PowerFleet appoints IoT veteran Steve Towe as CEO; Chris Wolfe retires after 5 years

Powerfleet, Inc.

Steve Towe appointed CEO and director effective Jan 5, 2022; Chris Wolfe retired as CEO and director Jan 4, 2022.
Towe previously President and COO at Aptos; background includes Masternaut and Cybit in IoT/telematics.
Compensation: $425k base salary, bonus up to 100% of base, $650k retention bonus in three equal annual installments.
Equity inducement: 200k RSUs, 500k time-based options (4yr vest), and 4.125M performance-based options with $10.50/$14.00/$21.00 strike prices vesting on 60-day VWAP milestones.

item 1.01 item 5.02 item 8.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Chris Wolfe

Chief Executive Officer and director

AIOT · Powerfleet, Inc.

Effective: 2022-01-04
Successor: Steve Towe
Filed: January 5, 2022, 6:59 PM ET

Chris Wolfe, who retired from his position as Chief Executive Officer and as a director of the Company effective January 4, 2022.

Appointed

Steve Towe

Chief Executive Officer

AIOT · Powerfleet, Inc.

Effective: 2022-01-05
Filed: January 5, 2022, 6:59 PM ET

Steve Towe has been appointed the Chief Executive Officer of the Company effective January 5, 2022.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Chris Wolfe retired as Chief Executive Officer and director at Powerfleet, Inc..

Action: retired
Role: Chief Executive Officer and director

Exact text from the filing

Chris Wolfe, who retired from his position as Chief Executive Officer and as a director of the Company effective January 4, 2022.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Steve Towe was appointed as Chief Executive Officer at Powerfleet, Inc..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

Steve Towe has been appointed the Chief Executive Officer of the Company effective January 5, 2022.

View on SEC.gov

Powerfleet, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-22-000439

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