MATTHEW BLAKE MCRAE - 12 May 2023 Form 4 Insider Report for Arlo Technologies, Inc. (ARLO)

Role
CEO, Director
Signature
/s/ Brian M. Busse, Attorney-in-Fact
Issuer symbol
ARLO
Transactions as of
12 May 2023
Net transactions value
-$4,447,326
Form type
4
Filing time
16 May 2023, 18:27:22 UTC
Previous filing
06 May 2024
Next filing
12 Jul 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ARLO Common Stock Options Exercise +1,000,000 +41% 3,437,939 12 May 2023 Direct F1
transaction ARLO Common Stock Tax liability $4,447,326 -495,800 -14% $8.97 2,948,178 12 May 2023 Direct F2, F3

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 -1,000,000 -100% $0.000000* 0 12 May 2023 Common Stock 1,000,000 Direct F1
transaction ARLO Performance Stock Units (PSUs) Award $0 +500,000 $0.000000 500,000 12 May 2023 Common Stock 500,000 Direct F1
* 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 PSUs vest upon the achievement of certain milestones relating to the number of the Issuer's cumulative paid subscribers.
F2 Shares withheld to satisfy the Reporting Person's tax obligation in connection with the vesting of the PSU.
F3 Includes 6,039 shares acquired under the Issuer's Employee Stock Purchase Plan on May 15, 2023.