Matthew Blake Mcrae - Apr 28, 2023 Form 4 Insider Report for Arlo Technologies, Inc. (ARLO)

Role
CEO, Director
Signature
/s/ Brian M. Busse, Attorney-in-Fact
Stock symbol
ARLO
Transactions as of
Apr 28, 2023
Transactions value $
-$2,716,038
Form type
4
Date filed
5/2/2023, 05:25 PM
Previous filing
Mar 8, 2023
Next filing
May 6, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ARLO Common Stock Options Exercise +18.9K +0.82% 2.32M Apr 28, 2023 Direct F1
transaction ARLO Common Stock Tax liability -$60.5K -9.39K -0.41% $6.44 2.31M Apr 28, 2023 Direct F2
transaction ARLO Common Stock Tax liability -$346K -53.8K -2.33% $6.44 2.25M Apr 30, 2023 Direct F3
transaction ARLO Common Stock Tax liability -$577K -89.6K -3.98% $6.44 2.16M Apr 30, 2023 Direct F3
transaction ARLO Common Stock Award $0 +542K +25.06% $0.00 2.71M May 1, 2023 Direct F4
transaction ARLO Common Stock Tax liability -$1.73M -269K -9.93% $6.44 2.44M May 1, 2023 Direct F2, F5

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction ARLO Performance Stock Units (PSUs) Options Exercise $0 -18.9K -2.94% $0.00 625K Apr 28, 2023 Common Stock 18.9K Direct F1, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each performance stock unit ("PSU") represents a contingent right to receive one share of the Issuer's common stock. The performance rights vest upon the Issuer's common stock achieving both a time-based vesting condition and a stock price performance-based vesting condition, both of which conditions must be satisfied before any PSU vests.
F2 Shares withheld to satisfy the Reporting Person's tax obligation in connection with the vesting of the PSU.
F3 Shares withheld to satisfy the Reporting Person's tax obligation in connection with the vesting of restricted stock units ("RSUs").
F4 On April 30, 2020, the Reporting Person was granted a PSU based upon based upon the achievement of certain financial milestones during certain established performance periods over a period of three years, which was voluntarily reported on a Form 4 filed May 5, 2020. On May 1, 2023, the Board approved the achievement of the performance criteria, resulting in the grant of an RSU.
F5 This price reflects the fair market value at the end of the performance period which is the date used to calculate the Reporting Person's tax withholding.
F6 Represents the maximum number of shares remaining that may be issued pursuant to the PSUs.