Towe Steven Mark 4
4 · PowerFleet, Inc. · Filed Jan 10, 2022
Insider Transaction Report
Form 4
PowerFleet, Inc.PWFL
Towe Steven Mark
DirectorChief Executive Officer
Transactions
- Award
Common Stock, par value $0.01 per share
2022-01-05+200,000→ 200,000 total - Award
Employee Stock Options (right to buy)
2022-01-05+875,000→ 875,000 totalExercise: $10.50Exp: 2032-01-05→ Common Stock, par value $0.01 per share (875,000 underlying) - Award
Employee Stock Options (right to buy)
2022-01-05+500,000→ 500,000 totalExercise: $4.81Exp: 2032-01-05→ Common Stock, par value $0.01 per share (500,000 underlying) - Award
Employee Stock Options (right to buy)
2022-01-05+1,250,000→ 1,250,000 totalExercise: $14.00Exp: 2032-01-05→ Common Stock, par value $0.01 per share (1,250,000 underlying) - Award
Employee Stock Options (right to buy)
2022-01-05+2,000,000→ 2,000,000 totalExercise: $21.00Exp: 2032-01-05→ Common Stock, par value $0.01 per share (2,000,000 underlying)
Footnotes (5)
- [F1]On January 5, 2022 (the "Grant Date"), Steve Towe (the "Reporting Person") was granted 200,000 restricted shares of common stock, par value $0.01 per share ("Common Stock"), of PowerFleet, Inc. (the "Company") under the Company's 2018 Incentive Plan, as amended (the "2018 Plan"), in consideration of his appointment as the Chief Executive Officer of the Company. Subject to the terms and conditions of a restricted stock award agreement and the 2018 Plan, this award vests as to 25% of such shares on each of the first, second, third and fourth anniversaries of the Grant Date, provided that the Reporting Person is employed by the Company on each such date.
- [F2]On the Grant Date, as an inducement material to the Reporting Person's entering into employment with the Company, the Reporting Person was granted options to purchase 500,000 shares of Common Stock. Subject to the terms and conditions of a stock option award agreement, this award vests as to 25% of such options on each of the first, second, third and fourth anniversaries of the Grant Date, provided that the Reporting Person is employed by the Company on each such date.
- [F3]On the Grant Date, as an inducement material to the Reporting Person's entering into employment with the Company, the Reporting Person was granted options to purchase 875,000 shares of Common Stock. Subject to the terms and conditions of a stock option award agreement, this award vests in full if the volume weighted average price of the Common Stock during a consecutive 60 trading day period (the "60 Day VWAP") reaches $10.50 per share, provided that the Reporting Person is employed by the Company on such date.
- [F4]On the Grant Date, as an inducement material to the Reporting Person's entering into employment with the Company, the Reporting Person was granted options to purchase 1,250,000 shares of Common Stock. Subject to the terms and conditions of a stock option award agreement, this award vests in full if the 60 Day VWAP reaches $14.00 per share, provided that the Reporting Person is employed by the Company on such date.
- [F5]On the Grant Date, as an inducement material to the Reporting Person's entering into employment with the Company, the Reporting Person was granted options to purchase 2,000,000 shares of Common Stock. Subject to the terms and conditions of a stock option award agreement, this award vests in full if the 60 Day VWAP reaches $21.00 per share, provided that the Reporting Person is employed by the Company on such date.