UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | SEC 1473 (7-02) | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. |
1. Title of Derivative Security (Instr. 4) |
2. Date Exercisable and Expiration Date (Month/Day/Year) |
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) |
4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) |
6. Nature of Indirect Beneficial Ownership (Instr. 5) |
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Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
Employee Stock Option (right to buy) | Â (2) | 07/18/2022 | Common Stock | 200,000 | $ 2.275 | D | Â |
Employee Stock Option (right to buy) | Â (3) | 06/11/2023 | Common Stock | 20,000 | $ 6 | D | Â |
Employee Stock Option (right to buy) | Â (4) | 09/30/2023 | Common Stock | 20,000 | $ 9.575 | D | Â |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Gernez Raphael C/O AEROHIVE NETWORKS, INC. 330 GIBRALTAR DRIVE SUNNYVALE, CA 94089 |
 |  |  SVP Operations & Business PMO |  |
/s/ Daybeth Cordoba, by power of attorney | 02/06/2015 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 5(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | Represents a grant originally in the amount of 40,000 restricted stock units (RSUs), 5,000 shares of which have vested as of the date of the filing, less 1,879 shares remitted to the Issuer in connection with the satisfaction of tax obligations . Each RSU represents the contingent right to receive, following vesting, one share of Common Stock of Aerohive Networks. The remaining 35,000 shares subject to the grant will vest as to 5,000 shares per quarter in seven equal installments as of March 1, June 1, September 1 and December 1 of each year, with the first quarterly vesting occurring as of March 1, 2015 and the last quarterly vesting occurring as of September 1, 2016. |
(2) | The option is subject to an early exercise provision and is immediately exercisable. One-fourth of the shares subject to the option vested on July 18, 2013 and one forty-eighth of the shares vest monthly thereafter. |
(3) | The option is subject to an early exercise provision and is immediately exercisable. One-fourth of the shares subject to the option vested on April 18, 2014 and one forty-eighth of the shares vest monthly thereafter. |
(4) | 50% of the shares subject to the option vest on March 28, 2016 and one twenty-fourth of the remaining shares vest monthly thereafter. |
 Remarks: Exhibit 24 - Power of Attorney |