Company: IPSI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026455
Chunk: 899

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 3
Chunk 899
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The information provided
in the table is based on our records, information filed with the SEC, and information provided to us, except where otherwise noted.

    Name of Beneficial Owner 
    Amount and Nature of Beneficial Ownership Common Stock Included*  
    Percentage of Common Stock Beneficially Owned 

    William Corbett (Chief Executive Officer) 
     2,183,168(1) 
     3.0%

    Richard Rosenblum (President and Chief Financial Officer) 
     466,668(2) 
     **

    Madisson Butler (Director) 
     273,334(3) 
     ** 

    David Rios (Director) 
     240,001(4) 
     ** 

    All officers and directors as a group (4 persons) 
     3,163,171  
     4.4%

*Excludes any shares deemed
to be outstanding on variable priced convertible securities.

**Less than 1%

    (1)
    Includes (i) 683,167 restricted shares of common stock. (ii) a ten-year option granted to Mr. Corbett on August 16, 2021 exercisable for 666,667 shares of common stock, of which all are vested, and (iii) a ten year option granted to Mr. Corbett on July 11, 2022 exercisable for 500,000 shares of common stock at an exercise price of $4.50, all of which are vested, and (iv) a ten year option granted to Mr. Corbett on January 7, 2025 of which 316,667 are vested and a further 16,667 vest within the next 60 days.

(2)Consists of 133,334 shares
of restricted common stock and options exercisable for 333,334 shares of common stock of which all are vested.

(3)Consists of 266,667 shares
of restricted common stock and a ten-year option granted to Ms. Butler on September 15, 2022 exercisable for 6,667 shares of common stock
at an exercise price of $1.20, all of which are vested.

(4)Consists of 233,334 shares
of restricted common stock and a ten-year option granted to Mr. Rios on September 15, 2022 exercisable for 6,667 shares of common
stock