MiX Telematics's President and CEO just picked up 620,146 shares

Stefan B Joselowitz, MiX Telematics's President and CEO and a director of the company, recently acquired 620,146 shares of the company. The buys took place at $0.20 per share, on December 28, 2021. Joselowitz now owns 18,712,191 shares of the company. Joselowitz operates out of Midrand, T3. Some additional info was provided as follows:


The conversion price reflects the approximate U.S. dollar conversion rate of R15.6712 as of December 28, 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 dat e that the grant expires. These 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.
1,000,000 Stock Appreciation Rights were exercised equating to 620,146 ordinary shares (equivalent to 24,806 ADRs) based on an intrinsic value of 5.11 Rand (equivalent to $0.33) and an exercise price of 8.24 Rand (equivalent to $0.53). The conversion prices reflects the approximate U.S. dollar conversion rate of R15.6712 as of December 28, 2021. The intention is to retain the resultant ordinary shares.

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

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