SEC Form 4 · accession 0001372414-17-000040
AEROHIVE NETWORKS, INC · HIVE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John Ritchie
Officer — SVP, CFO & COO
Period of report
Jun 1, 2017
Accepted (ET)
Jun 2, 2017 · 6:14 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,F2 | Jun 1, 2017 | A | 85,000 | $0.00 | A | 267,469 | D | |
| Common StockF3 | Jun 1, 2017 | F | 3,994 | $4.99 | D | 263,475 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Common StockF4 | $0.00 | Jun 1, 2017 | A | 85,000 | A | — | Jun 1, 2020 | Common Stock | 85,000 | 85,000 | D |
Explanation of responses
- F1Each 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, 2017 and the last quarterly vesting occurring as of June 1, 2020, subject to the Reporting Person continuing as a service provider through each such date.
- F2Includes 3,928 shares the Reporting Person acquired on June 1, 2017 under the Aerohive Networks 2014 Employee Stock Purchase Plan
- F3In 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 the Company's estimate of the Reporting Person's minimum statutory tax withholding requirement arising from the vesting of such shares under a previously reported award of restricted stock units.
- F4Each 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 per share of the Issuer's Common Stock.