Arlo Technologies Announces Inducement Awards Under NYSE Rule 303A.08
On April 25, 2022, Arlo Technologies (NYSE: ARLO) announced equity grants for five new employees under its 2018 Equity Incentive Plan. These grants included 104,221 restricted stock units (RSUs), vesting over four years contingent on continued employment. This move aims to attract talent as the company continues to innovate in smart home security. Arlo remains committed to user privacy and data protection while enhancing its product offerings.
- Inducement of talent through equity awards with 104,221 RSUs granted.
- RSUs vesting annually in four equal installments promote employee retention.
- None.
SAN JOSE, Calif., April 25, 2022 /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 April 25, 2022, Arlo's Compensation Committee granted restricted stock units, or RSUs, to five new non-executive employees covering an aggregate of 104,221 shares of the Company's common stock as an inducement for such employees to join the Company.
The RSUs granted to the five employees, covering an aggregate of 104,221 shares, vest annually 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.
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.
View original content to download multimedia:https://www.prnewswire.com/news-releases/arlo-technologies-announces-inducement-awards-under-nyse-rule-303a08-301532401.html
SOURCE Arlo Technologies, Inc.
FAQ
What equity grants did Arlo Technologies announce on April 25, 2022?
How do the RSUs granted by Arlo Technologies vest?
What is the purpose of the equity grants announced by Arlo Technologies?
What is the significance of NYSE Rule 303A.08 in Arlo's announcement?
