Arlo Technologies Inc
For the period ended Sep 29, 2024. Filed Nov 7, 2024.
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Sep 29, 2024 · Filed Nov 7, 2024
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Item 5. Other Information
Trading Arrangements
During the quarter ended September 29, 2024, our directors and officers (as defined in Rule 16a-1(f) under the Exchange Act)adopted orterminated the contracts, instructions or written plans for the purchase or sale of Arlo’s securities set forth in the table below:
| Type of Trading Arrangement | ||||||||
|---|---|---|---|---|---|---|---|---|
| Name and Position · Action · Action Date · Rule 10b5-1 (1) · Non-Rule 10b5-1 (2) · Total Shares of Common Stock to be Sold · Expiration Date | ||||||||
| Matthew McRae, Chief Executive Officer | Adoption | August 27, 2024 | (3) | X | up to | 777,680 | November 21, 2025 | |
| Matthew McRae, Chief Executive Officer | Termination | August 27, 2024 | (4) | X | up to | 525,594 | March 7, 2025 | |
| Kurtis Binder, Chief Financial Officer and Chief Operating Officer | Adoption | August 29, 2024 | (3) | X | up to | 497,801 | (5) | August 30, 2025 |
| Brian Busse, General Counsel | Adoption | August 27, 2024 | (3) | X | up to | 132,450 | November 21, 2025 | |
| Ralph Faison, Director | Adoption | August 26, 2024 | (3) | X | up to | 100,000 | November 21, 2025 | |
(1)Contract, instruction or written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act.
(2)“Non-Rule 10b5-1 trading arrangement” as defined in Item 408(c) of Regulation S-K under the Exchange Act.
(3)Adopted for personal tax planning purposes.
(4)Represents the termination of a written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) adopted on November 30, 2023.
(5)This plan is designed to sell a specified percentage of the net shares delivered after tax withholding on five separate equity awards. The actual number of shares to be sold will depend on state and federal tax rates applicable on the relevant vesting dates as well as the payout, if any, of shares to be granted in the first quarter of 2025 in settlement of Mr. Binder’s 2024 annual bonus which are assumed to be achieved at 100% of target and settled using a price per share calculated by a 30 day average as of August 29, 2024, which is the adoption date of this plan. For certain equity awards in the 10b5-1 Plan, Mr. Binder has designated target prices ranging from $15 to $25 for the sale of shares. If the Arlo stock is not trading at or above the target prices, the shares cannot be sold.
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