Arlo Technologies (ARLO) counsel exercises 50,000 PSUs, sells 25,525 shares
Rhea-AI Filing Summary
Arlo Technologies general counsel Brian Busse reported a combination of equity vesting and share sales. On March 10, he exercised 50,000 Performance Stock Units, converting them into 50,000 shares of common stock at a conversion price of $0.00 per share, increasing his direct holdings. A related Form 4 entry shows 50,000 shares of common stock acquired, bringing his position to 608,889 shares immediately after the exercise.
On March 12, 25,525 shares of common stock were sold at a weighted average price of $13.7751 per share in open-market transactions. A footnote states these shares were sold to satisfy estimated tax withholding obligations upon settlement of the PSUs, indicating a tax-driven, rather than discretionary, sale. After these transactions, Busse directly holds 583,364 shares of Arlo common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 25,525 | $13.7751 | $352K |
| Exercise | Performance Stock Units (PSUs) | 50,000 | $0.00 | -- |
| Exercise | Common Stock | 50,000 | $0.00 | -- |
Footnotes (1)
- 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. Represents shares sold to satisfy estimated tax withholding obligations upon the settlement of the PSUs. The weighted average sale price for the transaction reported was $13.7751, and the range of prices were between $13.60 and $13.7759. 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.