Arlo Technologies Announces Inducement Awards Under NYSE Rule 303A.08

Rhea-AI Summary

Arlo Technologies, Inc. (NYSE: ARLO) announced equity grants to new employees under its 2018 Equity Incentive Plan on November 15, 2021. The Compensation Committee granted restricted stock units (RSUs) covering 1,002,111 shares, aiming to attract new talent. Of these, 935,000 shares will vest annually over five years, contingent on employee service. Arlo is committed to privacy and security, emphasizing control over personal data. The company continues to innovate in smart home security, delivering award-winning products that enhance user experience.

Positive

• Equity grants of 1,002,111 shares made to attract new talent.
• 935,000 RSUs vesting over five years, encouraging employee retention.

Negative

• None.

SAN JOSE, Calif., Nov. 16, 2021 /PRNewswire/ -- Arlo Technologies, Inc. (NYSE: ARLO), a leading smart home security brand, today announced that it had made equity grants to new employees under its 2018 Equity Incentive Plan (the "Plan") in accordance with NYSE Rule 303A.08.

On November 15, 2021, Arlo's Compensation Committee granted restricted stock units, or RSUs, to four new non-executive employees covering an aggregate of 1,002,111 shares of the Company's common stock as an inducement for such employees to join the Company.

The RSU's granted to three of the employees, covering an aggregate of 935,000 shares, vest annually over five years, with 15% of the shares vesting on the first anniversary of the applicable vesting date, 25% of the shares vesting on the second, third and fourth anniversaries of the applicable vesting date and the remaining 10% of the shares vesting on the fifth anniversary of the applicable vesting date.  The remaining RSU vests in four equal annual installments.  In all cases, the RSUs are contingent on each employee's continued service with the Company at the applicable vesting date.

About Arlo Technologies, Inc.

Arlo is the award-winning, industry leader that is transforming the way people experience the connected lifestyle. Arlo's deep expertise in product design, wireless connectivity, cloud infrastructure and cutting-edge AI capabilities focuses on delivering a seamless, smart home experience for Arlo users that is easy to setup and interact with every day. The company's cloud-based platform provides users with visibility, insight and a powerful means to help protect and connect in real-time with the people and things that matter most, from any location with a Wi-Fi or a cellular connection. To date, Arlo has launched several categories of award-winning smart connected devices, including wire-free smart Wi-Fi and LTE-enabled security cameras, audio and video doorbells, and floodlight.

With a mission to bring users peace of mind, Arlo is as passionate about protecting user privacy as it is about safeguarding homes and families. Arlo is committed to supporting industry standards for data protection designed to keep users' personal information private and in their control. Arlo doesn't monetize personal data, provides enhanced controls for user data, supports privacy legislation, keeps user data safely secure, and puts security at the forefront of company culture.

 

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SOURCE Arlo Technologies, Inc.

FAQ

What equity grants were announced by Arlo Technologies on November 15, 2021?

Arlo Technologies announced equity grants including restricted stock units (RSUs) covering 1,002,111 shares to new employees.

How do the RSUs granted by Arlo Technologies vest?

The RSUs vest annually over five years, with specific percentages vesting each year.

What is the purpose of the equity grants by Arlo Technologies?

The equity grants aim to attract and retain new employees under the 2018 Equity Incentive Plan.

What does Arlo Technologies emphasize regarding user data?

Arlo Technologies emphasizes the commitment to user privacy and does not monetize personal data.