Fortinet, Inc. — Director's Dealing 2014

Nov 4, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FORTINET INC (FTNT)
CIK: 0001262039
Period of Report: 2014-11-01

Reporting Person: Xie Michael (Director, VP, Engineering & CTO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-11-01	Common Stock	M	1042	—	Acquired	6567442	Direct
2014-11-01	Common Stock	M	2500	—	Acquired	6569942	Direct
2014-11-01	Common Stock	F	1332	$26.05	Disposed	6568610	Direct
2014-11-04	Common Stock	S	2210	$26.21	Disposed	6566400	Direct
2014-11-04	Common Stock	S	25000	$26.375	Disposed	6541400	Direct
2014-11-04	Common Stock	M	50000	$3.735	Acquired	6591400	Direct
2014-11-04	Common Stock	S	50000	$26.3781	Disposed	6541400	Direct
2014-11-04	Common Stock	S	20000	$26.3887	Disposed	562488	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-11-01	Restricted Stock Units	$0	M	1042	Disposed		Common Stock (1042)	Direct
2014-11-01	Restricted Stock Units	$0	M	2500	Disposed		Common Stock (2500)	Direct
2014-11-04	Non-qualified stock option (right to buy)	$3.735	M	50000	Disposed	2015-02-07	Common Stock (50000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2668756	Indirect
Common Stock	2668756	Indirect

Footnotes

F1: Vesting of restricted stock units ("RSUs") granted to the Reporting Person on August 8, 2012.

F2: Vesting of RSUs granted to the Reporting Person on February 13, 2013.

F3: Exempt transaction pursuant to Section 16b-3(e) - payment of exercise price or tax liability by delivering or withholding securities incident to the receipt, exercise or vesting of a security issued in accordance with Rule 16b-3. All of the shares reported as disposed of on this line were relinquished by the Reporting Person and cancelled by the Issuer in exchange for the Issuer's agreement to pay federal and state tax withholding obligations of the Reporting Person resulting from the vesting of RSUs.

F4: The transaction reported on this line was effected pursuant to Rule 10b5-1 trading plans adopted by the Reporting Person.

F5: Represents the aggregate of sales effected on the same day at different prices.

F6: Represents the weighted average sales price per share. The shares sold at prices ranging from $26.05 to $26.49 per share. Full information regarding the number of shares sold at each price shall be provided upon request to the staff of the U.S. Securities and Exchange Commission, the Issuer, or a security holder of the Issuer.

F7: Represents the weighted average sales price per share. The shares sold at prices ranging from $26.06 to $26.49 per share. Full information regarding the number of shares sold at each price shall be provided upon request to the staff of the U.S. Securities and Exchange Commission, the Issuer, or a security holder of the Issuer.

F8: Represents the weighted average sales price per share. The shares sold at prices ranging from $26.13 to $26.53 per share. Full information regarding the number of shares sold at each price shall be provided upon request to the staff of the U.S. Securities and Exchange Commission, the Issuer, or a security holder of the Issuer.

F9: Shares held directly by The K.A. Children's Trust dated February 9, 2011, for which the Reporting Person serves as a trustee.

F10: Shares held directly by the 2014 Michael Xie Grantor Retained Annuity Trust dated March 6, 2014, for which the Reporting Person serves as a trustee.

F11: Shares held directly by the 2014 Danke Wu Grantor Retained Annuity Trust dated March 6, 2014, for which the Reporting Person serves as a trustee.

F12: Each RSU represents a contingent right to receive one share of the Issuer's common stock.

F13: 25% of the RSUs vested on August 1, 2013, then the remaining 75% of the RSUs vest in equal installments on each quarterly anniversary thereafter, until such time as the RSUs are 100% vested, subject to the continuing employment of the Reporting Person on each vesting date. Shares of the Issuer's common stock will be delivered to the Reporting Person upon vesting.

F14: 25% of the RSUs vested on February 1, 2014, then the remaining 75% of the RSUs vest in equal installments on each quarterly anniversary thereafter, until such time as the RSUs are 100% vested, subject to the continuing employment of the Reporting Person on each vesting date. Shares of the Issuer's common stock will be delivered to the Reporting Person upon vesting.

F15: The option is 100% vested and exercisable.