Corbett William D. 4
4 · Innovative Payment Solutions, Inc. · Filed Aug 25, 2021
Insider Transaction Report
Form 4
Corbett William D.
DirectorChief Executive Officer
Transactions
- Disposition to Issuer
Common Stock Purchase Warrant
2021-02-22−20,000,000→ 0 totalExercise: $0.24From: 2021-02-22Exp: 2026-02-21→ Common Stock (20,000,000 underlying) - Award
Stock Option
2021-08-16+20,000,000→ 20,000,000 totalExercise: $0.15From: 2021-08-16Exp: 2031-08-16→ Common Stock (20,000,000 underlying)
Footnotes (1)
- [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.