Arlo Technologies Announces Inducement Awards Under NYSE Rule 303A.08

SAN JOSE, Calif., April 25, 2023 /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 April 24, 2023, Arlo's Compensation and Human Capital Committee granted restricted stock units, or RSUs, to thirteen new non-executive employees covering an aggregate of 262,629 shares of the Company's common stock as an inducement for such employees to join the Company.

The RSU's granted to twelve of the employees, covering an aggregate of 190,201 shares, vest annually in four equal annual installments. The remaining RSU, covering an aggregate of 72,428 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 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.

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SOURCE Arlo Technologies, Inc.