Towe Steven Mark 4
4 · Powerfleet, Inc. · Filed Feb 27, 2026
Research Summary
AI-generated summary of this filing
Powerfleet (AIOT) CEO Steven Towe Receives RSU Award
What Happened Steven Towe, Chief Executive Officer of Powerfleet, Inc. (AIOT), was granted a total of 580,635 restricted stock units (RSUs) on February 25, 2026. The grant consists of 193,545 time‑based RSUs and 387,090 performance‑based RSUs. Each RSU is a contingent right to one share of common stock; the reported acquisition price is $0.00 (these are awards, not open‑market purchases).
Key Details
- Transaction date: February 25, 2026. Transaction code: A (award/grant).
- Shares granted: 193,545 time‑based RSUs and 387,090 performance‑based RSUs (total target = 580,635 RSUs).
- Price: $0.00 per RSU (awarded, not purchased). No immediate cash exchanged.
- Shares owned after transaction: Not disclosed in this Form 4 filing.
- Notable footnotes:
- Time‑based RSUs vest in equal installments over three years, subject to continued employment (F1).
- Performance RSUs are target awards; actual payout ranges from 0% to 167% of target depending on achievement of specified performance criteria (F2).
- Filing timeliness: No late‑filing indication in the provided data.
Context RSU grants are a common form of executive compensation and do not represent an immediate sale or purchase of stock—value is realized only if and when RSUs vest and convert to shares. The performance‑based portion means final shares received could be lower or higher than the target depending on company performance; the time‑based portion vests over three years conditional on continued employment.
Insider Transaction Report
- Award
Common Stock, par value $0.01 per share
[F1]2026-02-25+193,545→ 2,526,237 total - Award
Common Stock, par value $0.01 per share
[F2]2026-02-25+387,090→ 2,913,327 total
Footnotes (2)
- [F1]On February 25, 2026 (the "Grant Date"), the reporting person was granted 193,545 restricted stock units ("RSUs") under the Powerfleet, Inc. 2018 Incentive Plan, as amended (the "2018 Plan"), in consideration for his services as the Chief Executive Officer ("CEO") of Powerfleet, Inc. (the "Company"). Each RSU represents a contingent right to receive one share of the Company's common stock, par value $0.01 per share ("Common Stock"), upon vesting. Subject to the terms and conditions of a restricted stock unit award agreement and the 2018 Plan, the RSUs vest in equal installments over a three-year period, provided that the reporting person is employed by the Company on each applicable vesting date.
- [F2]On the Grant Date, the reporting person was granted 387,090 performance-based RSUs under the 2018 Plan in consideration for his services as the CEO of the Company. Each RSU represents a contingent right to receive one share of Common Stock upon vesting. The number of RSUs reported represents the target number of RSUs that may be earned by the reporting person. Subject to the terms and conditions of a restricted stock unit award agreement and the 2018 Plan, the actual number of RSUs earned by the reporting person ranges from 0% and 167% of the target number based upon the achievement by the Company of certain performance criteria.