SAN
JOSE, Calif., July 29,
2024 /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 29, 2024, Arlo's
Compensation and Human Capital Committee granted restricted stock
units, or RSUs, to eighteen new non-executive employees covering an
aggregate of 257,540 shares of the Company's common stock as an
inducement for such employees to join the Company.
The RSU's granted to seventeen of the employees, covering an
aggregate of 157,540 shares, vest annually in four equal annual
installments. The remaining RSU grant, covering an aggregate of
100,000 shares, vests annually over five years, with 15% of the
shares vesting on the first anniversary of the vesting date, 25% of
the shares vesting on the second, third and fourth anniversaries of
the vesting date and the remaining 10% of the shares vesting on the
fifth anniversary of the vesting date. 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 an award-winning, industry leader that is transforming
the ways in which people can protect everything that matters to
them with advanced home, business, and personal security solutions.
Arlo's deep expertise in AI- and CV-powered analytics, cloud
services, user experience and product design, and innovative
wireless and RF connectivity enables the delivery of a seamless,
smart security experience for Arlo users that is easy to set up and
interact with every day. Arlo'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 connected
devices, software, and services. These include wire-free, smart
Wi-Fi and LTE-enabled security cameras, video doorbells,
floodlights, security system, and Arlo's subscription services:
Arlo Secure and Arlo Safe.
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 implementing
industry standards for data protection designed to keep users'
personal information private and in their control. Arlo does not
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.