Fortinet, Inc. — Director's Dealing 2018

Nov 5, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FORTINET INC (FTNT)
CIK: 0001262039
Period of Report: 2018-11-01

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-11-01	Common Stock	M	2500	—	Acquired	6532500	Direct
2018-11-01	Common Stock	M	2500	—	Acquired	6535000	Direct
2018-11-01	Common Stock	M	2500	—	Acquired	6537500	Direct
2018-11-01	Common Stock	F	3720	$83.69	Disposed	6533780	Direct
2018-11-01	Common Stock	S	8655	$80.2772	Disposed	6525125	Direct
2018-11-01	Common Stock	S	24303	$81.4956	Disposed	6500822	Direct
2018-11-01	Common Stock	S	17732	$82.4568	Disposed	6483090	Direct
2018-11-01	Common Stock	S	19310	$83.3727	Disposed	6463780	Direct
2018-11-02	Common Stock	S	1100	$72.1864	Disposed	6462680	Direct
2018-11-02	Common Stock	S	880	$73.097	Disposed	6461800	Direct
2018-11-02	Common Stock	S	600	$74.0683	Disposed	6461200	Direct
2018-11-02	Common Stock	S	300	$75.4733	Disposed	6460900	Direct
2018-11-02	Common Stock	S	200	$76.495	Disposed	6460700	Direct
2018-11-02	Common Stock	S	500	$77.448	Disposed	6460200	Direct
2018-11-02	Common Stock	S	200	$79.83	Disposed	6460000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-11-01	Restricted Stock Units	$0	M	2500	Disposed		Common Stock (2500)	Direct
2018-11-01	Restricted Stock Units	$0	M	2500	Disposed		Common Stock (2500)	Direct
2018-11-01	Restricted Stock Units	$0	M	2500	Disposed		Common Stock (2500)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1991686	Indirect
Common Stock	3708314	Indirect

Footnotes

F1: Vesting of restricted stock units ("RSUs") granted to the Reporting Person on February 11, 2015.

F2: Vesting of RSUs granted to the Reporting Person on February 11, 2016.

F3: Vesting of RSUs granted to the Reporting Person on February 16, 2017.

F4: 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 and PSUs.

F5: The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan previously adopted by the Reporting Person.

F6: Represents the aggregate of sales effected on the same day at different prices

F7: Represents the weighted average sales price per share. The shares sold at prices ranging from $79.93 to $80.92 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 $80.93 to $81.92 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: Represents the weighted average sales price per share. The shares sold at prices ranging from $81.93 to $82.92 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.

F10: Represents the weighted average sales price per share. The shares sold at prices ranging from $82.93 to $83.64 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.

F11: Represents the weighted average sales price per share. The shares sold at prices ranging from $71.58 to $72.54 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.

F12: Represents the weighted average sales price per share. The shares sold at prices ranging from $72.62 to $73.60 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.

F13: Represents the weighted average sales price per share. The shares sold at prices ranging from $73.68 to $74.44 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.

F14: Represents the weighted average sales price per share. The shares sold at prices ranging from $74.83 to $75.80 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.

F15: Represents the weighted average sales price per share. The shares sold at prices ranging from $76.02 to $76.97 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.

F16: Represents the weighted average sales price per share. The shares sold at prices ranging from $77.22 to $78.05 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.

F17: Shares held directly by the 2010 K.A. Family Trust dated May 3, 2010, for which the Reporting Person serves as a trustee.

F18: Shares held directly by The K.A. Children's Trust dated February 9, 2011, for which the Reporting Person serves as a trustee.

F19: Each RSU represents a contingent right to receive one share of the Issuer's common stock.

F20: 25% of the RSUs vest on February 1, 2016, 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.

F21: 25% of the RSUs vest on February 1, 2017, 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.

F22: 25% of the RSUs vest on February 1, 2018, 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.