Towe Steven Mark 4

What Happened

• Steven Mark Towe, CEO of Powerfleet, had restricted stock awards vest and the company withheld shares to satisfy tax withholding obligations. Two withholding transactions occurred: 76,272 shares at $4.57 each (value $348,563) on 2025-07-27 and 48,959 shares at $5.32 each (value $260,462) on 2026-01-01, totaling 125,231 shares and about $609,025.
• This was a tax-withholding disposition (transaction code F). According to the filing footnote, the reporting person did not sell any shares on those dates — shares were withheld by the company to cover taxes.

Key Details

• Transaction dates and amounts:
  • 2025-07-27: 76,272 shares withheld @ $4.57 = $348,563
  • 2026-01-01: 48,959 shares withheld @ $5.32 = $260,462
• Total shares withheld: 125,231; total value ≈ $609,025.
• Footnote: F1 — shares were withheld by Powerfleet to satisfy tax withholding upon vesting of restricted stock awards; reporting person did not sell shares.
• Filing: Form 4 filed 2026-02-27 reporting transactions on 2025-07-27 (the filing date is well after the initial transaction date), so this filing appears late relative to typical Form 4 reporting timelines.

Context

• Tax-withholding by the issuer is a routine, administrative disposition and does not necessarily indicate the insider sold shares on the open market or signals a change in view. For retail investors, purchases are often more informative about insider confidence; withholding to cover taxes is common after RSU vesting.