SEC Form 4 · accession 0001209191-15-049667
AEROHIVE NETWORKS, INC · HIVE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David K. Flynn
Officer — President and CEO · Director
Period of report
Jun 1, 2015
Accepted (ET)
Jun 3, 2015 · 4:54 pm EDT
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 StockF1 | Jun 1, 2015 | F | 5,638 | $7.15 | D | 743,642 | D | |
| Common StockF2,F3 | Jun 1, 2015 | A | 90,000 | $0.00 | A | 837,741 | D | |
| Common StockF4 | holding | — | — | — | 589,789 | I | See footnote |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (right to buy)F5 | $7.15 | Jun 1, 2015 | A | 550,000 | A | — | Jun 1, 2025 | Common Stock | 550,000 | 550,000 | D |
Explanation of responses
- F1In an exempt disposition to the Issuer under rule 16b-3(e), the Reporting Person remitted shares to the Issuer in connection with the satisfaction of tax withholding obligations arising out of the vesting of previously reported restricted stock units, or RSUs.
- F2Each restricted stock unit (RSU) represents the contingent right to receive, following vesting, one share of Common Stock of Aerohive Networks. The shares will vest ratably in sixteen equal quarterly installments as of September 1, December 1, March 1, and June 1 of each year, with the first quarterly vesting occurring as of September 1, 2015 and the last quarterly vesting occurring as of June 1, 2019, subject to the Reporting Person continuing as a service provider through each such date.
- F3Includes 4,099 shares acquired on June 1, 2015 under the Aerohive Networks 2014 Employee Stock Purchase Plan.
- F4The shares are held by the David Flynn 2012 Annuity Trust dated December 20, 2012, of which the Reporting Person is the trustee.
- F5One forty-eighth of the shares subject to the option vest on July 1, 2015 and monthly thereafter, subject to the Reporting Person continuing as a service provider through each such date.