FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
UNITED STATES SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: | 3235-0287 |
Estimated average | |
burden hours | 0.5 |
per response | |
1. Name and Address of Reporting Person* | 2. Issuer Name and Ticker or Trading Symbol | 5. Relationship of Reporting Person(s) to Issuer | |||||||||||||||||||||||||||||||
Brodsky Michael 0001403388 | Powerfleet, Inc. [ PWFL ] | (Check all applicable) | |||||||||||||||||||||||||||||||
X | Director | 10% Owner | |||||||||||||||||||||||||||||||
Officer (give title | Other (specify | ||||||||||||||||||||||||||||||||
(Last) | (First) | (Middle) | 3. Date of Earliest Transaction (Month/Day/Year) | ||||||||||||||||||||||||||||||
below) | below) | ||||||||||||||||||||||||||||||||
C/O POWERFLEET, INC. | 05/16/2024 | ||||||||||||||||||||||||||||||||
123 TICE BOULEVARD | |||||||||||||||||||||||||||||||||
4. If Amendment, Date of Original Filed (Month/Day/Year) | 6. Individual or Joint/Group Filing (Check Applicable | ||||||||||||||||||||||||||||||||
(Street) | Line) | ||||||||||||||||||||||||||||||||
X Form filed by One Reporting Person | |||||||||||||||||||||||||||||||||
WOODCLIFF NJ | |||||||||||||||||||||||||||||||||
07677 | Form filed by More than One Reporting | ||||||||||||||||||||||||||||||||
LAKE | Person | ||||||||||||||||||||||||||||||||
(City) | (State) | (Zip) | |||||||||||||||||||||||||||||||
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | |||||||||||||||||||||||||||||||||
1. Title of Security (Instr. 3) | 2. Transaction | 2A. | 3. | 4. Securities Acquired (A) or | 5. Amount of | 6. Ownership | 7. Nature | ||||||||||||||||||||||||||
Date (Month/ | Deemed | Transaction | Disposed Of (D) (Instr. 3, 4 and 5) | Securities | Form: Direct | of Indirect | |||||||||||||||||||||||||||
Day/Year) | Execution | Code (Instr. | Beneficially Owned | (D) or Indirect | Beneficial | ||||||||||||||||||||||||||||
Date, if | 8) | Following | (I) (Instr. 4) | Ownership | |||||||||||||||||||||||||||||
any | Reported | (Instr. 4) | |||||||||||||||||||||||||||||||
(Month/ | (A) or | Transaction(s) | |||||||||||||||||||||||||||||||
Day/ | Code | V | Amount | Price | (Instr. 3 and 4) | ||||||||||||||||||||||||||||
Year) | (D) | ||||||||||||||||||||||||||||||||
Common Stock, par value $0.01 per share | 05/16/2024 | A | 18,028(1) | A | $0(1) | 275,206 | D | ||||||||||||||||||||||||||
By Vajra | |||||||||||||||||||||||||||||||||
Common Stock, par value $0.01 per share | 76,000 | I | Fund I, | ||||||||||||||||||||||||||||||
L.P.(2) | |||||||||||||||||||||||||||||||||
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned | |||||||||||||||||||||||||||||||||
(e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||||||||||||||||||||
1. Title of | 2. | 3. Transaction | 3A. | 4. | 5. Number of | 6. Date Exercisable and | 7. Title and Amount of | 8. Price | 9. Number of | 10. | 11. Nature | ||||||||||||||||||||||
Derivative | Conversion | Date (Month/ | Deemed | Transaction | Derivative | Expiration Date (Month/Day/ | Securities Underlying | of | Derivative | Ownership | of Indirect | ||||||||||||||||||||||
Security | or Exercise | Day/Year) | Execution | Code (Instr. | Securities | Year) | Derivative Security | Derivative | Securities | Form: | Beneficial | ||||||||||||||||||||||
(Instr. 3) | Price of | Date, if | 8) | Acquired (A) or | (Instr. 3 and 4) | Security | Beneficially | Direct (D) | Ownership | ||||||||||||||||||||||||
Derivative | any | Disposed of (D) | (Instr. 5) | Owned | or Indirect | (Instr. 4) | |||||||||||||||||||||||||||
Security | (Month/ | (Instr. 3, 4 | Following | (I) (Instr. | |||||||||||||||||||||||||||||
Day/ | and 5) | Reported | 4) | ||||||||||||||||||||||||||||||
Year) | Transaction(s) | ||||||||||||||||||||||||||||||||
Amount | |||||||||||||||||||||||||||||||||
(Instr. 4) | |||||||||||||||||||||||||||||||||
or | |||||||||||||||||||||||||||||||||
Number | |||||||||||||||||||||||||||||||||
Date | Expiration | of | |||||||||||||||||||||||||||||||
Code | V | (A) | (D) | Exercisable | Date | Title | Shares | ||||||||||||||||||||||||||
Stock | Common | ||||||||||||||||||||||||||||||||
Stock, | |||||||||||||||||||||||||||||||||
options | $5.45 | 05/16/2024 | A | 35,920 | (3) | 35,920 | $0(3) | ||||||||||||||||||||||||||
05/16/2034 | par value | 35,920 | D | ||||||||||||||||||||||||||||||
(right | |||||||||||||||||||||||||||||||||
$0.01 | |||||||||||||||||||||||||||||||||
to buy) | |||||||||||||||||||||||||||||||||
per share | |||||||||||||||||||||||||||||||||
Explanation of Responses: |
1. On May 16, 2024 (the "Grant Date"), the reporting person was granted 18,028 restricted shares of common stock, par value $0.01 per share ("Common Stock"), of Powerfleet, Inc. (the "Company") under the Company's 2018 Incentive Plan, as amended (the "2018 Plan"), in consideration of his services as a director of the Company. Subject to the terms and conditions of a restricted stock award agreement and the 2018 Plan, this award will vest in full on the
first anniversary of the Grant Date, provided that the reporting person is serving as a director of the Company on such date.
- The reporting person, as the general partner of Vajra Fund I, L.P. ("Vajra Fund"), may be deemed to beneficially own the securities held by Vajra Fund. The reporting person disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.
- On the Grant Date, the reporting person was granted options to purchase 35,920 shares of Common Stock under the 2018 Plan, in consideration of his services as a director of the Company. These options vest in equal installments on the last day of each fiscal quarter over a period of 10 fiscal quarters following the Grant Date, provided that the reporting person is serving as a director of the Company on each such date.
Remarks:
/s/ David Wilson, as Attorney-in-Fact for | 06/03/2024 | |||
Michael Brodsky | ||||
** Signature of Reporting Person | Date |
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
- If the form is filed by more than one reporting person, see Instruction 4(b)(v).
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Powerfleet Inc. published this content on 04 June 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 June 2024 07:22:03 UTC.