Company: IPSI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026455
Chunk: 896

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 3
Chunk 896
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Director Compensation

Board of Directors
Compensation

The executive directors
were not paid any fees for their service as directors; however, each of Messrs. Rosenblum and Corbett received compensation for service
as officers of Innovative Payment Solutions, Inc.

The following table sets
forth information for the fiscal year ended December 31, 2024 regarding the compensation of our directors who on December 31, 2024 were
not also our named executive officers.

    Name 
    Fees Earned or Paid in Cash  
    Option Awards  
    Other  
    Total 
  
    Madisson Butler (1) 
    $18,000  
    $       -  
    $    -  
    $18,000 
  
    David Rios(1) 
    $18,000  
    $-  
    $-  
    $18,000 

(1)As of December 31, 2024, the
following table sets forth the number of aggregate outstanding stock awards held by each of our directors who were not also named executive
officers:

    Aggregate 

    Number of 
  
    Name 
    Stock Awards 
  
    Madisson Butler (1) 
     73,334 
  
    David Rios(2) 
     40,001 

    (1)
    
    On July 22, 2021, the Company granted Ms. Butler,
    a director of the Company, 66,667 shares of restricted common stock pursuant to the terms of the 2021 Stock Incentive Plan, which was
    approved by the Board of Directors in August 2021, subject to approval of the 2021 Plan by the shareholders, which approval was obtained
    at the annual general meeting held on October 22, 2021.
     
    On September 13, 2022, the Company granted Ms.
    Butler, a director of the Company, an option to purchase 6,667 shares of the Company’s common stock at an exercise price of $1.20
    per share.

    (2)
    
    On July 22, 2021, the Company granted Mr. Rios,
    a director of the Company, 33,334 shares of restricted common stock pursuant to the terms of the 2021 Stock Incentive Plan, which was
    approved by the Board of Directors in August