China Pharma issues 1.76M shares to CEO to offset accrued compensation; grants option to director

CHINA PHARMA HOLDINGS, INC.

Compensation Committee approved 1,760,000 shares to CEO Zhilin Li at $0.67/share to partially offset $1,666,706 in accrued unpaid cash compensation.
Unpaid cash compensation reduced from $1,666,706 to $487,506 after share issuance.
Director Gene Michael Bennett granted immediate-vest incentive stock option to purchase 65,000 shares at $1.47/share, expiring Sept 9, 2024.
Options granted under 2010 Long-Term Incentive Plan; shares/options vest immediately with no restrictions.

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