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 (PSUs) and subsequent tax-related share withholding.
Summary
- On April 1, 2024, Matthew Blake McRae, CEO of Arlo Technologies, Inc., reported transactions involving the company's common stock and Performance Stock Units (PSUs).
- 53,078 PSUs vested, each representing a contingent right to receive one share of Arlo's common stock.
- The vesting was contingent upon both a time-based and a stock price performance-based vesting condition.
- Following the vesting, 53,078 shares of common stock were acquired.
- 26,904 shares were withheld to satisfy the reporting person's tax obligation at a price of $12.52 per share.
- After these transactions, McRae directly owns 2,221,224 shares of Arlo Technologies common stock.
- The maximum number of shares remaining that may be issued pursuant to the PSUs is 424,629.
Sentiment
Score: 5
Explanation: This is a neutral filing related to standard executive compensation practices. It doesn't inherently indicate positive or negative sentiment.
Future Outlook
The document does not contain any specific forward-looking statements or guidance.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency regarding the CEO's holdings and potential incentives.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the increase in the number of shares outstanding, but the effect is likely minimal.
Key Dates
| Date | Description |
|---|---|
| 04/01/2024 | Date of PSU vesting and stock transactions |
| 04/02/2024 | Date of signature for the Form 4 filing |
| 02/03/2026 | Expiration date of Performance Stock Units |
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