Paul M Dell, MiX Telematics's Chief Accounting Officer, recently acquired 119,452 shares of the company. The buys took place at $0.19 per share, on March 11, 2022. Dell now owns 120,452 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 May 30, 2016 and expire on May 30, 2022.
200,000 Stock Appreciation Rights were exercised equating to 119,452 ordinary shares (equivalent to 4,778 ADRs) based on an intrinsic value of 4.36 Rand (equivalent to $0.29) and an exercise price of 7.30 Rand (equivalent to $0.48). The conversion prices reflects the approximate U.S. dollar conversion rate of R15.0660 per U.S Dollar as of March 10, 2022.
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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