Company: IPSI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026455
Chunk: 2231

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 7A
Chunk 2231
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 specifically granted to it under the Plan.

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

Under
the 2021 Plan the Company 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.

On
July 11, 2022, the Board approved, granted and issued 500,000 ten-year incentive stock options, with immediate vesting, to the
Company’s Chairman and Chief Executive Officer at an exercise price of $4.50 per share. This resulted in an immediate expense
of $823,854 for the year ended December 31, 2022.

During 2023, the Company cancelled options exercisable for 23,891 shares of Common Stock due to the previous resignation or
termination of employees and officers whose stock options were not exercised in accordance with the terms allowed under the plan and were
therefore canceled.

During
2024, the Company options exercisable for 6,667 shares of Common Stock expired due to the resignation of a director whose options
were not exercised in accordance with the terms allowed under the plan and were therefore canceled.

A
summary of option activity during the period January 1, 2023 to December 31, 2024 is as follows:

    Shares
 Underlying
 options*  
    Exercise
 price per
 share*  
    Weighted
 average
 exercise
 price* 
  
    Outstanding January 1, 2023 
     1,543,891  
    $1.20 - 12.00  
    $4.47 
  
    Granted 
     -  
     -  
     - 
  
    Forfeited/Cancelled 
     (23,889) 
    $1.20 - 12.00  
     5.41 
  
    Exercised 
     -  
     -  
     - 
  
    Outstanding December 31, 2023 
     1,520,002  
    $1.20 - 12.00  
    $4.46 
  
    Granted 
     -  
     -  
     - 
  
    Forfeited/