custom--AllOtherCompensationMember__ecd--IndividualAxis__custom--StevenRossiMember_fKDEuNSk___zJlHjfMOMkp9" style="text-align: right" title="Equity">150,000</td><td style="text-align: left">(1.5)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: justify">Salary</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_983_eecd--AdjToCompAmt_c20250101__20251231__ecd--AdjToCompAxis__custom--SalaryMember__ecd--IndividualAxis__custom--StevenRossiMember_fKDEuNik___z3jnTrmrtwc9" style="text-align: right" title="Adjustment to Compensation Amount">302,715</td><td style="text-align: left">(1.6)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_989_eecd--AdjToCompAmt_c20240101__20241231__ecd--AdjToCompAxis__custom--SalaryMember__ecd--IndividualAxis__custom--StevenRossiMember_fKDEuNyk___zbJnloEbGtva" style="text-align: right" title="Adjustment to Compensation Amount">348,246</td><td style="text-align: left">(1.7)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98B_eecd--AdjToCompAmt_c20230101__20231231__ecd--AdjToCompAxis__custom--SalaryMember__ecd--IndividualAxis__custom--StevenRossiMember_fKDEuOCk___zQLT9Wij1NMj" style="text-align: right" title="Adjustment to Compensation Amount">374,470</td><td style="text-align: left">(1.8)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: justify">Total Compensation</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98E_eecd--PeoTotalCompAmt_c20250101__20251231__ecd--IndividualAxis__custom--StevenRossiMember_zxRvYcWFMUv7" style="text-align: right" title="PEO Total Compensation Amount">1,297,465</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_982_eecd--PeoTotalCompAmt_c20240101__20241231__ecd--IndividualAxis__custom--StevenRossiMember_zGGe411aF6j6" style="text-align: right" title="PEO Total Compensation Amount">508,746</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98E_eecd--PeoTotalCompAmt_c20230101__20231231__ecd--IndividualAxis__custom--StevenRossiMember_z9EgDDAyvgn5" style="text-align: right" title="PEO Total Compensation Amount">5,531,992</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: justify">Total Actually Paid</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_983_eecd--PeoActuallyPaidCompAmt_c20250101__20251231__ecd--IndividualAxis__custom--StevenRossiMember_zu5kvn1EHQ2j" style="text-align: right" title="PEO Actually Paid Compensation Amount">452,715</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_984_eecd--PeoActuallyPaidCompAmt_c20240101__20241231__ecd--IndividualAxis__custom--StevenRossiMember_zGRv6jVWVNWe" style="text-align: right" title="PEO Actually Paid Compensation Amount">348,246</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98B_eecd--PeoActuallyPaidCompAmt_c20230101__20231231__ecd--IndividualAxis__custom--StevenRossiMember_zEt93PxvP3si" style="text-align: right" title="PEO Actually Paid Compensation Amount">374,470</td><td style="text-align: left"> </td></tr>
</table>
<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.5in"><span id="xdx_F08_zddxKnQqQet1" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1.1)</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F1B_zuDHiwELUFF8" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
April 4, 2025, we granted Mr. Steven Rossi 30,000 nonqualified stock options with a strike price of $3.09 and a fair value of $2.86
as determined by use of the Black Scholes valuation model. On July 12, 2025, we granted Mr. Steven Rossi 215,000 NQSO stock options
with a strike price of $3.80 and a grant date fair value of $3.53 as determined by use of the Black Scholes valuation model.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F08_zyqnEodT8ENi" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1.2)</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F1C_zZs2XYmCsAVd" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
July 26. 2024, we amended Mr. Steven Rossi’s 2023 5,000 nonqualified stock options with a strike price of $36.10 to a strike
price of $7.04. All other elements of the award were otherwise unchanged. Management determined the incremental fair value of the
modification using Black Scholes.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F0B_zpdq2e85R3N4" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1.3)</span></td>
<td id="xdx_F18_zLPEaJN09Kw" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
May 1, 2023, we granted Mr. Steven Rossi a non-qualified stock option to purchase 200,000 shares of common stock for $17.40 and a
fair value of $14.10 as determined by use of the Black Scholes valuation model. On July 21, 2023, we granted Mr. Steve Rossi 5,000
nonqualified stock options with a stroke price of $36.10 and a fair value of $35.79 as determined by use of the Black Scholes valuation
model. On October 31, 2023, we granted Mr. Steven Rossi an incentive stock option to purchase 150,000 shares of common stock with
a strike price of $14.40 and a fair value of $14.38 as determined by use of the Black Scholes valuation model.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F03_zuAN8yaFuY29" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1.4)</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F1E_zrl6ePuWytE9" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
February 12, 2026, the Board approved the issuance of a $150,000 cash bonus to Mr. Steven Rossi for his exemplary performance in
2025 pursuant to the terms of the Consulting Agreement, dated July 23, 2024.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F08_zVmBCvC6VZv2" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1.5)</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F17_zioKnAPpX032" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
February 14, 2025, the Board approved a bonus of $150,000 payable in cash to Mr. Steven Rossi for his achievements in leading and
delivering outstanding results in 2024, pursuant to the terms of the Consulting Agreement, dated July 23, 2024.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F0C_zKoiahgxqyGi" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1.6)</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F15_zOWqKmzJIfcd" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mr.
Steven Rossi’s gross salary in 2025 was $300,000, which includes only consulting fees. He also received contributions towards
health, dental, and vision coverage equaling $2,715 in the same year.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F0C_zDKieYGHM3bd" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1.7)</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F10_zXbCPzvdTOf6" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mr.
Steven Rossi’s gross salary in 2024 was $187,000, which includes his base compensation plus an 8% vacation payout per paycheck.
He additionally received $159,527 in consulting fees. He also received contributions towards health, dental, and vision coverage
equaling $1,719 in the same year.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F06_zF602oHw1Zdb" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1.8)</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F12_zXHLASGYTNVb" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mr.
Steven Rossi’s gross salary in 2023 was $327,998, which includes his base compensation plus an 8% vacation payout per paycheck.
He additionally received $45,786 in vacation payouts accrued prior to 2023. He also received contributions towards health, dental,
and vision coverage equaling $979 in the same year.</span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table border="0" cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
<tr style="vertical-align: top">
<td style="text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</span></td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Value of Initial Fixed $100
Investment Based on Total Shareholder Return</span></td></tr>
</table>
<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
TSR for 2025 equals Closing Price of WKSP on the last trading day of 2025 minus Closing Price of WKSP on last trading day of 2024
divided by Closing Price of WKSP on last trading day of 2024.</span></td></tr>
</table>
<p style="margin: 0"><span style="font-family: Times New Roman, Times, Serif"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif"> </span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">○</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">$2.19
(12/31/2024) - $9.00 (12/31/2024) / $9.00 = -0.756667</span></td></tr>
</table>
<p style="margin: 0"><span style="font-family: Times New Roman, Times, Serif"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
Value of $100 = 100 (1 + -0.756667) = $24.33</span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table border="0" cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(3)</b></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
the fiscal year ended December 31, 2024, revenue from our entire line of products was $16,101,738, as compared to $8,484,379 for
the fiscal year ended December 31, 2024. The year-over-year sales increased by approximately 90%. Revenue increased for the fiscal
year ended December 31, 2025, compared to the prior year due to additional product offerings and our increased production efforts
to support the expansion of premier tonneau cover sales in both direct to consumer and business to business sales channels.</span></td></tr>
</table>
Steven Rossi
Steven Rossi
Steven Rossi
844750
10500
5157522
150000
150000
302715
348246
374470
1297465
508746
5531992
452715
348246
374470
<p id="xdx_89C_eecd--CompActuallyPaidVsCoSelectedMeasureTextBlock_dU_zKxY38A8Rb91" style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p>
<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Disclosure
of Relationship Between Performance Measures and Executive Compensation</span></p>
<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
PEO’s salary between 2024 and 2025 decreased by 13.0%, which largely reflects the modification of the employment arrangement. During
the same period, the stock price of the Company decreased 75.7%, and the Company stock was subject to high volatility, going from $9.00
at the beginning of 2025 to $2.19 by December 31, 2025.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company’s net sales increased 90% in Fiscal Year 2025 and increased 4,547% in Fiscal Year 2024. The Company believes that the compensation
paid to its PEO in Fiscal Year 2024 and 2025 was below the current industry standard.</span></p>
On
<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY292ZXJ5IG9mIEVycm9uZW91c2x5IEF3YXJkZWQgQ29tcGVuc2F0aW9uAA__" id="xdx_907_eecd--RestatementDeterminationDate_c20250101__20251231__ecd--RestatementDateAxis__2023-10-02_zkFfNpYOCOSg">October 2, 2023</span>, our Board adopted an executive compensation recoupment policy consistent with the requirements of the Exchange Act Rule
10D-1 and the Nasdaq listing standards thereunder, to help ensure that incentive compensation is paid based on accurate financial and
operating data, and the correct calculation of performance against incentive targets. Our policy addresses recoupment of amounts from
performance-based awards paid to all corporate officers, including awards under our equity incentive plans, in the event of a financial
restatement to the extent that the payout for such awards would have been less, or in the event of fraud, or intentional, willful or
gross misconduct that contributed to the need for a financial restatement.
2023-10-02
Our
policies and practices regarding the granting of equity awards are carefully designed to ensure compliance with applicable securities
laws and to maintain the integrity of our executive compensation program. The Compensation Committee is responsible for the timing and
terms of equity awards to executives and other eligible employees.<span class="xdx_phnt_RGlzY2xvc3VyZSAtIEF3YXJkIFRpbWluZyBEaXNjbG9zdXJlAA__" id="xdx_90C_eecd--AwardTmgHowMnpiCnsdrdTextBlock_c20250101__20251231_zTOaLHeGEMK3">The
timing of equity award grants is determined with consideration to a variety of factors, including but not limited to, the achievement
of pre-established performance targets, market conditions and internal milestones. The Company does <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEF3YXJkIFRpbWluZyBEaXNjbG9zdXJlAA__" id="xdx_90A_eecd--AwardTmgPredtrmndFlag_dbF_c20250101__20251231_z1Tw0AvGot46">not</span> follow a predetermined schedule
for the granting of equity awards; instead, each grant is considered on a case-by-case basis to align with the Company’s strategic
objectives and to ensure the competitiveness of our compensation packages.</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIEF3YXJkIFRpbWluZyBEaXNjbG9zdXJlAA__" id="xdx_903_eecd--AwardTmgMnpiCnsdrdFlag_dbT_c20250101__20251231_zyyTo4UQmpC6">In
determining the timing and terms of an equity award, the Board or the Compensation Committee may consider material nonpublic information
to ensure that such grants are made in compliance with applicable laws and regulations.</span> <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEF3YXJkIFRpbWluZyBEaXNjbG9zdXJlAA__" id="xdx_90A_eecd--AwardTmgMethodTextBlock_c20250101__20251231_zOYknq1UnYrj">The Board’s or the Compensation Committee’s
procedures to prevent the improper use of material nonpublic information in connection with the granting of equity awards include oversight
by legal counsel and, where appropriate, delaying the grant of equity awards until the public disclosure of such material nonpublic information.</span></span>The
Company is committed to maintaining transparency in its executive compensation practices and to making equity awards in a manner that
is <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEF3YXJkIFRpbWluZyBEaXNjbG9zdXJlAA__" id="xdx_908_eecd--MnpiDiscTimedForCompValFlag_dbF_c20250101__20251231_zR8OOFeKAmkd">not</span> influenced by the timing of the disclosure of material nonpublic information for the purpose of affecting the value of executive
compensation. The Company regularly reviews its policies and practices related to equity awards to ensure they meet the evolving standards
of corporate governance and continue to serve the best interests of the Company and its shareholders.
The
timing of equity award grants is determined with consideration to a variety of factors, including but not limited to, the achievement
of pre-established performance targets, market conditions and internal milestones. The Company does <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEF3YXJkIFRpbWluZyBEaXNjbG9zdXJlAA__" id="xdx_90A_eecd--AwardTmgPredtrmndFlag_dbF_c20250101__20251231_z1Tw0AvGot46">not</span> follow a predetermined schedule
for the granting of equity awards; instead, each grant is considered on a case-by-case basis to align with the Company’s strategic
objectives and to ensure the competitiveness of our compensation packages.
false
true
The Board’s or the Compensation Committee’s
procedures to prevent the improper use of material nonpublic information in connection with the granting of equity awards include oversight
by legal counsel and, where appropriate, delaying the grant of equity awards until the public disclosure of such material nonpublic information.
false