Stefan B. Joselowitz - Mar 3, 2023 Form 4 Insider Report for MiX Telematics Ltd (MIXT)

Role: President and CEO, Director
Signature: /s/ Joselowitz Stefan B, by Paul M. Dell, as Attorney-in-Fact
Stock symbol: MIXT
Transactions as of: Mar 3, 2023
Transactions value $: $144,634
Form type: 4
Date filed: 3/7/2023, 10:23 AM
Previous filing: Jun 21, 2022
Next filing: Jun 5, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MIXT	Ordinary Shares	Options Exercise	$145K	+556K	+2.85%	$0.26^*	20.1M	Mar 3, 2023	Direct	F1, F2

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	Mar 3, 2023	Ordinary Shares	556K	$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 of MiX Telematics relating to the exercise of share appreciation rights ("SARs") under the MiX Telematics Limited Long-Term Incentive Plan ("LTIP"). Stefan Joselowitz is exercising 1 100 000 SARS, equating to 556 286 ordinary shares, granted to him under the LTIP as set out in the table below, and his intention is to retain these shares, thereby increasing his direct beneficial shareholding in MiX Telematics to 802 235 American Depositary Shares (equivalent to 20 055 865 ordinary shares). He will be paying the associated costs of this transaction out of pocket.
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 556,286 ordinary shares (equivalent to 22,251 ADRs) based on an intrinsic value of 3.54 Rand (equivalent to $0.19) and an exercise price of 7.00 Rand (equivalent to $0.39). The conversion prices reflects the approximate U.S. dollar conversion rate of R18.1656 as of March 3, 2023.