Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On December 15, 2022, the Board of Directors (the "Board") of Forza X1, Inc. (the "Company") awarded (i) James Leffew, the Company's Chief Executive Officer an option to purchase 100,000 shares of the Company's common stock (the "Common Stock"); (ii) Joseph Visconti, the Company's Executive Chairman and Chief Product Officer an option to purchase 100,000 shares of the Company's Common Stock; and (iii) Nicole Camacho, the Company's Chief Financial Officer an option to purchase 10,000 shares of Common Stock.

The stock options granted to Mr. Leffew, Mr. Visconti and Ms. Camacho have an exercise price of $1.33 per share, which was the closing price of the Common Stock on the date of the grant (December 15, 2022), vest pro rata, on a monthly basis, over 36 consecutive months and expire ten (10) years from the date of the grant, unless terminated earlier. The stock options were granted pursuant to the Company's 2022 Stock Incentive Plan, and the Company's effective registration statement on Form S-8 for the 2022 Stock Incentive Plan.

Item 9.01. Financial Statements and Exhibits.





(d) Exhibits.




Exhibit
Number    Description
  104     Cover Page Interactive Data File (embedded within the XBRL document)

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