ABRY Senior Equity V, L.P. - 31 Mar 2023 Form 4 Insider Report for PowerFleet, Inc. (AIOT)

Reporting relationship: 10%+ Owner
Issuer ticker: AIOT
Reported as of: 31 Mar 2023
Net transaction value: +$927,531
SEC form: 4
Accepted by SEC: 04 Apr 2023, 16:05:45 UTC
Prior SEC filing: 04 Jan 2023
Source filing: View source filing
Reporting owner signature: /s/ Jay M. Grossman, Manager of ABRY Senior Equity Holdings V, LLC, the general partner of ABRY Senior Equity Investors V, L.P., the general partner of ABRY Senior Equity V, L.P.

Key filing fact

ABRY Senior Equity V, L.P. filed Form 4 for PowerFleet, Inc. (AIOT) on 04 Apr 2023.

Key facts

This page summarizes ABRY Senior Equity V, L.P.'s Form 4 filing for PowerFleet, Inc. (AIOT).
1 reported transaction and 1 derivative row are listed below.
Accepted by SEC: 04 Apr 2023, 16:05.

Change

Previous filing in this sequence was filed on 04 Jan 2023.
Current net transaction value: +$927,531.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

PWFL transaction Derivative

Series A Preferred Stock

Other

Transaction value: $927,531
Shares: +928
Change %: +1.9%
Price: $1000.00^*
Shares after: 50,396
Date: 31 Mar 2023
Ownership: Direct
Underlying class: Common Stock, par value $0.01 per share
Underlying amount: 126,729
Exercise price
Footnotes: F1, F2

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 2 footnotes

Footnote F1

Each share of Series A Preferred Stock is convertible at any time, at the option of the holder, into a number of shares of common stock, par value $0.01 per share, of the Issuer determined by dividing the issue price of the Series A Preferred Stock ($1,000 per share) (the "Issue Price"), plus any accrued and unpaid dividends, by the Series A Conversion Price at the time of conversion. The initial Series A Conversion Price is equal to $7.319, and is subject to adjustment. The Series A Preferred Stock has no expiration date.

Footnote F2

The Reporting Person received 927.531 shares of Series A Preferred Stock (or 126,729 shares of Common Stock on an as-converted basis) as a payment-in-kind dividend on 49,468.341 shares of Series A Preferred Stock (or 6,758,894 shares of Common Stock on an as-converted basis) owned on the dividend record date.