Company: IPSI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026455
Chunk: 595

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1C
Chunk 595
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 of our company as of the end of the last completed fiscal year. The tables below reflect the compensation
for the IPSI executive officers who are also named executive officers of the combined company.

    Name and principal position 
    Year 
    Salary  
    Bonus  
    Stock awards  
    Option awards  
    All other comp.  
    Total 
  
    William Corbett, 
    2024 
    $180,000  
    $      -  
    $     -  
    $155,369(a) 
    $2,541(b) 
    $337,910 
  
    Chairman of the Board and Chief Executive Officer (1) 
    2023 
    $360,000  
    $-  
    $-  
    $266,346(a) 
    $15,247(c) 
    $641,594 

    Richard Rosenblum 
    2024 
    $216,000  
    $-  
    $-  
    $65,047(e) 
    $4,063(g) 
    $285,110 
  
    Chief Financial Officer and President (2) 
    2023 
    $216,000  
    $-  
    $-(d) 
    $111,510(e) 
    $19,034(h) 
    $346,544 

    (1)
    Mr. Corbett was appointed as Chief Executive Officer on August 6, 2019 and appointed as Chairman of the board on February 22, 2021.

    (2)
    Mr. Rosenblum was appointed as our President and Chief Financial Officer on July 22, 2021.

    (a)
    On July 11, 2022, Mr. Corbett was granted a ten-year option exercisable for 500,000 shares of common stock at an exercise price of $4.50 per share, of which all vested, in addition, on August 16, 2021, Mr. Corbett was granted an option with a ten-year term exercisable for 666,667 shares of common stock at an exercise price of $4.50 per share, of which all are vested.

    (b)
    Consists of $1,343 of healthcare expenses and $1,198 of car allowance for the benefit of Mr. Corbett.

    (c)
    Cons