SEC Form 4 · accession 0001104659-18-073165

AEROHIVE NETWORKS, INC · HIVE

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Christopher J Schaepe

Director

Period of report

Dec 12, 2018

Accepted (ET)

Dec 14, 2018 · 7:42 pm EST

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0001372414

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
Common Stock^F1,F2,F3	Dec 12, 2018	J	628,277	—	D	0	I	By Lightspeed Venture Partners VII, L.P.
Common Stock^F1,F2,F4	Dec 12, 2018	J	130,678	—	A	130,678	I	By Lightspeed General Partner VII, L.P.
Common Stock^F5,F2,F4	Dec 12, 2018	J	130,678	—	D	0	I	By Lightspeed General Partner VII, L.P.
Common Stock^F5,F6	Dec 12, 2018	J	19,145	—	A	224,802	I	By The Schaepe-Chiu Living Trust dated November 5, 1997
Common Stock^F7,F8	Dec 13, 2018	S	5,094	$3.4675	D	5,098	I	By Lightspeed Venture Partners VIII, L.P.
Common Stock^F9,F8	Dec 14, 2018	S	5,098	$3.4463	D	0	I	By Lightspeed Venture Partners VIII, L.P.
Common Stock^F10	holding	—	—		—	124,195	D

Table II — derivative securities

No Table II lines on this filing.

Explanation of responses

F1Represents in-kind distribution by Lightspeed VII without consideration to its partners (including LGP VII, the general partner of Lightspeed VII).
F10Includes 30,352 restricted stock units (RSUs), each of which represents the right to receive, following vesting, one share of Common Stock of Aerohive Networks. 100% of the RSUs shall vest on the earlier of (a) the one-year anniversary of the grant date, (b) the date immediately preceding the Aerohive Networks 2019 Annual Meeting of Stockholders, subject to the Participant continuing through such date to be a Service Provider, or (c) upon a Change in Control (as that term is defined in the Company's 2014 Equity Incentive Plan).
F2Lightspeed Ultimate General Partner VII, Ltd. is the sole general partner of Lightspeed General Partner VII, L.P. ("LGP VII"), which is the sole general partner of Lightspeed Venture Partners VII, L.P. ("Lightspeed VII"). The individual directors of Lightspeed Ultimate General Partner VII, Ltd. are Christopher J. Schaepe, Barry Eggers, Ravi Mhatre and Peter Nieh. Messrs. Schaepe, Eggers, Mhatre, and Nieh disclaim their beneficial ownership of the shares except to the extent of their pecuniary interest therein.
F3The shares are held of record by Lightspeed VII.
F4The shares are held of record by LGP VII.
F5Represents in-kind distribution by LGP VII without consideration to its partners (including Messrs. Schaepe, Eggers, Mhatre, and Nieh).
F6The shares are held of record by The Schaepe-Chiu Living Trust Dated November 5, 1997, for which Christopher J. Schaepe serves as co-trustee.
F7These sales were executed in multiple trades at prices ranging from $3.40 to $3.555. The price reported above reflects the weighted average sale price. Mr. Schaepe hereby undertakes to provide full information regarding the number of shares and prices at which these sales were effected, upon request, to the staff of the Securities and Exchange Commission, the Issuer or a security holder of the Issuer.
F8Lightspeed Ultimate General Partner VIII, Ltd. is the sole general partner of Lightspeed General Partner VIII, L.P. ("LGP VIII"), which is the sole general partner of Lightspeed Venture Partners VIII, L.P. ("Lightspeed VIII"). The individual directors of Lightspeed Ultimate General Partner VIII, Ltd. are Christopher J. Schaepe, Barry Eggers, Ravi Mhatre and Peter Nieh. Messrs. Schaepe, Eggers, Mhatre, and Nieh disclaim their beneficial ownership of the shares except to the extent of their pecuniary interest therein.
F9These sales were executed in multiple trades at prices ranging from $3.36 to $3.51. The price reported above reflects the weighted average sale price. Mr. Schaepe hereby undertakes to provide full information regarding the number of shares and prices at which these sales were effected, upon request, to the staff of the Securities and Exchange Commission, the Issuer or a security holder of the Issuer.