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.