EXCLUSIVE: Worksport Chooses Equity Compensation Over Cash

Worksport Ltd (NASDAQ:WKSP) announced Tuesday that its founder and CEO, Steven Rossi, has chosen company stock over cash compensation, signaling confidence in the company's long-term strategy again.

Rossi Takes Shares Instead Of Cash

Worksport said Tuesday that Rossi elected to receive 79,618 shares of the company's common stock instead of $50,000 in cash compensation that would otherwise have been payable to him.

The company issued the shares under a Stock Purchase Agreement dated June 5, 2026, between Rossi and the company.

The shares were priced at $0.6280 each, matching the closing price of Worksport's common stock on the Nasdaq Capital Market on June 5, 2026.

CEO Repeats Stock-Based Compensation Move

This marks the second time Rossi has chosen company shares to satisfy accrued compensation.

In April 2026, he elected to receive 88,214 shares of common stock instead of $75,000 in accrued cash compensation.

Worksport said Rossi's decision reflects his confidence in the company's long-term strategy.

Worksport Highlights Revenue Growth And Product Rollout

Worksport said it has grown annual revenue from about $1.5 million in 2023 to $8.5 million in 2024 and $16.1 million in 2025, while expanding gross margins, increasing dealer penetration, commercializing new products, and investing in infrastructure to support future growth.

Management also said the continued commercial rollout of its Nexus Tonneau Cover, launched in April 2026, along with broader commercialization initiatives, will support its long-term growth objectives.

Worksport Reports Higher Q4 Sales, Margins

In February, Worksport said preliminary fourth-quarter net sales rose 65% year over year to $4.84 million, while gross profit jumped 392% to $1.5 million.

Gross margin expanded 2,100 basis points to 32% as the company shifted production to its West Seneca, New York, facility and offset aluminum cost pressures through manufacturing improvements.

Full-year 2025 revenue rose 91% to $16.2 million from $8.5 million in 2024, but missed the analyst consensus estimate of $19.58 million. Worksport had said it expects to update fiscal 2026 guidance, including revenue and cash-flow positivity targets.

WKSP Price Action: Worksport shares were down 5.85% at $0.66 during premarket trading on Tuesday. The stock is trading near its 52-week low of $0.61, according to Benzinga Pro data.