Fortinet, Inc. — Director's Dealing 2020

Feb 12, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Fortinet, Inc. (FTNT)
CIK: 0001262039
Period of Report: 2020-02-11

Reporting Person: Jensen Keith (CFO & Chief Accounting Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-02-11	Common Stock	M	625	$23.83	Acquired	9722	Direct
2020-02-11	Common Stock	M	1250	$37.24	Acquired	10972	Direct
2020-02-11	Common Stock	M	2500	$49.06	Acquired	13472	Direct
2020-02-11	Common Stock	S	2466	$117.0436	Disposed	11006	Direct
2020-02-11	Common Stock	S	1179	$117.6956	Disposed	9827	Direct
2020-02-11	Common Stock	S	2450	$119.1727	Disposed	7377	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-02-11	Employee Stock Option (right to buy)	$23.83	M	625	Disposed	2023-02-11	Common Stock (625)	Direct
2020-02-11	Employee Stock Option (right to buy)	$37.24	M	1250	Disposed	2024-02-16	Common Stock (1250)	Direct
2020-02-11	Employee Stock Option (right to buy)	$49.06	M	2500	Disposed	2025-02-20	Common Stock (2500)	Direct

Footnotes

F1: The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan previously adopted by the Reporting Person.

F2: Represents the weighted average sale price. The lowest price at which shares were sold was $116.58 and the highest price at which shares were sold was $117.41. The reporting person undertakes to provide upon request to the staff of the Securities Exchange Commission, the issuer or its stockholders, full information regarding the total number of shares sold at each separate price within the ranges set forth in footnotes (2), (3) and (4) to this Form 4.

F3: Represents the weighted average sale price. The lowest price at which shares were sold was $117.64 and the highest price at which shares were sold was $117.79.

F4: Represents the weighted average sale price. The lowest price at which shares were sold was $118.81 and the highest price at which shares were sold was $119.60.

F5: 1/4 of the shares subject to the option vested on February 11, 2017 and 1/48 of the shares subject to the option vests monthly thereafter, subject to the Reporting Person's provision of service to the Issuer on each vesting date

F6: 1/4 of the shares subject to the option vested on February 16, 2018 and 1/48 of the shares subject to the option vests monthly thereafter, subject to the reporting person's provision of service to the issuer on each vesting date

F7: 1/4 of the shares subject to the option vest on February 20, 2019 and 1/48 of the shares subject to the option vest monthly thereafter, subject to the Reporting Person's provision of service to the Issuer on each vesting date.