Company: IPSI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026455
Chunk: 307

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 307
---
,
we established our 2018 Stock Incentive Plan (the “Plan”). The Plan terminates after a period of ten years in June 2028.
The Plan is administered by our board of directors, or a committee appointed by our board of directors who have the authority to administer
the Plan and to exercise all the powers and authorities specifically granted to it under the Plan.

The maximum number of
securities available under the Plan is 26,667 shares of Common Stock. The maximum number of shares of Common Stock awarded to any
individual during any fiscal year may not exceed 3,333 shares of Common Stock.

36

On October 22, 2021,
our board of directors and stockholders established our 2021 Stock Incentive Plan (the “2021 Plan”). The 2021 Plan terminates
after a period of ten years in August 2031.

The maximum number of
securities available under the 2021 Plan is 1,766,667 shares of Common Stock.

Under the 2021 Plan,
we may award the following: (i) non-qualified stock options; (ii)) incentive stock options; (iii) stock appreciation rights;
(iv) restricted stock; (v) restricted stock unit; and (vi) other stock-based awards.

The following table shows
the information regarding our equity incentive plans as of December 31, 2023:

    Plan Category 
    Number of securities to be issued upon exercise of outstanding options  
    Weighted- average
    exercise price of outstanding options  
    Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a)) 

    (a)  
    (b)  
    (c) 
  
    Equity compensation plans approved by security holders 

    2018 Equity Incentive Plan 
     —  
    $—  
     26,667 
  
    2021 Equity Incentive Plan 
     1,513,335  
     4.47  
     253,332 
  
    Equity compensation plans not approved by security holders 

    None 
     —  
     —  
     — 
  
    Total 
     1,513,335  
    $4.47  
     279,999 

Item 12. Security Ownership of Certain
Beneficial Owners and