Arlo Grants 556,850 RSUs and PSUs to 25 New Hires
ARLO•Arlo granted 556,850 equity awards under its 2018 Plan as inducements for 25 new non-executive employees, comprising 464,638 RSUs vesting over four years and 92,212 PSUs. The PSUs may vest at 0–200% based on annual recurring revenue and gross margin targets, contingent on continued service.
1. Equity Inducement Awards
On May 5, Arlo’s Compensation and Human Capital Committee granted a total of 556,850 restricted stock units (RSUs) and performance-vesting RSUs (PSUs) to 25 new non-executive employees as inducements under NYSE Rule 303A.08.
2. RSU Vesting Schedule
The 464,638 RSUs awarded vest in four equal annual installments over four years, provided each employee remains in continuous service through each vesting date.
3. PSU Performance Conditions
The 92,212 PSUs are subject to vesting based on achievement of annual recurring revenue and gross margin milestones, with payouts ranging from 0% to 200% of the target share amount, contingent on both performance and continued employment.
