0001104659-24-043745.txt : 20240404 0001104659-24-043745.hdr.sgml : 20240404 20240404200412 ACCESSION NUMBER: 0001104659-24-043745 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20240402 FILED AS OF DATE: 20240404 DATE AS OF CHANGE: 20240404 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Dell Paul M CENTRAL INDEX KEY: 0001809417 ORGANIZATION NAME: FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-36027 FILM NUMBER: 24824468 MAIL ADDRESS: STREET 1: P.O. BOX 12326 STREET 2: VORNA VALLEY CITY: JOHANNESBURG STATE: T3 ZIP: 1686 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: MiX Telematics Ltd CENTRAL INDEX KEY: 0001576914 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] ORGANIZATION NAME: 06 Technology IRS NUMBER: 000000000 STATE OF INCORPORATION: T3 FISCAL YEAR END: 0331 BUSINESS ADDRESS: STREET 1: PO BOX 12326 STREET 2: VORNA VALLEY CITY: JOHANNESBURG STATE: T3 ZIP: 1686 BUSINESS PHONE: 27-11-654-8279 MAIL ADDRESS: STREET 1: PO BOX 12326 STREET 2: VORNA VALLEY CITY: JOHANNESBURG STATE: T3 ZIP: 1686 4 1 tm2411095-8_4seq1.xml OWNERSHIP DOCUMENT X0508 4 2024-04-02 1 0001576914 MiX Telematics Ltd MIXT 0001809417 Dell Paul M HOWICK CLOSE, WATERFALL PARK BEKKER ROAD MIDRAND T3 1686 SOUTH AFRICA 0 1 0 0 Group Chief Financial Officer 0 Ordinary Shares 2024-04-02 4 D 0 594889 D 0 D Stock Appreciation Rights 0.56 2024-04-02 4 D 0 500000 D Ordinary Shares 500000 0 D Stock Appreciation Rights 0.34 2024-04-02 4 D 0 500000 D Ordinary Shares 500000 0 D Stock Appreciation Rights 0.47 2024-04-02 4 D 0 500000 D Ordinary Shares 500000 0 D Stock Appreciation Rights 0.28 2024-04-02 4 D 0 585000 D Ordinary Shares 585000 0 D Stock Appreciation Rights 0.27 2024-04-02 4 D 0 500000 D Ordinary Shares 500000 0 D On April 2, 2024 (the "Scheme Implementation Date"), the parties to the implementation agreement, dated as of October 10, 2023 (the "Agreement"), by and among MiX Telematics Limited ("MiX Telematics"), Powerfleet, Inc. ("Powerfleet), and Main Street 2000 Proprietary Limited ("Powerfleet Sub"), completed the transactions contemplated thereby (the "Business Combination"), pursuant to which (i) Powerfleet Sub acquired all of the issued ordinary shares of Mix Telematics, no par value ("MiX Ordinary Shares"), including the MiX Ordinary Shares represented by Mix Telematics' American Depositary Shares, through the implementation of a scheme of arrangement (the "Scheme") in accordance with Sections 114 and 115 of the South African Companies Act, No. 71 of 2008, as amended, in exchange for shares of common stock, par value $0.01 per share, of Powerfleet ("Powerfleet Common Stock") and (ii) as a result of the transactions, including the Scheme, contemplated by the Agreement, MiX Telematics became an indirect, wholly owned subsidiary of Powerfleet. Disposed of pursuant to the Agreement in exchange for 75,920 shares of Powerfleet Common Stock having a market value of approximately $388,710 on the Scheme Implementation Date. For purposes of this table, the award price has been converted, based on the South African Rand/U.S. dollar exchange rate in effect as of grant date. The Stock Appreciation Rights (each, a "MiX SAR") time vest in 25% tranches beginning on the second anniversary of the applicable grant date subject to the executive's continued employment and were subject to a performance-based condition that a minimum total shareholder return of 10% must be achieved prior to the date that the grant expires. These MiX SARs were granted on August 5, 2019 and expire on August 5, 2025. The MiX SARs time vest in 25% tranches beginning on the second anniversary of the applicable grant date subject to the executive's continued employment and were subject to a performance-based condition that a minimum total shareholder return of 10% must be achieved prior to the date that the grant expires. These MiX SARs were granted on June 1, 2020 and expire on June 1, 2026. The MiX SARs time vest in 25% tranches beginning on the second anniversary of the applicable grant date subject to the executive's continued employment and were subject to a performance-based condition that a minimum total shareholder return of 10% must be achieved prior to the date that the grant expires. These MiX SARs were granted on December 9, 2021 and expire on December 9, 2027. The MiX SARs time vest in 25% tranches beginning on the second anniversary of the applicable grant date subject to the executive's continued employment and were subject to a performance-based condition that a minimum total shareholder return of 10% must be achieved prior to the date that the grant expires. These MiX SARs were granted on November 1, 2022 and expire on November 1, 2028. The MiX SARs time vest in 25% tranches beginning on the second anniversary of the applicable grant date subject to the executive's continued employment and were subject to a performance-based condition that a minimum total shareholder return of 10% must be achieved prior to the date that the grant expires. These MiX SARs were granted on June 26, 2023 and expire on June 26, 2029. Each MiX SAR outstanding immediately prior to the Scheme Implementation Date, whether or not vested or exercisable, was assumed by Powerfleet and replaced with a stock appreciation right, with the same terms and conditions as were applicable to such MiX SAR (each, a "Powerfleet SAR"), except that (i) the applicable performance conditions were waived in connection with the Business Combination and (ii) each Powerfleet SAR will constitute a stock appreciation right with respect to the number of shares of Powerfleet Common Stock determined by multiplying (x) the number of MiX Ordinary Shares subject to such MiX SAR immediately prior to the Scheme Implementation Date by (y) 0.12762 (rounded down to the nearest whole number of shares), with a per-share exercise price equal to the (A) the exercise price per MiX Ordinary Share subject to such MiX SAR immediately prior to the Scheme Implementation Date by (B) 0.12762 (rounded up to the nearest one hundredth of a cent). /s/ Paul M. Dell 2024-04-04