Aerohive Networks, Inc. (NYSE:HIVE) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Aerohive Networks, Inc. (NYSE:HIVE) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02

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Compensatory Arrangements of Certain Officers.

On March26, 2019, and in conjunction with its annual compensation review process, the Compensation Committee (the “Committee”) of the Board of Directors (the “Board”) of Aerohive Networks, Inc. (the “Company”) approved certain adjustments to the annual base salary and cash incentive-based compensation for each of the Company’s 2018 named executive officers, as set forth in the chart below.

In making its determinations to make these adjustments, the Committee considered the peer group benchmarking analysis provided by its consultant as well as the respective performance, responsibilities of and further contributions expected from each named executive officer.

These changes subject to finalization of documentation, will become effective on April 1, 2019, without further Committee action.

Adjustments to 2019 Base Compensation and Target Cash Incentive-based Compensation

Name

2019 Annual

Base Salary ($)

2019Target

Incentive

Amount ($)

Mr. Flynn, President & C.E.O……………………………………………………….

$380,000

$376,200

Mr. Ritchie, Senior Vice President, C.F.O. & C.O.O………………………..

$365,000

$216,700

Mr. Amrod, Senior Vice President, Products & Sales……………………….

$365,000

$216,700

About Aerohive Networks, Inc. (NYSE:HIVE)

Aerohive Networks, Inc., together with its subsidiaries, is engaged in designing and development of a cloud-managed mobile networking platform that enables enterprises to deploy a mobile-centric network edge. The Company’s portfolio of products and solutions is built around sets of technologies and capabilities, which include Enterprise Cloud Networking, Wireless Fidelity (Wi-Fi) Connectivity and Application and Insights. The Company conducts its business in the Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific (APAC). Its product portfolio includes hardware products, cloud-based network management and applications, and support services. Its hardware products include access points, branch routers and access switches. Its hardware products are developed by its hardware design team working in conjunction with original design manufacturer (ODM) partners, and leverage the commercially available Wi-Fi radios, network processors, crypto accelerators and switching chips.

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