Brian Busse - 10 May 2024 Form 4 Insider Report for Arlo Technologies, Inc. (ARLO)

Signature
/s/ Brian Busse
Issuer symbol
ARLO
Transactions as of
10 May 2024
Net transactions value
-$289,890
Form type
4
Filing time
13 May 2024, 17:02:32 UTC
Previous filing
10 Apr 2024
Next filing
30 Jul 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ARLO Common Stock Options Exercise +50,000 +8.3% 655,604 10 May 2024 Direct F1
transaction ARLO Common Stock Tax liability $289,890 -25,340 -3.9% $11.44 630,264 10 May 2024 Direct F2

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 -50,000 -100% $0.000000* 0 10 May 2024 Common Stock 50,000 Direct F1
transaction ARLO Performance Stock Units (PSUs) Award $0 +50,000 $0.000000 50,000 10 May 2024 Common Stock 50,000 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.