Joaquin Fong - Aug 4, 2022 Form 3 Insider Report for PowerFleet, Inc. (PWFL)

Role: Officer
Signature: /s/ Joaquin Fong
Stock symbol: PWFL
Transactions as of: Aug 4, 2022
Transactions value $: $0
Form type: 3
Date filed: 8/12/2022, 04:15 PM

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	PWFL	Common Stock, par value $0.01 per share						21.3K	Aug 4, 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
holding	PWFL	Employee Stock Options (right to buy)							Aug 4, 2022	Common Stock, par value $0.01 per share	24.5K	$5.87	Direct	F2

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

Explanation of Responses:

Id	Content
F1	This amount includes (i) 730 restricted shares of common stock, which shares vest on August 16, 2022, provided that Joaquin Fong (the "Reporting Person") is employed by PowerFleet, Inc. (the "Company") on such date; (ii) 2,428 restricted shares of common stock, which shares vest on June 4, 2023, provided that the Reporting Person is employed by the Company on such date; (iii) 4,091 restricted shares of common stock, 50% of which shares vest on each of November 5, 2022 and November 5, 2023, provided that the Reporting Person is employed by the Company on each such date; and (iv) 5,173 restricted shares of common stock, 33 1/3% of which shares vest on each of February 7, 2023, February 7, 2024 and February 7, 2025, provided that the Reporting Person is employed by the Company on each such date.
F2	On November 5, 2019, the Reporting Person was granted options to purchase 32,727 shares of common stock, par value $0.01 per share, under the Company's 2018 Incentive Plan. 8,182 shares subject to this grant were exercised and sold prior to the date hereof. Of the remaining 24,546 shares subject to this grant, (i) 8,182 shares are currently vested and exercisable and (ii) 16,364 shares will vest and become exercisable in equal parts on each of November 5, 2022 and November 5, 2023, provided that the Reporting Person is employed by the Company on each such date.

Content

This amount includes (i) 730 restricted shares of common stock, which shares vest on August 16, 2022, provided that Joaquin Fong (the "Reporting Person") is employed by PowerFleet, Inc. (the "Company") on such date; (ii) 2,428 restricted shares of common stock, which shares vest on June 4, 2023, provided that the Reporting Person is employed by the Company on such date; (iii) 4,091 restricted shares of common stock, 50% of which shares vest on each of November 5, 2022 and November 5, 2023, provided that the Reporting Person is employed by the Company on each such date; and (iv) 5,173 restricted shares of common stock, 33 1/3% of which shares vest on each of February 7, 2023, February 7, 2024 and February 7, 2025, provided that the Reporting Person is employed by the Company on each such date.

On November 5, 2019, the Reporting Person was granted options to purchase 32,727 shares of common stock, par value $0.01 per share, under the Company's 2018 Incentive Plan. 8,182 shares subject to this grant were exercised and sold prior to the date hereof. Of the remaining 24,546 shares subject to this grant, (i) 8,182 shares are currently vested and exercisable and (ii) 16,364 shares will vest and become exercisable in equal parts on each of November 5, 2022 and November 5, 2023, provided that the Reporting Person is employed by the Company on each such date.

Remarks:

The Reporting Person is the Global Controller, Principal Financial Officer and Principal Accounting Officer of the Company.