Steven Mark Towe - Mar 30, 2025 Form 4 Insider Report for Powerfleet, Inc. (AIOT)

Role
Chief Executive Officer, Director
Signature
/s/ David Wilson, as Attorney-In-Fact
Stock symbol
AIOT
Transactions as of
Mar 30, 2025
Transactions value $
$0
Form type
4
Date filed
4/1/2025, 09:21 PM
Previous filing
May 10, 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AIOT Common Stock, par value $0.01 per share Award $0 +313K +47.22% $0.00 974K Mar 30, 2025 Direct F1
transaction AIOT Common Stock, par value $0.01 per share Award $0 +313K +32.08% $0.00 1.29M Mar 30, 2025 Direct F2
transaction AIOT Common Stock, par value $0.01 per share Award $0 +313K +24.29% $0.00 1.6M Mar 30, 2025 Direct F3
transaction AIOT Common Stock, par value $0.01 per share Award $0 +313K +19.54% $0.00 1.91M Mar 30, 2025 Direct F4
transaction AIOT Common Stock, par value $0.01 per share Award $0 +174K +9.12% $0.00 2.09M Mar 30, 2025 Direct F5
transaction AIOT Common Stock, par value $0.01 per share Award $0 +349K +16.71% $0.00 2.43M Mar 30, 2025 Direct F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On March 30, 2025 (the "Grant Date"), Steve Towe (the "Reporting Person") was granted 312,500 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 for his services 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 in equal installments over a three-year period, provided that the Reporting Person is employed by the Company on each such date.
F2 On the Grant Date, the Reporting Person was granted 312,500 restricted shares of Common Stock under the Company's 2018 Plan in consideration for his services 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 in equal installments over a three-year period following the date on which the volume weighted average price of the Common Stock during a consecutive 60 trading day period (the "60 Day VWAP") reaches $6.00 per share, provided that the Reporting Person is employed by the Company on each such date.
F3 On the Grant Date, the Reporting Person was granted 312,500 restricted shares of Common Stock under the Company's 2018 Plan in consideration for his services 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 in equal installments over a three-year period following the date on which the 60 Day VWAP reaches $8.00 per share, provided that the Reporting Person is employed by the Company on each such date.
F4 On the Grant Date, the Reporting Person was granted 312,500 restricted shares of Common Stock under the Company's 2018 Plan in consideration for his services 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 in equal installments over a three-year period following the date on which the 60 Day VWAP reaches $10.00 per share, provided that the Reporting Person is employed by the Company on each such date.
F5 On the Grant Date, the Reporting Person was granted 174,337 restricted shares of Common Stock under the Company's 2018 Plan in consideration for his services 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 in equal installments over a three-year period, provided that the Reporting Person is employed by the Company on each such date.
F6 The number of shares represents the target number of shares that may be earned by the Reporting Person based on achievement by the Company of certain performance criteria. The actual number of shares awarded may vary between 0% and 150% of the target, depending on the Company's performance.