MATTHEW BLAKE MCRAE - 04 Mar 2024 Form 4 Insider Report for Arlo Technologies, Inc. (ARLO)

Role
CEO, Director
Signature
/s/ Brian Busse, Attorney-in-Fact
Issuer symbol
ARLO
Transactions as of
04 Mar 2024
Net transactions value
-$3,598,492
Form type
4
Filing time
06 Mar 2024, 20:07:23 UTC
Previous filing
05 Mar 2024
Next filing
02 Apr 2024
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 +145,833 +6.1% 2,521,073 04 Mar 2024 Direct F1
transaction ARLO Common Stock Tax liability $842,563 -73,909 -2.9% $11.40 2,447,164 04 Mar 2024 Direct F2
transaction ARLO Common Stock Sale $1,447,796 -132,214 -5.4% $10.95 2,314,950 05 Mar 2024 Direct F3, F4
transaction ARLO Common Stock Sale $1,308,133 -119,900 -5.2% $10.91 2,195,050 06 Mar 2024 Direct F3, 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) Award $0 +866,471 $0.000000 866,471 01 Feb 2024 Common Stock 866,471 Direct F1
transaction ARLO Performance Stock Units (PSUs) Options Exercise $0 -145,833 -33% $0.000000 291,667 04 Mar 2024 Common Stock 145,833 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

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 The sales reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 30, 2023.
F4 The weighted average sale price for the transaction reported was $10.9504, and the range of prices were between $10.81 and $11.16. Upon request by the SEC staff, the Issuer, or any security holder of the Issuer, full information regarding the number of shares sold at each separate price will be provided.
F5 The weighted average sale price for the transaction reported was $10.9102, and the range of prices were between $10.76 and $11.10. Upon request by the SEC staff, the Issuer, or any security holder of the Issuer, full information regarding the number of shares sold at each separate price will be provided.