SEC Form 4 · accession 0001372414-18-000013

AEROHIVE NETWORKS, INC · HIVE

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

Reporting owner

Officer — VP, Gen. Counsel & Secretary

Period of report

Mar 1, 2018

Accepted (ET)

Mar 5, 2018 · 8:46 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
Common Stock^F1	Mar 1, 2018	F	4,861	$4.35	D	224,662	D
Common Stock	Mar 1, 2018	M	17,500	$0.00	A	242,162	D
Common Stock^F1	Mar 1, 2018	F	6,622	$4.35	D	235,540	D
Common Stock	Mar 1, 2018	M	15,221	$0.00	A	250,761	D
Common Stock^F1	Mar 1, 2018	F	5,180	$4.35	D	245,581	D
Common Stock	Mar 1, 2018	M	5,375	$0.00	A	250,956	D
Common Stock^F1	Mar 1, 2018	F	1,859	$4.35	D	249,097	D

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Performance Stock Units^F2	$0.00	Mar 1, 2018	A	17,500	A	Mar 1, 2018	Mar 1, 2018	Common Stock	17,500	17,500	D
Performance Stock Units^F2	$0.00	Mar 1, 2018	M	17,500	D	Mar 1, 2018	Mar 1, 2018	Common Stock	17,500	0	D
Performance Stock Units^F2	$0.00	Mar 1, 2018	A	15,221	A	Mar 1, 2018	Mar 1, 2018	Common Stock	15,221	15,221	D
Performance Stock Units^F2	$0.00	Mar 1, 2018	M	15,221	D	Mar 1, 2018	Mar 1, 2018	Common Stock	15,221	0	D
Performance Stock Units^F3	$0.00	Mar 1, 2018	M	5,375	D	Mar 1, 2018	Jun 1, 2020	Common Stock	5,375	37,625	D

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 the Company's estimate of the Reporting Person's minimum statutory tax withholding requirement arising from the vesting of such shares under previously reported awards of restricted stock units.
F2The shares subject to the performance-based RSU grant became eligible to vest as of March 1, 2018 based on the Company's achievement of GAAP revenue for its fiscal year 2017 relative to the Company's target revenue for the period, which target the Company's Board of Directors approved at its meeting on February 1, 2017.
F350% of the shares subject to the grant became eligible to vest as of December 19, 2017, when the 20-day, average trailing-closing-price for the Company's Common Stock as reported by NYSE exceeded $5.50 per share. Under the terms of the grant, such shares will be delivered to the Reporting Person in four equal installments as of each of March 1, June 1, September 1 and December 1, 2018, subject to the Reporting Person continuing as a service provider to the Company as of such respective dates.