Worksport Ltd. filed SEC Form 8-K: Submission of Matters to a Vote of Security Holders
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Item 5.07 Submission of Matters to a Vote of Security Holders.
On December 11, 2025, Worksport Ltd., a Nevada corporation (the “Company”), held its 2025 Annual Meeting of Shareholders (the “Annual Meeting”).
As of the close of business on October 16, 2025, the record date for the determination of shareholders entitled to vote at the Annual Meeting, there were 16,787,559 shares of the Company’s common stock and 100 shares of Series A Preferred Stock issued and outstanding. Holders of common stock are entitled to one vote per share. The Series A Preferred Stock is entitled to 51% of the total voting power of the Company regardless of the number of shares outstanding. Steven Rossi, the Company’s Chief Executive Officer, President and Chairman of the Board of Directors (the “Board”), beneficially owns 100% of the outstanding Series A Preferred Stock.
At the Annual Meeting, a total of 12,369,649 shares of common stock were represented in person or by proxy, constituting 73.68% of the total outstanding shares and a quorum under Nevada law and the Company’s bylaws.
The final voting results for each proposal submitted to a vote of shareholders are set forth below.
| 1. | Election of the five nominees to the Board: |
| Name | Votes For | Withheld | Broker Non-Votes | |||
| Steven Rossi | 9,675,695 | 55,322 | 2,638,632 | |||
| Lorenzo Rossi | 9,665,757 | 65,260 | 2,638,632 | |||
| Craig Loverock | 9,646,154 | 84,863 | 2,638,632 | |||
| William Caragol | 9,647,425 | 83,592 | 2,638,632 | |||
| Ned L. Siegel | 9,642,395 | 88,622 | 2,638,632 |
Shareholders elected each of the following five nominees to serve as directors until the Company’s 2026 annual meeting of shareholders or until their successors are duly elected and qualified.
| 2. | Ratification of the selection of Lumsden & McCormick, LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2025: |
| Votes For | Votes Against | Abstentions | ||
| 12,278,132 | 70,426 | 21,091 |
Shareholders approved the ratification of Lumsden & McCormick, LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2025.
| 3. | Approval and ratification of certain non-plan stock option grants previously approved by the Board pursuant to Nasdaq Listing Rule 5635(c): |
| Votes For | Votes Against | Withheld | Broker Non-Votes | |||
| 9,430,486 | 268,847 | 31,684 | 2,638,632 |
Shareholders approved and ratified certain non-plan stock option grants previously approved by the Board pursuant to Nasdaq Listing Rule 5635(c).
| 4. | Approval of amendments to the Worksport Ltd. 2022 Equity Incentive Plan to change the evergreen formula from an annual increase to a quarterly increase and increase the evergreen percentage from 15% to 18%: |
| Votes For | Votes Against | Withheld | Broker Non-Votes | |||
| 9,158,974 | 525,156 | 46,887 | 2,638,632 |
Shareholders approved amendments to the Company’s 2022 Equity Incentive Plan to (i) change the evergreen formula from an annual increase to a quarterly increase, and (ii) increase the evergreen percentage from 15% to 18% of outstanding common stock, determined as of the last day of each calendar quarter.
| 5. | Approval of the adjournment of the Annual Meeting to permit further solicitation of proxies, if necessary or appropriate: |
| Votes For | Votes Against | Withheld | ||
| 11,893,967 | 263,718 | 211,964 |
Shareholders approved the adjournment of the Annual Meeting to permit further solicitation of proxies, if necessary or appropriate.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| WORKSPORT LTD. | |||
| Date: | December 12, 2025 | By: | /s/ Steven Rossi |
| Name: | Steven Rossi | ||
| Title: | Chief
Executive Officer (Principal Executive Officer) | ||