SEC Form 4 · accession 0000899243-18-022014
Arlo Technologies, Inc. · ARLO
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Christine Marie Gorjanc
Officer — Chief Financial Officer
Period of report
Aug 7, 2018
Accepted (ET)
Aug 10, 2018 · 2:00 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001736946
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock, par value $0.001 per shareF2 | Aug 7, 2018 | P | 5,000 | $16.00 | A | 5,000 | I | Children |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock OptionF3 | $16.00 | holding | — | — | — | — | Aug 2, 2028 | Common Stock, par value $0.001 per share | 468,750 | 468,750 | D |
Explanation of responses
- F1Represents shares of Common Stock purchased through a reserved share program in connection with the initial public offering of the Common Stock, which closed on August 7, 2018.
- F2Reporting Person disclaims beneficial ownership in shares owned by children who share Reporting Person's household. This report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities for the purpose of Section 16 or for any other purpose.
- F3In general: (a) 25% of the options will vest in equal monthly installments during the 24-month period that begins on August 2, 2020, (b) 25% of the options will vest over a four-year period based on satisfaction of a cumulative registered users milestone, (c) 25% of the options will vest over a four year period based on satisfaction of a paid recurring revenue milestone, (d) 12.5% of the options will vest at the end of 2018 based on the extent to which revenue and gross profit milestones for the second half of fiscal 2018 are achieved, and (e) 12.5% of the options will vest at the end of 2019 based on the extent to which revenue and gross profit milestones for fiscal 2019 are achieved, subject, in each case, to applicable service requirements. The options also include accelerated vesting provisions in the case of certain terminations of employment.