UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
CURRENT REPORT
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| Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On October 14, 2022, Elchanan (Nani) Maoz was elected to the Board of Directors (the “Board”) of PowerFleet, Inc. (the “Company”). The Board has not elected Mr. Maoz to any committee of the Board at this time.
As a member of the Board, Mr. Maoz is eligible to receive non-employee director compensation in accordance with the Company’s existing non-employee director compensation program, as described in the Company’s most recent Proxy Statement for the 2022 Annual Meeting of Stockholders filed with the Securities and Exchange Commission (“SEC”) on June 9, 2022.
Additionally, in connection with his election to the Board, Mr. Maoz will enter into an indemnification agreement with the Company, substantially similar to the form of indemnification agreement that the Company has entered into with each of its other directors and executive officers, which was filed as Exhibit 10.5 to the Company’s Registration Statement on Form S-4 filed with the SEC on May 24, 2019.
Mr. Maoz has not participated in any transactions with the Company, nor are there currently any proposed transactions, requiring disclosure pursuant to Item 404(a) of Regulation S-K promulgated under the Securities Exchange Act of 1934, as amended. There is also no arrangement or understanding between Mr. Maoz and the Company pursuant to which he was elected to the Board.
| Item 8.01. | Other Events. |
On October 18, 2022, the Company issued a press release announcing the election of Mr. Maoz to the Board. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.
| Item 9.01. | Financial Statements and Exhibits. |
| (d) | Exhibits. |
| Exhibit No. | Description | |
| 99.1 | Press release, dated October 18, 2022. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| POWERFLEET, INC. | ||
| By: | /s/ Steve Towe | |
| Name: | Steve Towe | |
| Title: | Chief Executive Officer | |
Date: October 18, 2022