SEC Form 4 · accession 0001209191-19-001567
Arlo Technologies, Inc. · ARLO
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Matthew Blake McRae
Officer — CEO · Director
Period of report
Dec 31, 2018
Accepted (ET)
Jan 3, 2019 · 8:31 pm EST
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 StockF1,F2 | Dec 31, 2018 | A | 14,852 | — | A | 18,895 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Options (Right to Buy)F3,F4 | $10.09 | Dec 31, 2018 | A | 39,993 | A | — | Oct 19, 2027 | Common Stock | 39,993 | 39,993 | D |
Explanation of responses
- F1In connection with the spin-off of the Issuer from NETGEAR, Inc. ("NETGEAR"), on December 31, 2018, the reporting person received restricted stock awards from the Issuer in exchange for the outstanding NETGEAR restricted stock awards held by the reporting person immediately prior to the spin-off. The reporting person received an aggregate of 14,852 restricted stock awards of the Issuer for 7,500 outstanding restricted stock awards of NETGEAR.
- F2Includes 4,043 shares acquired in a pro rata distribution by NETGEAR by means of a special stock dividend of shares of the Issuer's common stock. On December 31, 2018, each NETGEAR shareholder received 1.980295 shares of the Issuer's common stock for every share of NETGEAR common stock held as of the record date of December 17, 2018, less any fractional share.
- F3In connection with the spin-off of the Issuer from NETGEAR, on December 31, 2018, the reporting person received options to purchase shares of the Issuer in exchange for outstanding options to purchase shares of NETGEAR held by the reporting person immediately prior to the spin-off. The reporting person received the option in exchange for an outstanding option to purchase 20,000 shares of NETGEAR common stock at an exercise price of $49.20 per share.
- F4The option vests as follows: 25% of the shares vested on the first anniversary of the grant date of the original NETGEAR option (October 19, 2017), and the remaining shares vest in 36 equal monthly installments thereafter.