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Companies Powerfleet

Powerfleet (AIOT): executive pay, fiscal 2026

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CEO total pay$2,134,829CEO Steve Towe · source
Say-on-pay support97.91%Latest vote · source
CEO vs. named peers19th pct.Of 17 peer CEOs
CEO pay ratio81:1To the median employee · source

CEO pay, last three years

  • $322,917FY2024
  • $12,881,137FY2025
  • $2,134,829FY2026

CEO total pay was $2,134,829 in fiscal 2026, down from $12,881,137 in fiscal 2025.

FY2026: salary $555,778 · bonus $0 · stock awards $1,469,007 · option awards $0

Executives and directors

Frequently asked questions

Who was the highest-paid executive at Powerfleet in fiscal 2026?
As disclosed, Steve Towe (Chief Executive Officer) was the highest-paid executive at Powerfleet in fiscal 2026, with total compensation of $2,134,829.
How does Powerfleet's chief executive pay compare to its disclosed peer group?
As disclosed, Steve Towe's total compensation ranked at the 19th percentile of Powerfleet's disclosed peer group.
What is Powerfleet's CEO-to-median employee pay ratio?
As disclosed, Powerfleet's CEO-to-median employee pay ratio was 81:1.
How did shareholders vote on Powerfleet's executive compensation?
As disclosed, 97.91% of shareholders supported Powerfleet's executive compensation in the latest say-on-pay vote.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

Full detail

Every table from the filing. Open any section.

Summary compensation table
Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Steve Towe$555,778$0$1,469,007$0$110,044$0$0$2,134,829
Chief Executive Officer
David Wilson435,0000734,501064,598001,234,099
Chief Financial Officer and Corporate Secretary
Melissa Ingram363,5930646,362053,994001,063,949
Chief Corporate Development Officer
Michael Powell385,000144,375293,8010000823,176
Chief Innovation Officer

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2026 totalFY2025 totalFY2024 totalΔ FY2025→2026
Steve Towe$2,134,829$12,881,137$322,917↓ −10,746,308
David Wilson1,234,0992,495,94487,500↓ −1,261,845
Melissa Ingram1,063,9492,259,109—↓ −1,195,160
Michael Powell823,176———

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

Incentive-plan design — the Compensation Discussion & Analysis

Powerfleet's compensation philosophy emphasizes pay-for-performance, with the majority of NEO target total direct compensation 'at-risk' and dependent on achievement of pre-established financial performance goals and total shareholder return. The program is designed to attract, retain and motivate executives by providing competitive compensation that aligns executive and stockholder interests, rewarding achievement of short- and long-term objectives.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantFrederic W. Cook & Co., Inc.
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingfalse
Equity grants and outstanding awards

Grants of plan-based awards — fiscal year 2026

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Melissa IngramRSU2026-02-25——85,160—$315,092
Michael PowellRSU2026-02-25——38,709—143,223
Steve ToweRSU2026-02-25——193,545—716,117
David WilsonRSU2026-02-25——96,772—358,056
Melissa IngramPSU2026-02-2585,160170,319—283,865331,270
Steve TowePSU2026-02-25193,545387,090—645,150752,890
David WilsonPSU2026-02-2596,773193,545—322,575376,445
Michael PowellPSU2026-02-2538,70977,418—129,030150,578

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Melissa Ingram$315,092$331,270$051.3%
Michael Powell143,223150,578051.3%
Steve Towe716,117752,890051.3%
David Wilson358,056376,445051.3%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

Outstanding equity awards at fiscal year-end 2026

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Michael PowellRSU17,581—$54,149
Melissa IngramOption35,0003.13—
Michael PowellRSU38,709—119,224
Melissa IngramRSU51,139—157,508
Michael PowellPSU52,743—162,448
David WilsonRSU58,113—178,988
Michael PowellPSU77,418—238,447
Melissa IngramRSU85,160—262,293
David WilsonRSU96,772—298,058
Steve ToweRSU116,225—357,973
Melissa IngramOption130,0002.98—
Melissa IngramPSU153,417—472,524
Melissa IngramPSU170,319—524,583
David WilsonPSU174,337—536,958
Steve ToweRSU193,545—596,119
David WilsonPSU193,545—596,119
Steve ToweRSU208,333—641,666
David WilsonOption275,0003—
Steve TowePSU312,500—962,500
Steve TowePSU348,675—1,073,919
Steve TowePSU387,090—1,192,237
Steve ToweOption875,00010.5—
Steve ToweOption1,250,00014—
Steve ToweOption2,000,00021—
Director compensation

No director compensation table is on file for fiscal year 2026.

Board fee structure and ownership guideline

Annual cash retainer$87,500
Annual equity retainer$87,500
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)18,000 / 12,000 / 10,000
Stock ownership guideline5x annual cash retainer
Peer group, and who names Powerfleet as a peer

Companies that benchmark against AIOT

8 companies name AIOT as a compensation peer

Each company listed discloses AIOT in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named AIOT in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

Disclosed peer group — fiscal year 2026

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

Peer reciprocity

Of the companies Powerfleet names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer’s own current proxy has been read — each mark is cited in the register to that peer’s filing. A dash means the peer’s current proxy was read and names no reciprocal group including Powerfleet.

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company’s own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Porch Group, Inc.2025Matthew Ehrlichman$643,269$12,599,322$0$1,170,750$14,545,617
2MeridianLink, Inc.2024Nicolaas Vlok600,00012,296,4530471,29113,371,744
3Mitek Systems Inc.2025Edward H. West500,0007,902,3610761,5009,414,057
4Iridium Communications Inc.2025Matthew Desch1,047,5097,612,0820330,6209,013,522
5BlackBerry Ltd2026John Giamatteo700,0006,699,9990887,7238,297,745
6SEMrush Holdings, Inc.2024Oleg Shchegolev07,999,992008,000,762
7N-able, Inc.2025John Pagliuca500,0006,813,6060420,5007,748,106
8Arlo Technologies, Inc.2025Matthew McRae790,0005,590,0000963,8007,358,402
9A10 Networks, Inc.2025Dhrupad Trivedi697,9175,211,97301,056,8006,974,141
10Digi International Inc.2025Ronald Konezny583,8463,454,3240949,1795,002,124
11Rimini Street, Inc.2025Seth Ravin500,0001,919,996479,156423,2063,761,717
12OneSpan Inc.2025Victor Limongelli600,0002,500,0210150,0003,627,046
13E2open Parent Holdings, Inc.2025Andrew Appel650,00000356,3632,520,013
14Powerfleet2026Steve Towe555,7781,469,0070110,0442,134,829
15Lantronix Inc.2026Saleel Awsare500,0001,208,4880400,0002,115,193
16Consensus Cloud Solutions, Inc.2025Scott Turicchi750,000001,012,1901,800,548
17Globalstar, Inc.2025Paul Jacobs500,000200,000001,012,452
—Kinaxis Inc.——————not in coverage universe

Each peer’s compensation is from its most recently filed proxy; fiscal years differ by company. Each peer’s figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Powerfleetnot disclosedPSU 66.7 · RSU 33.3not disclosedFrederic W. Cook & Co., Inc.
A10 Networks, Inc.not disclosedPSU 50 · RSU 50NoRadford-AON
Arlo Technologies, Inc.122%PSU 100NoPay Governance
BlackBerry Ltd126.82%not disclosedNoMercer
Consensus Cloud Solutions, Inc.122.69%not disclosedNoFrederic W. Cook & Co., Inc.
Digi International Inc.147%RSU 50 · PSU 50Yes — TSR vs Russell 2000 IndexRadford Consulting (AON)
E2open Parent Holdings, Inc.43.86%RSU 50 · PSU 50NoFW Cook
Globalstar, Inc.not disclosednot disclosedNoIndependent compensation consultant (name not disclosed)
Iridium Communications Inc.not disclosedRSU 50 · PRSU 50not disclosedClearBridge
Kinaxis Inc.not disclosednot disclosednot disclosednot disclosed
Lantronix Inc.80%PSU 50 · RSU 50Yes — Relative TSRCompensation Strategies, Inc.
MeridianLink, Inc.92.4%not disclosedNoCompensia and Korn Ferry
Mitek Systems Inc.152.3%PSU 80 · RSU 20NoFrederic W. Cook & Company, Inc.
N-able, Inc.84.1%not disclosedNoPearl Meyer
OneSpan Inc.25%PSU 75 · RSU 25NoFrederic W. Cook & Co, Inc.
Porch Group, Inc.182%not disclosedYes — Relative Total Shareholder Return (rTSR)WTW
Rimini Street, Inc.not disclosedPSU 40 · RSU 40 · Options 20NoWillis Towers Watson
SEMrush Holdings, Inc.not disclosedRSU 80 · PSU 20Yes — Relative PSU TSR Percentile RankCompensia, Inc.

Read from each company’s Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company’s filing does not state the item.

Say-on-pay history and pay ratio
Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-09-1678,166,4081,665,813164,13397.91%Passed
20252025-09-1655,080,71619,916,9786,926,10973.44%Passed
20242024-09-1754,702,10015,860,6542,913,50177.52%Passed
20242024-09-1754,702,10015,860,6542,913,50177.52%Passed
20232023-07-2019,504,4466,433,8151,189,94575.2%Passed
20222022-07-1921,527,5392,588,646142,22889.27%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year’s compensation.

Say-on-pay — history, company’s computation

Meeting yearMeeting dateApproval — company’s computation
20262026-09-1697.91%a
20252025-09-1673.44%b
20242024-09-1777.52%c

a. Voting standard not stated in the filing.

b. Approved under the standard stated in the filing — “Abstentions and broker non-votes will have no effect on the outcome on these matters.”.

c. Approved under the standard stated in the filing — “Abstentions and broker non-votes, if any, will have no effect on the outcome of this proposal.”.

Approval percentages are the company’s own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

CEO pay ratio

Ratio (CEO : median employee)81 : 1
CEO total compensation$2,134,829
Median employee compensation$26,225
Insider trades since the proxy

Every insider equity transaction reported on Form 4 after the 2026 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Paul S. LalljieSee remarks2026-08-11A225,000$0$0CommonForm 4 ↗
Paul S. LalljieSee remarks2026-08-11A225,00000CommonForm 4 ↗
Michael J. CaseyDirector2026-08-17A3,05000CommonForm 4 ↗
Michael J. CaseyDirector2026-09-17A29,16700CommonForm 4 ↗
Ian JacobsDirector2026-09-17A29,16700CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

Sources (54 citations)

Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.

  • Section 01, Steve Towe. DEF 14A, filed 2026-07-29. Section “Summary Compensation Table” · page 25. As printed: 2,134,829. View filing ↗
  • Section 01, David Wilson. DEF 14A, filed 2026-07-29. Section “Summary Compensation Table”. As printed: 1,234,099. View filing ↗
  • Section 01, Melissa Ingram. DEF 14A, filed 2026-07-29. Section “Summary Compensation Table”. As printed: 1,063,949. View filing ↗
  • Section 01, Michael Powell. DEF 14A, filed 2026-07-29. Section “Summary Compensation Table”. As printed: 823,176. View filing ↗
  • Section 03, Melissa Ingram RSU. DEF 14A, filed 2026-07-29. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Michael Powell RSU. DEF 14A, filed 2026-07-29. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Steve Towe RSU. DEF 14A, filed 2026-07-29. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, David Wilson RSU. DEF 14A, filed 2026-07-29. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Melissa Ingram PSU. DEF 14A, filed 2026-07-29. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Steve Towe PSU. DEF 14A, filed 2026-07-29. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, David Wilson PSU. DEF 14A, filed 2026-07-29. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Michael Powell PSU. DEF 14A, filed 2026-07-29. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 07, pay ratio. DEF 14A, filed 2026-07-29. Section “CEO Pay Ratio”. As printed: 81 : 1. View filing ↗
  • Section 02, Paul S. Lalljie 2026-08-11. Form 4, filed 2026-08-11. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Paul S. Lalljie 2026-08-11. Form 4, filed 2026-08-11. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Michael J. Casey 2026-08-17. Form 4, filed 2026-08-17. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Michael J. Casey 2026-09-17. Form 4, filed 2026-09-18. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Ian Jacobs 2026-09-17. Form 4, filed 2026-09-18. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 06, 2026 vote. Form 8-K, filed 2026-09-16. Item 5.07 · say-on-pay result. As reported: 97.91% (votes for as printed: 78,166,408). View filing ↗
  • Section 06, 2025 vote. Form 8-K, filed 2025-09-16. Item 5.07 · say-on-pay result. As reported: 73.44% (votes for as printed: 55,080,716). View filing ↗
  • Section 06, 2024 vote. Form 8-K, filed 2024-09-17. Item 5.07 · say-on-pay result. As reported: 77.52% (votes for as printed: 54,702,100). View filing ↗
  • Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
  • Section 03b vehicle mix (computed). Computed. RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
  • Porch Group, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-17. CEO total compensation as printed in Porch Group, Inc.'s own proxy. As printed: 14,545,617. View filing ↗
  • MeridianLink, Inc., Section 10b CEO total. DEF 14A, filed 2025-04-23. CEO total compensation as printed in MeridianLink, Inc.'s own proxy. As printed: 13,371,744. View filing ↗
  • Mitek Systems Inc., Section 10b CEO total. DEF 14A, filed 2026-01-26. CEO total compensation as printed in Mitek Systems Inc.'s own proxy. As printed: 9,414,057. View filing ↗
  • Iridium Communications Inc., Section 10b CEO total. DEF 14A, filed 2026-04-02. CEO total compensation as printed in Iridium Communications Inc.'s own proxy. As printed: 9,013,522. View filing ↗
  • BlackBerry Ltd, Section 10b CEO total. DEF 14A, filed 2026-05-11. CEO total compensation as printed in BlackBerry Ltd's own proxy. As printed: 8,297,745. View filing ↗
  • SEMrush Holdings, Inc., Section 10b CEO total. DEF 14A, filed 2025-04-17. CEO total compensation as printed in SEMrush Holdings, Inc.'s own proxy. As printed: 8,000,762. View filing ↗
  • N-able, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-14. CEO total compensation as printed in N-able, Inc.'s own proxy. As printed: 7,748,106. View filing ↗
  • Arlo Technologies, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-24. CEO total compensation as printed in Arlo Technologies, Inc.'s own proxy. As printed: 7,358,402. View filing ↗
  • A10 Networks, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-10. CEO total compensation as printed in A10 Networks, Inc.'s own proxy. As printed: 6,974,141. View filing ↗
  • Digi International Inc., Section 10b CEO total. DEF 14A, filed 2025-12-17. CEO total compensation as printed in Digi International Inc.'s own proxy. As printed: 5,002,124. View filing ↗
  • Rimini Street, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-30. CEO total compensation as printed in Rimini Street, Inc.'s own proxy. As printed: 3,761,717. View filing ↗
  • OneSpan Inc., Section 10b CEO total. DEF 14A, filed 2026-04-23. CEO total compensation as printed in OneSpan Inc.'s own proxy. As printed: 3,627,046. View filing ↗
  • E2open Parent Holdings, Inc., Section 10b CEO total. DEF 14A, filed 2025-06-18. CEO total compensation as printed in E2open Parent Holdings, Inc.'s own proxy. As printed: 2,520,013. View filing ↗
  • Powerfleet (subject), Section 10b CEO total. DEF 14A, filed 2026-07-29. CEO total compensation as printed in Powerfleet's own proxy. As printed: 2,134,829. View filing ↗
  • Lantronix Inc., Section 10b CEO total. DEF 14A, filed 2026-09-22. CEO total compensation as printed in Lantronix Inc.'s own proxy. As printed: 2,115,193. View filing ↗
  • Consensus Cloud Solutions, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-24. CEO total compensation as printed in Consensus Cloud Solutions, Inc.'s own proxy. As printed: 1,800,548. View filing ↗
  • Globalstar, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-02. CEO total compensation as printed in Globalstar, Inc.'s own proxy. As printed: 1,012,452. View filing ↗
  • Section 10a, Mitek Systems Inc. reciprocity. DEF 14A. Mitek Systems Inc.'s most recent proxy was read; its disclosed peer group does not include Powerfleet. View filing ↗
  • Section 10a, A10 Networks, Inc. reciprocity. DEF 14A. A10 Networks, Inc.'s most recent proxy was read; its disclosed peer group does not include Powerfleet. View filing ↗
  • Section 10a, Digi International Inc. reciprocity. DEF 14A. Digi International Inc.'s most recent proxy was read; its disclosed peer group does not include Powerfleet. View filing ↗
  • Section 10a, OneSpan Inc. reciprocity. DEF 14A. OneSpan Inc. names Powerfleet in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Porch Group, Inc. reciprocity. DEF 14A. Porch Group, Inc.'s most recent proxy was read; its disclosed peer group does not include Powerfleet. View filing ↗
  • Section 10a, SEMrush Holdings, Inc. reciprocity. DEF 14A. SEMrush Holdings, Inc.'s most recent proxy was read; its disclosed peer group does not include Powerfleet. View filing ↗
  • Section 10a, Rimini Street, Inc. reciprocity. DEF 14A. Rimini Street, Inc.'s most recent proxy was read; its disclosed peer group does not include Powerfleet. View filing ↗
  • Section 10a, Lantronix Inc. reciprocity. DEF 14A. Lantronix Inc. names Powerfleet in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, N-able, Inc. reciprocity. DEF 14A. N-able, Inc.'s most recent proxy was read; its disclosed peer group does not include Powerfleet. View filing ↗
  • Section 10a, Iridium Communications Inc. reciprocity. DEF 14A. Iridium Communications Inc.'s most recent proxy was read; its disclosed peer group does not include Powerfleet. View filing ↗
  • Section 10a, BlackBerry Ltd reciprocity. DEF 14A. BlackBerry Ltd's most recent proxy was read; its disclosed peer group does not include Powerfleet. View filing ↗
  • Section 10a, Consensus Cloud Solutions, Inc. reciprocity. DEF 14A. Consensus Cloud Solutions, Inc. names Powerfleet in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Arlo Technologies, Inc. reciprocity. DEF 14A. Arlo Technologies, Inc.'s most recent proxy was read; its disclosed peer group does not include Powerfleet. View filing ↗
  • Section 10a, E2open Parent Holdings, Inc. reciprocity. DEF 14A. E2open Parent Holdings, Inc.'s most recent proxy was read; its disclosed peer group does not include Powerfleet. View filing ↗
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