MiX Telematics's Executive Vice President just picked up 285,910 shares

Gert Pretorius, MiX Telematics's Executive Vice President, recently acquired 285,910 shares of the company. The buys took place at $0.20 per share, on December 20, 2021. Pretorius now owns 1,109,037 shares of the company. Pretorius operates out of Midrand, T3. Some additional info was provided as follows:

The conversion price reflects the approximate U.S. dollar conversion rate of 3.13 Rand as of December 20, 2021.
The Stock Appreciation Rights time vest in 25% tranches beginning on the second anniversary of the grant date subject to the executive's continued employment, provided, however, that the grant is also 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. Thes e Stock Appreciation Rights were granted on August 31, 2015 and would have expired on August 31, 2021, however special dispensation was received to trade at a later date resulting in the new expiration date being February 10, 2022.
500,000 Stock Appreciation Rights were exercised equating to 285,910 ordinary shares (equivalent to 11,436 ADRs) based on an intrinsic value of 4.18 Rand (equivalent to $0.26) and an exercise price of 7.31 Rand (equivalent to $0.46). The conversion prices reflects the approximate U.S. dollar conversion rate of 4.18 Rand and R7.31 respectively as of December 20, 2021.The intention is to dispose of all the resultant ordinary shares.

The above information was disclosed in a filing to the SEC. To see the filing, click here.

To receive a free e-mail notification whenever MiX Telematics makes a similar move, sign up!

Auto Refresh