Charles W. Tasker - Feb 28, 2023 Form 4 Insider Report for MiX Telematics Ltd (MIXT)

Role: Chief Operations Officer, Director
Signature: /s/ Tasker Charles W, by Paul M. Dell, as Attorney-in-Fact
Stock symbol: MIXT
Transactions as of: Feb 28, 2023
Transactions value $: $119,687
Form type: 4
Date filed: 2/28/2023, 03:16 PM
Previous filing: Feb 27, 2023
Next filing: Mar 7, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MIXT	Ordinary Shares	Options Exercise	$120K	+460K	+8.02%	$0.26^*	6.2M	Feb 28, 2023	Direct	F1, F2
holding	MIXT	Ordinary Shares						2.43M	Feb 28, 2023	By Wife

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	Stock Appreciation Rights	Options Exercise	$0	+1.1M		$0.00^*	0	Feb 28, 2023	Ordinary Shares	460K	$0.26	Direct	F2, F3, F4

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

Explanation of Responses:

Id	Content
F1	Shareholders are advised of the following information relating to dealings in securities by a director MiX Telematics relating to the exercise of share appreciation rights ("SARs") under the MiX Telematics Limited Long-Term Incentive Plan ("LTIP"). Charles Tasker is exercising 1 100 000 SARS, equating to 460 336 ordinary shares, granted to him under the LTIP as set out in the table below, and his intention is to sell all of the 460 336 shares issued to him in respect of the LTIP. At the conclusion of this process, Charles Tasker's total shareholding will remain unchanged at 326 669 American Depositary Shares (equivalent to 8 166 744 MiX Telematics ordinary shares).
F2	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.
F3	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, 2017 and expire on May 30, 2023.
F4	1,100,000 Stock Appreciation Rights were exercised equating to 460,336 ordinary shares (equivalent to 18,413 ADRs) based on an intrinsic value of 2.49 Rand (equivalent to $0.14) and an exercise price of 5.95 Rand (equivalent to $0.32). The conversion prices reflects the approximate U.S. dollar conversion rate of R18.4106 per U.S Dollar as of February 28, 2023.