Company: IPSI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026455
Chunk: 1038

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 4
Chunk 1038
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, 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 interests of our company and our stockholders by providing directors, officers, employees and consultants
of our company with appropriate incentives and rewards to encourage them to enter into and continue in the employ or service of our company,
to acquire a proprietary interest in our long-term success and to reward the performance of individuals in fulfilling long-term corporate
objectives.

On June 18, 2018,
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