Paul M. Dell - Feb 9, 2022 Form 4 Insider Report for MiX Telematics Ltd (MIXT)

Role: Chief Accounting Officer
Signature: /s/ Paul M. Dell, by John R Granara III, as Attorney-in-Fact
Stock symbol: MIXT
Transactions as of: Feb 9, 2022
Transactions value $: $29,656
Form type: 4
Date filed: 2/11/2022, 07:17 AM
Previous filing: Jul 24, 2023
Next filing: Mar 2, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MIXT	Ordinary Shares	Options Exercise	$29.7K	+124K	+12356.5%	$0.24^*	125K	Feb 9, 2022	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	MIXT	Share Appreciation Rights	Options Exercise	$0	+200K		$0.00^*	0	Feb 9, 2022	Ordinary Shares	124K	$0.24	Direct	F1, F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	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.
F2	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.
F3	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.