Company: IPSI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026455
Chunk: 1644

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9
Chunk 1644
---
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 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 Mr.
    Rios, 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.

Each director is reimbursed
for travel and other out-of-pocket expenses incurred in attending board of director and committee meetings.

Equity Compensation
Plan Information 

The purpose of our equity
incentive plans is to promote the