Fortinet, Inc. — Director's Dealing 2021

Feb 22, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Fortinet, Inc. (FTNT)
CIK: 0001262039
Period of Report: 2021-02-18

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-02-18	Common Stock	S	700	$164.70	Disposed	4487	Direct
2021-02-18	Common Stock	S	1201	$165.5587	Disposed	3286	Direct
2021-02-18	Common Stock	S	600	$166.225	Disposed	2686	Direct
2021-02-18	Common Stock	S	1849	$167.7108	Disposed	837	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-02-19	Restricted Stock Units	$0.00	A	12781	Disposed		Common Stock (12781)	Direct
2021-02-19	Employee Stock Option (right to buy)	$171.93	A	38343	Disposed	2028-02-19	Common Stock (38343)	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 $164.00 and the highest price at which shares were sold was $165.00. 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), (4) and (5) to this Form 4.

F3: Represents the weighted average sale price. The lowest price at which shares were sold was $165.02 and the highest price at which shares were sold was $165.99.

F4: Represents the weighted average sale price. The lowest price at which shares were sold was $166.03 and the highest price at which shares were sold was $166.62.

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 $168.12.

F6: Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.

F7: 25% of the RSUs will vest on February 1, 2022, and the remaining 75% of the RSUs will vest in equal installments on each quarterly anniversary thereafter, until such time as the RSUs are 100% vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date. Shares of the Issuer's common stock will be delivered to the Reporting Person upon vesting.

F8: RSUs do not expire; they either vest or are canceled prior to the vesting date.

F9: 1/4 of the shares subject to the option will vest on February 19, 2022, 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.