SEC Form 4 · accession 0001372414-16-000084
AEROHIVE NETWORKS, INC · HIVE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Efstathios Papaefstathiou
Officer — SVP, Engineering
Period of report
Jun 1, 2016
Accepted (ET)
Jun 3, 2016 · 7:47 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, 2016 | F | 5,168 | $6.29 | D | 162,066 | D | |
| Common StockF2 | Jun 1, 2016 | A | 30,000 | $0.00 | A | 192,066 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Common StockF3 | $0.00 | Jun 1, 2016 | A | 30,000 | A | — | Jun 1, 2019 | Common Stock | 30,000 | 30,000 | D |
| Employee Stock OptionF4 | $6.26 | Jun 1, 2016 | A | 60,000 | A | — | Jun 1, 2026 | Common Stock | 60,000 | 60,000 | D |
Explanation of responses
- F1In an exempt disposition to the Issuer under rule 16b-3(e), the Issuer withheld shares otherwise to be delivered to the Reporting Person 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 the Issuer's Common Stock.The shares will vest ratably in twelve equal quarterly installments as of March 1, June 1, September 1, and December 1 of each year, with the first quarterly vesting occurring as of September 1, 2016 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.
- F3Each restricted stock unit (RSU) represents the contingent right to receive, following vesting, one share of the Issuer's Common Stock.The performance-based award is subject to achievement of specified stock price appreciation goals based on the trailing 20-day average closing share price of the Issuer's Common Stock.
- F4The shares subject to each award will vest ratably in 36 equal monthly installments, with the first monthly vesting occurring as of July 1, 2016 and the last monthly vesting occurring as of June 1, 2019, subject to the Reporting Person continuing as a service provider through each such date.