Worksport Shareholders Authorize Reverse Split Up to 1-for-250 Amid Nasdaq Compliance Fight
WKSP sits 22% above its 52-week low of $0.465.
Summary
Worksport shareholders approved a broad reverse/forward stock split authorization (up to 1-for-250) at the September 3 annual meeting, giving the Board a compliance tool after the August 13 Nasdaq delisting notice.
Key Events · Corporate Governance and Compliance · WKSP
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Reverse Split Authorization Approved
Shareholders authorized the Board to effect one or more reverse stock splits at an aggregate ratio between 1-for-2 and 1-for-250, or forward splits, at any time before the second anniversary of the Annual Meeting (September 3, 2028).
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Nasdaq Compliance Context
The authorization follows the August 13, 2026 Nasdaq delisting notice for trading below $1.00 for 30 consecutive business days; a reverse split is the primary mechanism to restore the minimum bid price.
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Auditor Ratified
Lumsden & McCormick, LLP was ratified as independent registered public accounting firm for fiscal year ending December 31, 2026, with 23,569,620 votes for.
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Special Dividend Advisory Proposal
Shareholders approved a non-binding proposal supporting Board consideration of special dividends in connection with any sale of a business unit or material asset.
Analysis · WKSP · Manufacturing
Worksport shareholders handed the Board a powerful tool to regain Nasdaq compliance: authorization to execute reverse stock splits at an aggregate ratio as high as 1-for-250, valid for two years. This comes just three weeks after the company received a delisting notice on August 13, 2026 for trading below $1.00 for 30 consecutive business days. The authorization does not itself execute a split — the Board must still decide the exact ratio and timing — but it removes the shareholder-approval hurdle and signals management is preparing to act. The vote also ratified Lumsden & McCormick as auditor and approved an advisory proposal supporting special dividends on any future asset sales, though that proposal is non-binding.
How filings like this one have moved
In the 30 days to Sep 10, 2026, 35.7% of the 1872 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.01%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, WKSP was trading at $0.57 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $8.6M. The 52-week trading range was $0.47 to $3.90. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.