Fortinet, Inc. — Director's Dealing 2021

Feb 25, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Fortinet, Inc. (FTNT)
CIK: 0001262039
Period of Report: 2021-02-23

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-02-23	Common Stock	M	1251	$37.24	Acquired	2088	Direct
2021-02-23	Common Stock	M	2501	$49.06	Acquired	4589	Direct
2021-02-23	Common Stock	M	2947	$84.49	Acquired	7536	Direct
2021-02-23	Common Stock	S	600	$164.13	Disposed	6936	Direct
2021-02-23	Common Stock	S	1000	$165.30	Disposed	5936	Direct
2021-02-23	Common Stock	S	2000	$166.5275	Disposed	3936	Direct
2021-02-23	Common Stock	S	1699	$167.4717	Disposed	2237	Direct
2021-02-23	Common Stock	S	1400	$168.648	Disposed	837	Direct
2021-02-25	Common Stock	M	10185	$114.48	Acquired	11022	Direct
2021-02-25	Common Stock	S	600	$166.91	Disposed	10422	Direct
2021-02-25	Common Stock	S	4923	$168.111	Disposed	5499	Direct
2021-02-25	Common Stock	S	3667	$169.1617	Disposed	1832	Direct
2021-02-25	Common Stock	S	995	$169.8139	Disposed	837	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-02-23	Employee Stock Option (right to buy)	$37.24	M	1251	Disposed	2024-02-16	Common Stock (1251)	Direct
2021-02-23	Employee Stock Option (right to buy)	$49.06	M	2501	Disposed	2025-02-20	Common Stock (2501)	Direct
2021-02-23	Employee Stock Option (right to buy)	$84.49	M	2947	Disposed	2026-02-21	Common Stock (2947)	Direct
2021-02-25	Employee Stock Option (right to buy)	$114.48	M	10185	Disposed	2027-02-21	Common Stock (10185)	Direct

Footnotes

F1: The transactions 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 $163.74 and the highest price at which shares were sold was $164.59. 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) through (10) to this Form 4.

F3: Represents the weighted average sale price. The lowest price at which shares were sold was $164.96 and the highest price at which shares were sold was $165.85.

F4: Represents the weighted average sale price. The lowest price at which shares were sold was $166.07 and the highest price at which shares were sold was $166.77.

F5: Represents the weighted average sale price. The lowest price at which shares were sold was $167.17 and the highest price at which shares were sold was $168.08.

F6: Represents the weighted average sale price. The lowest price at which shares were sold was $168.27and the highest price at which shares were sold was $168.94.

F7: Represents the weighted average sale price. The lowest price at which shares were sold was $166.31 and the highest price at which shares were sold was $167.10.

F8: Represents the weighted average sale price. The lowest price at which shares were sold was $167.58 and the highest price at which shares were sold was $168.57.

F9: Represents the weighted average sale price. The lowest price at which shares were sold was $168.59 and the highest price at which shares were sold was $169.54.

F10: Represents the weighted average sale price. The lowest price at which shares were sold was $169.62 and the highest price at which shares were sold was $170.37.

F11: 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.

F12: 1/4 of the shares subject to the option vested on February 20, 2019 and 1/48 of the shares subject to the option will vest monthly thereafter, subject to the Reporting Person's provision of service to the Issuer on each vesting date.

F13: 1/4 of the shares subject to the option vested on February 21, 2020 and 1/48 of the shares subject to the option will vest monthly thereafter, subject to the Reporting Person's provision of service to the Issuer on each vesting date.

F14: 1/4 of the shares subject to the option will vest on February 21, 2021, and 1/48 of the shares subject to the option will vest monthly thereafter, subject to the Reporting Person's provision of service to the Issuer on each vesting date.