Open report — full analysis, no account required.
Sign up to generate reports and read filings that aren't on the open list.
Get notified when WKSP files again. Create a free account and we'll email you the moment its next filing is analyzed.
Get filing alertsWorksport CEO takes $50K in stock instead of cash bonus, adds 79,618 shares
Filed June 9, 2026 · Period ending June 5, 2026 · ~1 min read
Key Changes
-
medium
CEO Steven Rossi acquired 79,618 shares at $0.628 per share (market price on June 5) by converting $50,000 of unpaid bonus compensation into equity instead of taking cash.
Item 3.02 verify on EDGAR → -
medium
Transaction preserves company cash by converting a liability into equity, while CEO's choice to take stock over cash may signal confidence in the company's prospects.
Item 3.02 verify on EDGAR → -
low
Shares were issued under exemption from registration as a non-public offering to a single executive, approved by the Board of Directors.
Item 3.02 verify on EDGAR →
Summary
Worksport's CEO Steven Rossi elected to receive 79,618 shares of common stock instead of a $50,000 cash bonus payment that the company owed him. The shares were issued at $0.628 each, matching the market closing price on June 5, 2026. This transaction converts a cash liability on Worksport's books into equity, preserving working capital at a time when cash management is critical for the small-cap manufacturer.
For retail investors, the CEO's willingness to take stock over cash can be interpreted as a positive signal about management's confidence in the company's future value. However, it also highlights that Worksport had accrued but unpaid bonus compensation, suggesting potential cash constraints. The 79,618 shares represent modest dilution given the company's outstanding share count.
Watch for: Whether this becomes a pattern of equity-based compensation in lieu of cash, which could indicate ongoing liquidity challenges, or whether it's a one-time arrangement. Also monitor insider trading activity to see if the CEO holds or sells these shares.
Section-by-Section Diff
Event · Item 7.01 — Regulation FD Disclosure
Item 7.01 — Regulation FD Disclosure filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
the Company issued a press release announcing that its Chief Executive Officer elected to receive shares of the Company’s Common Stock in lieu of cash payment of a portion of his accrued bonus compensation
The CEO chose to take stock instead of cash for part of his earned bonus. This converts a cash liability into equity, preserving company cash while potentially signaling CEO confidence in the stock. The specific amount and number of shares are not disclosed in the 8-K body itself.
Event · Item 9.01 — Financial Statements and Exhibits
Worksport filed an 8-K attaching a press release dated June 9, 2026; no material event details disclosed in the filing body.
Added in current filing · verify on EDGAR →
Press Release, dated June 9, 2026
The 8-K references an attached press release dated June 9, 2026, but the filing body does not disclose the content or subject matter of that release. Without the exhibit text, the nature and materiality of the disclosed event cannot be determined from this filing.
Thanks — your feedback helps us improve report quality.
Figures/quotes linked to EDGAR · Narrative written by AI · Jun 9, 2026 · How we verify