Ned L. Siegel - Dec 29, 2021 Form 4 Insider Report for Worksport Ltd (WKSP)

Role: Director
Signature: /s/ Ned L. Siegel
Stock symbol: WKSP
Transactions as of: Dec 29, 2021
Transactions value $: $3
Form type: 4
Date filed: 12/30/2021, 04:13 PM
Previous filing: Nov 2, 2021
Next filing: Oct 26, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	WKSP	Common Stock						15K	Dec 29, 2021	See Footnote	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	WKSP	Non-Qualified Stock Options	Award	$3.00	+30K	+200%	$0.00^*	45K	Dec 29, 2021	Common Stock	30K	$2.51	See Footnote	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Shares to be held by The Siegel Group, Inc., which is controlled by Ned L. Siegel.
F2	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.

Content

Shares to be held by The Siegel Group, Inc., which is controlled by Ned L. Siegel.

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.