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    Steve Towe

    Chief Executive Officer and Director at PowerFleet Inc
    Board
    Since January 2022
    Age
    52 years
    Tenure
    Joined AIOT in January 2022 as Chief Executive Officer and Director, a role in which significant leadership in the global technology and IoT sectors is demonstrated.

    Also at PowerFleet Inc

    DW
    David Wilson
    Chief Financial Officer and Corporate Secretary
    FF
    Frank Friesacher
    Leads the execution of Powerfleet's technology roadmap
    MP
    Mike Powell
    Chief Innovation Officer (CINO)

    About

    Steve Towe is 52 years old and brings over 20 years of experience in senior leadership roles within global software and technology companies.

    Throughout his career, he has held pivotal roles including President and Chief Operating Officer at Aptos, Inc., Chief Commercial Officer at Masternaut, and various executive positions at Cybit Ltd and Fleetstar Information Systems, showcasing broad expertise in driving technological innovation.

    At AIOT, he joined in January 2022 as Chief Executive Officer and Director, a position from which he provides strategic leadership and guides multiple wholly-owned subsidiaries, reflecting his proven track record in the industry.

    $AIOT Performance Under Steve Towe

    Fixed Compensation

    Data from  FY 2023
    Component Name Amount Payment Schedule Additional Details
    Salary$425,000 Annual Salary for 2023
    Retention Bonus$216,667 Second installment Part of a $650,000 retention bonus

    Performance Compensation

    Data from  FY 2023

    Stock Awards

    Metric Details
    Market-Based Stock OptionsVWAP Thresholds with immediate vesting upon reaching:
    • $10.50: 875,000 options
    • $14.00: 1,250,000 options
    • $21.00: 2,000,000 options | | Grant Details | Aggregate Grant Date Fair Value: $2,178,000 ; Grant Date Stock Price: $3.42 | | Restricted Stock Awards | 900 shares vesting in four equal installments over four years, contingent on continued employment |

    Non-Equity Incentive Plan Compensation

    Metric Details
    Bonus Amount$214,625 earned under the Global Bonus Plan (GBP) for 2023
    Performance GoalsAimed at achieving Revenue Growth, Profitability (Adjusted EBITDA), and Subscriber Renewal