Paul M Dell, MiX Telematics's Chief Accounting Officer, recently acquired 123,565 shares of the company. The buys took place at $0.24 per share, on February 09, 2022. Dell now owns 124,565 shares of the company. Dell operates out of Midrand, T3. Some additional info was provided as follows:
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 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. 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.
200,000 Stock Appreciation Rights were exercised equating to 123,565 ordinary shares (equivalent to 4,943 ADRs) based on an intrinsic value of 5.06 Rand (equivalent to $0.33) and an exercise price of 8.19 Rand (equivalent to $0.54). The conversion prices reflects the approximate U.S. dollar conversion rate of R15.2986 as of February 9, 2022. 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.
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