---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-22-000439"
form_type: "8-K"
ticker: "AIOT"
cik: "0001774170"
company_name: "Powerfleet, Inc."
filed_at: "2022-01-05T23:59:59+00:00"
generated_at: "2026-06-27T20:40:29.667486+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001493152-22-000439
- form_type: 8-K
- ticker: AIOT
- cik: 0001774170
- company_name: Powerfleet, Inc.
- filed_at: 2022-01-05T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1774170/000149315222000439/0001493152-22-000439-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1774170/000149315222000439/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-22-000439
- JSON: https://secwatch.observer/filing/0001493152-22-000439.json
- Plain text: https://secwatch.observer/filing/0001493152-22-000439.txt

## Key facts
- Executive change
  Chris Wolfe retired as Chief Executive Officer and director at Powerfleet, Inc..
  - Action: retired
  - Role: Chief Executive Officer and director
  source text: Chris Wolfe, who retired from his position as Chief Executive Officer and as a director of the Company effective January 4, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1774170/000149315222000439/0001493152-22-000439-index.htm
- Executive change
  Steve Towe was appointed as Chief Executive Officer at Powerfleet, Inc..
  - Action: appointed
  - Role: Chief Executive Officer
  source text: Steve Towe has been appointed the Chief Executive Officer of the Company effective January 5, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1774170/000149315222000439/0001493152-22-000439-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.