Powell Michael Joseph 4
4 · Powerfleet, Inc. · Filed Feb 27, 2026
Research Summary
AI-generated summary of this filing
Powerfleet (AIOT) CIO Michael Powell Receives RSU Awards
What Happened Michael J. Powell, Powerfleet’s Chief Innovation Officer, was granted two awards on February 25, 2026 under the company's 2018 Incentive Plan: 38,709 restricted stock units (RSUs) that vest over time and 77,418 performance‑based RSU targets. Both grants were recorded at an acquisition price of $0.00 (compensation awards), so no cash was paid by the reporting person at grant.
Key Details
- Transaction date: 2026-02-25; acquisition code: A (award/grant).
- Instrument & amounts: 38,709 time‑based RSUs; 77,418 performance‑based RSU targets.
- Price: $0.00 per RSU (granted as compensation).
- Shares owned after transaction: not disclosed in this Form 4.
- Notable footnotes:
- Time‑based RSUs vest in equal installments over three years, contingent on continued employment (Footnote F1).
- Performance RSUs are awarded at target of 77,418 and will pay out between 0% and 167% of target based on company performance (Footnote F2).
- Filing timeliness: Form 4 filed 2026-02-27 for a 2026-02-25 grant—filed within the standard reporting window.
Context RSUs are compensation awards that convert to actual shares only if and when they vest (time‑vesting) or performance criteria are met (performance RSUs). Performance awards can result in fewer than target shares (including zero) or up to 167% of target (i.e., materially more shares) depending on the company’s achievement of specified goals. These grants reflect standard executive compensation practice and do not represent an open‑market purchase or sale.
Insider Transaction Report
- Award
Common Stock, par value $0.01 per share
[F1]2026-02-25+38,709→ 114,781 total - Award
Common Stock, par value $0.01 per share
[F2]2026-02-25+77,418→ 192,199 total
Footnotes (2)
- [F1]On February 25, 2026 (the "Grant Date"), the reporting person was granted 38,709 restricted stock units ("RSUs") under the Powerfleet, Inc. 2018 Incentive Plan, as amended (the "2018 Plan"), in consideration for his services as the Chief Innovation Officer ("CIO") 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 77,418 performance-based RSUs under the 2018 Plan in consideration for his services as the CIO 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.