Company: IPSI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026455
Chunk: 299

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 299
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    Stock awards  
    Option awards  
    All other comp.  
    Total 
  
    William Corbett, 
    2024 
    $180,000  
    $      -  
    $     -  
    $155,369(a) 
    $2,541(b) 
    $337,910 
  
    Chairman of the Board and Chief Executive Officer (1) 
    2023 
    $360,000  
    $-  
    $-  
    $266,346(a) 
    $15,247(c) 
    $641,594 

    Richard Rosenblum 
    2024 
    $216,000  
    $-  
    $-  
    $65,047(e) 
    $4,063(g) 
    $285,110 
  
    Chief Financial Officer and President (2) 
    2023 
    $216,000  
    $-  
    $-(d) 
    $111,510(e) 
    $19,034(h) 
    $346,544 

    (1)
    Mr. Corbett was appointed as Chief Executive Officer on August 6, 2019 and appointed as Chairman of the board on February 22, 2021.

    (2)
    Mr. Rosenblum was appointed as our President and Chief Financial Officer on July 22, 2021.

    (a)
    On July 11, 2022, Mr. Corbett was granted a ten-year option exercisable for 500,000 shares of common stock at an exercise price of $4.50 per share, of which all vested, in addition, on August 16, 2021, Mr. Corbett was granted an option with a ten-year term exercisable for 666,667 shares of common stock at an exercise price of $4.50 per share, of which all are vested.

    (b)
    Consists of $1,343 of healthcare expenses and $1,198 of car allowance for the benefit of Mr. Corbett.

    (c)
    Consists of $8,059 of healthcare expenses and $7,188 of car allowance for the benefit of Mr. Corbett.

    (d)
    Mr. Rosenblum was granted 2,000,000 restricted shares of common stock on July 11,