Fortinet, Inc. — Director's Dealing 2020

Feb 4, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Fortinet, Inc. (FTNT)
CIK: 0001262039
Period of Report: 2020-02-01

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-02-01	Common Stock	M	938	—	Acquired	5267	Direct
2020-02-01	Common Stock	M	1250	—	Acquired	6517	Direct
2020-02-01	Common Stock	M	1250	—	Acquired	7767	Direct
2020-02-01	Common Stock	M	3928	—	Acquired	11695	Direct
2020-02-01	Common Stock	F	2598	$115.36	Disposed	9097	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-02-01	Restricted Stock Units	$0	M	938	Disposed		Common Stock (938)	Direct
2020-02-01	Restricted Stock Units	$0	M	1250	Disposed		Common Stock (1250)	Direct
2020-02-01	Restricted Stock Units	$0	M	1250	Disposed		Common Stock (1250)	Direct
2020-02-01	Restricted Stock Units (Common Stock)	$0.00	M	3928	Disposed		Common Stock (3928)	Direct

Footnotes

F1: Vesting of restricted stock units ("RSUs") previously granted to the Reporting Person.

F2: 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 row 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. The Reporting Person did not sell or otherwise dispose of any of the shares reported on this Form 4 for any reason other than to cover required taxes.

F3: Each RSU represents a contingent right to receive one share of the Issuer's common stock.

F4: 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.

F5: 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.

F6: 25% of the RSUs vest on February 1, 2019, 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.

F7: 25% of the RSUs vest on February 1, 2020, 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.