Worksport (WKSP) Proxy Filing summary

Executive summary

• The annual meeting will be held virtually on December 6, 2024, with stockholders voting on four key proposals, including director elections, auditor ratification, executive compensation, and potential adjournment for further proxy solicitation.

• The Board recommends voting in favor of all proposals, emphasizing their alignment with the best interests of the company and its stockholders.

• Proxy materials are primarily distributed electronically to reduce costs and environmental impact, with printed copies available upon request.

Voting matters and shareholder proposals

• Stockholders will vote to elect five directors, ratify Lumsden & McCormick, LLP as independent auditors, approve executive compensation on a non-binding basis, and approve adjournment if needed.

• The Board unanimously recommends voting FOR all proposals.

• No other shareholder proposals or business are anticipated at the meeting.

Board of directors and corporate governance

• The Board consists of five members, with three classified as independent under Nasdaq rules.

• Committees include Audit, Compensation, and Nominating & Corporate Governance, each with defined charters and independent membership.

• The Board is responsible for risk oversight, with committees addressing specific risk areas.

• Board diversity is disclosed per Nasdaq requirements, though no formal diversity policy is yet in place.