13D Filing: Discovery Group I, LLC and Aerohive Networks Inc (HIVE)

Page 5 of 7 – SEC Filing

The transactions in Common Stock effected by the Reporting Persons
since those reported in the Schedule 13D filed by the Reporting Persons on May 11, 2017 are set out in Exhibit 1 hereto.

No person other than Discovery
Equity Partners
is known to any Reporting Person to have the right to receive or the power to direct the receipt of dividends
from, or the proceeds from the sale of, any of the shares of Common Stock reported herein.

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

Item 6 of the Schedule 13D is hereby amended to read in its entirety
as follows:

There are no contracts, arrangements,
understandings or relationships (legal or otherwise) between or among any of the Reporting Persons and any other person with respect
to any securities of the Company other than the governing documents of Discovery Group and Discovery Equity Partners,
the
margin loan facilities referred to under Item 3 above, the Joint Filing Agreements of the Reporting Persons with respect to the
Schedule 13D that were included as exhibits thereto, the Joint Filing Agreement of the Reporting Persons with respect to this Amendment
No. 5 included as Exhibit 2 to this Amendment No. 5, and the Power of Attorney granted by Michael R. Murphy with respect
to reports under Section 13 of the Securities Exchange Act of 1934, as amended, which Power of Attorney is included as Exhibit
3
to this Amendment No. 5.

Item 7. Material to Be Filed as Exhibits
Exhibit 1:               List of transactions effected by the Reporting Persons in the Company’s Common Stock since those reported in the Schedule 13D filed by the Reporting Persons on May 11, 2017.
Exhibit 2:               Joint Filing Agreement dated as of May 22, 2017, by and between Discovery Equity Partners and Discovery Group.
Exhibit 3:               Power of Attorney of Michael R. Murphy, dated as of April 28, 2008.

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