MiX Telematics's President and CEO just picked up 589,958 shares

Stefan B Joselowitz, MiX Telematics's President and CEO and a director of the company, recently acquired 589,958 shares of the company. The buys took place at $0.19 per share, on March 23, 2022. Joselowitz now owns 19,302,149 shares of the company. Joselowitz 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 1 0% 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.
1,000,000 Stock Appreciation Rights were exercised equating to 589,958 ordinary shares (equivalent to 23,598 ADRs) based on an intrinsic value of 4.23 Rand (equivalent to $0.28) and an exercise price of 7.17 Rand (equivalent to $0.48). The conversion prices reflects the approximate U.S. dollar conversion rate of R14.8812 as of March 22, 2022.

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

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