Form 4: Arlo Technologies CEO Matthew McRae Reports Stock Transactions
SEC Form 4 Filing
Arlo Technologies CEO Matthew Blake McRae reports the vesting of performance stock units and subsequent tax withholding.
Summary
- On May 3, 2024, Matthew Blake McRae, CEO of Arlo Technologies, Inc., reported transactions involving Arlo's common stock.
- 13,270 Performance Stock Units (PSUs) vested, each representing a contingent right to receive one share of Arlo's common stock.
- These PSUs vest upon achieving both a time-based and a stock price performance-based vesting condition.
- 6,726 shares were withheld to satisfy Mr. McRae's tax obligations related to the vesting of the PSUs at a price of $12.96.
- Following these transactions, Mr. McRae directly owns 2,293,148 shares of Arlo Technologies common stock.
- The maximum number of shares remaining that may be issued pursuant to the PSUs is 411,359.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment.
Industry Context
This filing is a routine disclosure of insider transactions, which are common for executives receiving stock-based compensation. It provides transparency into the holdings and transactions of key company personnel.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it involves the vesting of previously granted equity compensation.
Key Dates
| Date | Description |
|---|---|
| 05/03/2023 | Date of Earliest Transaction |
| 05/03/2024 | Date of PSU vesting and tax withholding |
| 02/03/2026 | Expiration Date of Performance Stock Units |
| 05/06/2024 | Date of report filing |
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