CARLSBAD, Calif., Oct. 3, 2022
/PRNewswire/ -- Arlo Technologies, Inc. (NYSE: ARLO), a leading
smart home security brand, today announced that it has granted
equity awards to Kurt Binder, Arlo's
new Chief Financial Officer under its 2018 Equity Incentive Plan in
accordance with NYSE Rule 303A.08.
On September 30, 2022, Arlo's
Compensation Committee granted restricted stock units ("RSUs") and
performance-vesting RSUs ("PSUs") to Mr. Binder covering an
aggregate of 1,500,000 shares of the Company's common stock as an
inducement material for Mr. Binder to join the Company.
The RSUs granted to Mr. Binder, covering an aggregate of 750,000
shares, vest annually in five equal annual installments. The
PSUs granted to Mr. Binder, covering an aggregate of 750,000
shares, are eligible to vest in three equal installments based on
the extent to which Arlo achieves 3, 4 and/or 5 million cumulative
paid subscribers. Upon achievement of the requisite number of
cumulative paid subscribers, the corresponding PSUs will be fully
vested. In all cases, the RSUs and PSUs are contingent on Mr.
Binder'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
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SOURCE Arlo Technologies, Inc.