SEC Form 4 · accession 0001372414-19-000014
AEROHIVE NETWORKS, INC · HIVE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Stephen Debenham
Officer — VP, Gen. Counsel & Secretary
Period of report
Mar 1, 2019
Accepted (ET)
Mar 5, 2019 · 5:31 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 StockF1 | Mar 1, 2019 | F | 6,298 | $5.09 | D | 289,838 | D | |
| Common StockF2 | Mar 1, 2019 | M | 2,336 | $0.00 | A | 292,174 | D | |
| Common StockF1 | Mar 1, 2019 | F | 807 | $5.09 | D | 291,367 | D | |
| Common StockF3,F4 | Mar 4, 2019 | S | 12,960 | $4.7338 | D | 278,407 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance Stock UnitsF2 | $0.00 | Mar 1, 2019 | A | 2,336 | A | Mar 1, 2019 | Mar 1, 2019 | Common Stock | 2,336 | 2,336 | D |
| Performance Stock Units | $0.00 | Mar 1, 2019 | M | 2,336 | D | Mar 1, 2019 | Mar 1, 2019 | Common Stock | 2,336 | 0 | 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 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.
- F2The shares subject to the performance-based RSU grant became eligible to vest as of March 1, 2019 based on the Company's achievement of GAAP revenue for its fiscal year 2018 relative to the Company's target revenue for the period, which target the Company's Board of Directors approved at its meeting on January 30, 2018.
- F3This transaction was made pursuant to a plan intended to comply with rule 10b5-1(c) previously entered into on August 22, 2018.
- F4Price represents the weighted average sale price for the transaction reported. Price range of shares sold is $4.59 through $5.06. Reporting person undertakes to provide upon request by the SEC staff or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.