SEC Form 4 · accession 0001372414-18-000014
AEROHIVE NETWORKS, INC · HIVE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David K. Flynn
Officer — President, CEO & Director · Director
Period of report
Mar 1, 2018
Accepted (ET)
Mar 5, 2018 · 8:48 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 StockF2 | Mar 1, 2018 | F | 4,786 | $4.35 | D | 193,321 | D | |
| Common Stock | Mar 1, 2018 | M | 49,329 | $0.00 | A | 242,650 | D | |
| Common StockF2 | Mar 1, 2018 | F | 17,058 | $4.35 | D | 225,592 | D | |
| Common StockF1 | holding | — | — | — | 1,345,427 | I | Flynn Living Trust |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance Stock UnitsF3 | $0.00 | Mar 1, 2018 | A | 49,329 | A | Mar 1, 2018 | Mar 1, 2018 | Common Stock | 49,329 | 49,329 | D |
| Performance Stock UnitsF3 | $0.00 | Mar 1, 2018 | M | 49,329 | D | Mar 1, 2018 | Mar 1, 2018 | Common Stock | 49,329 | 0 | D |
Explanation of responses
- F1The shares are held by David and Pamela Flynn co-ttees Flynn Living Trust dtd 07/22/99.
- F2In 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.
- F3The 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.