Paul M. Dell - 11 Mar 2022 Form 4 Insider Report for MiX Telematics Ltd

Role: Chief Accounting Officer
Signature: /s/ Paul M. Dell, by John R Granara III, as Attorney-in-Fact
Issuer symbol: N/A
Transactions as of: 11 Mar 2022
Net transactions value: +$22,696
Form type: 4
Filing time: 11 Mar 2022, 16:14:28 UTC
Previous filing: 02 Mar 2022
Next filing: 22 Mar 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MIXT	Ordinary Shares	Options Exercise	$22,696	+119,452	+11945%	$0.1900^*	120,452	11 Mar 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	+200,000		$0.000000^*	0	11 Mar 2022	Ordinary Shares	119,452	$0.1900	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 May 30, 2016 and expire on May 30, 2022.
F3	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.