William D. Corbett - Jul 22, 2021 Form 4 Insider Report for Innovative Payment Solutions, Inc. (IPSI)

Role: CHARIMAN AND CEO, Director
Signature: /s/ William D. Corbett
Stock symbol: IPSI
Transactions as of: Jul 22, 2021
Transactions value $: $0
Form type: 4
Date filed: 8/25/2021, 08:40 PM
Next filing: Jul 13, 2022

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	IPSI	Common Stock Purchase Warrant	Disposed to Issuer	$0	-20M	-100%	$0.00^*	0	Feb 22, 2021	Common Stock	20M	$0.24	Direct	F1
transaction	IPSI	Stock Option	Award	$0	+20M		$0.00	20M	Aug 16, 2021	Common Stock	20M	$0.15	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The two reported transactions involved relate to an amended employment agreement dated August 16, 2021 for William Corbett ("Mr. Corbett") which cancelled Mr. Corbett's February 22, 2021 Warrant Agreement for 20,000,000 shares (the "Warrant Agreement"). The warrants in this Warrant Agreement were replaced with stock options (the "Corbett Options"). Fifty percent (50%) of the shares in the Corbett Options vested on August 16, 2021, and the remaining fifty percent (50%) of the shares vest at the rate of 1/36th per month over a three-year period.

Content

The two reported transactions involved relate to an amended employment agreement dated August 16, 2021 for William Corbett ("Mr. Corbett") which cancelled Mr. Corbett's February 22, 2021 Warrant Agreement for 20,000,000 shares (the "Warrant Agreement"). The warrants in this Warrant Agreement were replaced with stock options (the "Corbett Options"). Fifty percent (50%) of the shares in the Corbett Options vested on August 16, 2021, and the remaining fifty percent (50%) of the shares vest at the rate of 1/36th per month over a three-year period.