8-K: Worksport Appoints Jennifer Kartychak as New CFO

Worksport Ltd. has announced the resignation of CFO Michael Johnston and the appointment of Jennifer Kartychak as his successor, effective May 1, 2026.

Summary

• Michael Johnston resigned as CFO, Principal Financial Officer, and Principal Accounting Officer effective April 30, 2026.
• Jennifer Kartychak, previously the company's VP of Finance, has been appointed as the new CFO effective May 1, 2026.
• The transition is part of the company's move toward an in-house finance function.
• Ms. Kartychak's compensation includes a $220,000 base salary, a $75,000 target annual bonus, and a stock option grant for 100,000 shares.
• The company also authorized a grant of 13,000 shares to Arend Advisory Group LLC, an entity owned by Ms. Kartychak.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral administrative update; while executive turnover is always a watch item, the transition appears orderly and planned.

Positives

• The incoming CFO has over 10 years of public accounting experience, including five years at Ernst & Young.
• Ms. Kartychak has prior experience with SEC reporting and internal controls from her tenure at Moog Inc.
• The transition is described as amicable, with no disagreements regarding financial reporting or accounting practices.

Negatives

• The departure of a CFO can create short-term uncertainty regarding financial leadership continuity.
• The company has a history of significant consulting payments to the new CFO's firm, totaling over $300,000 between 2023 and 2025.

Risks

• Potential disruption during the transition to an in-house finance function.
• Reliance on key personnel during a period of executive leadership change.

Future Outlook

The company intends to complete the transition to an in-house finance function under the leadership of the newly appointed CFO.

Management Comments

• The resignation of Mr. Johnston was not the result of any disagreement with the Company regarding its operations, policies or practices.

Industry Context

StockSavvy.ai notes that the transition to an in-house finance function is a common maturation step for small-cap companies moving away from heavy reliance on external consultants, though it requires robust internal controls to ensure compliance.

Comparison to Industry Standards

• The compensation package for the CFO is consistent with market standards for small-cap manufacturing and technology firms.
• The transition from a long-term consultant to an internal CFO is a standard progression for companies scaling their operations.

Management Changes

Corporate Governance

Related Party Transactions

• The company previously engaged Arend Advisory Group LLC, owned by the new CFO, for consulting services totaling approximately $300,000 over three years.

Stakeholder Impact

• Shareholders should monitor the effectiveness of the new CFO in managing the company's financial reporting and internal controls.

Next Steps

• Completion of the transition to an in-house finance function.

Key Dates

Keywords

Worksport, CFO, Executive Appointment, Corporate Governance, WKSP, SEC Filing