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

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On July 25, 2022, Arlo Technologies (NYSE: ARLO) granted restricted stock units (RSUs) to 15 new non-executive employees as part of its 2018 Equity Incentive Plan. The total of 329,881 shares will vest over four years, dependent on continued service. This equity grant aligns with NYSE Rule 303A.08, aimed at attracting talent and enhancing employee engagement. Arlo continues to innovate in the smart home security sector, emphasizing user privacy and data protection.

Positive
  • Equity grants aimed at enhancing talent retention and attraction.
  • Total of 329,881 shares granted to new employees, indicating company growth.
  • Alignment with NYSE regulations adds credibility.
Negative
  • No immediate financial metrics provided regarding the impact of the RSUs.
  • Potential dilution of shares due to equity grants if unbalanced by performance.

SAN JOSE, Calif., July 26, 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 July 25, 2022, Arlo's Compensation Committee granted restricted stock units, or RSUs, to fifteen new non-executive employees covering an aggregate of 329,881 shares of the Company's common stock as an inducement for such employees to join the Company.

The RSU's granted to the fifteen employees, covering an aggregate of 329,881 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.

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.

Media Relations:
press@arlo.com
949-438-1109

Investors:
Arlo Investor Relations
Erik Bylin
investors@arlo.com

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/arlo-technologies-announces-inducement-awards-under-nyse-rule-303a08-301593462.html

SOURCE Arlo Technologies, Inc.

FAQ

What was announced by Arlo Technologies on July 26, 2022?

Arlo Technologies announced equity grants of RSUs to new employees as part of its 2018 Equity Incentive Plan.

How many shares were granted to new employees by Arlo?

A total of 329,881 shares were granted to fifteen new non-executive employees.

What is the vesting schedule for the RSUs granted by Arlo?

The RSUs vest annually in four equal installments.

Why did Arlo grant RSUs to new employees?

The RSUs were granted as an inducement to attract and retain new talent.

What regulations did Arlo comply with regarding the equity grants?

Arlo's equity grants comply with NYSE Rule 303A.08.

Arlo Technologies, Inc.

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