Fortinet, Inc. — Director's Dealing 2022

Feb 28, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Fortinet, Inc. (FTNT)
CIK: 0001262039
Period of Report: 2022-02-24

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-02-24	Common Stock	M	2501	$49.06	Acquired	3384	Direct
2022-02-24	Common Stock	M	2947	$84.49	Acquired	6331	Direct
2022-02-24	Common Stock	M	2547	$114.48	Acquired	8878	Direct
2022-02-24	Common Stock	M	9585	$171.93	Acquired	18463	Direct
2022-02-24	Common Stock	S	600	$277.6517	Disposed	17863	Direct
2022-02-24	Common Stock	S	369	$279.6223	Disposed	17494	Direct
2022-02-24	Common Stock	S	415	$282.0877	Disposed	17079	Direct
2022-02-24	Common Stock	S	300	$283.41	Disposed	16779	Direct
2022-02-24	Common Stock	S	100	$285.15	Disposed	16679	Direct
2022-02-24	Common Stock	S	200	$287.37	Disposed	16479	Direct
2022-02-24	Common Stock	S	200	$288.34	Disposed	16279	Direct
2022-02-24	Common Stock	S	800	$290.39	Disposed	15479	Direct
2022-02-24	Common Stock	S	200	$290.885	Disposed	15279	Direct
2022-02-24	Common Stock	S	172	$293.6326	Disposed	15107	Direct
2022-02-24	Common Stock	S	300	$295.35	Disposed	14807	Direct
2022-02-24	Common Stock	S	800	$296.83	Disposed	14007	Direct
2022-02-24	Common Stock	S	606	$297.6608	Disposed	13401	Direct
2022-02-24	Common Stock	S	100	$300.09	Disposed	13301	Direct
2022-02-24	Common Stock	S	600	$301.4733	Disposed	12701	Direct
2022-02-24	Common Stock	S	1200	$302.5267	Disposed	11501	Direct
2022-02-24	Common Stock	S	700	$303.9414	Disposed	10801	Direct
2022-02-24	Common Stock	S	500	$304.964	Disposed	10301	Direct
2022-02-24	Common Stock	S	1724	$305.9202	Disposed	8577	Direct
2022-02-24	Common Stock	S	600	$306.8517	Disposed	7977	Direct
2022-02-24	Common Stock	S	298	$307.8313	Disposed	7679	Direct
2022-02-24	Common Stock	S	500	$308.944	Disposed	7179	Direct
2022-02-24	Common Stock	S	443	$310.5711	Disposed	6736	Direct
2022-02-24	Common Stock	S	500	$311.672	Disposed	6236	Direct
2022-02-24	Common Stock	S	611	$312.3389	Disposed	5625	Direct
2022-02-24	Common Stock	S	1615	$313.6812	Disposed	4010	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2022-02-24	Stock Option (right to buy)	$49.06	M	2501	Disposed	2025-02-20	Common Stock (2501)	Direct
2022-02-24	Stock Option (right to buy)	$84.49	M	2947	Disposed	2026-02-21	Common Stock (2947)	Direct
2022-02-24	Stock Option (right to buy)	$114.48	M	2547	Disposed	2027-02-21	Common Stock (2547)	Direct
2022-02-24	Stock Option (right to buy)	$171.93	M	9585	Disposed	2028-02-19	Common Stock (9585)	Direct

Footnotes

F1: The reported transaction was 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 $277.51 and the highest price at which shares were sold was $278.20. The Reporting Person undertakes to provide upon request to the staff of the Securities and 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 (25) to this Form 4.

F3: Represents the weighted average sale price. The lowest price at which shares were sold was $279.27 and the highest price at which shares were sold was $280.00.

F4: Represents the weighted average sale price. The lowest price at which shares were sold was $281.76 and the highest price at which shares were sold was $282.36.

F5: Represents the weighted average sale price. The lowest price at which shares were sold was $283.32 and the highest price at which shares were sold was $283.59.

F6: Represents the weighted average sale price. The lowest price at which shares were sold was $287.13 and the highest price at which shares were sold was $287.61.

F7: Represents the weighted average sale price. The lowest price at which shares were sold was $288.24 and the highest price at which shares were sold was $288.44.

F8: Represents the weighted average sale price. The lowest price at which shares were sold was $289.84 and the highest price at which shares were sold was $290.79.

F9: Represents the weighted average sale price. The lowest price at which shares were sold was $290.85 and the highest price at which shares were sold was $290.92.

F10: Represents the weighted average sale price. The lowest price at which shares were sold was $293.15 and the highest price at which shares were sold was $293.98.

F11: Represents the weighted average sale price. The lowest price at which shares were sold was $295.02 and the highest price at which shares were sold was $295.58.

F12: Represents the weighted average sale price. The lowest price at which shares were sold was $296.18 and the highest price at which shares were sold was $297.14.

F13: Represents the weighted average sale price. The lowest price at which shares were sold was $297.21 and the highest price at which shares were sold was $298.08.

F14: Represents the weighted average sale price. The lowest price at which shares were sold was $301.10 and the highest price at which shares were sold was $302.06.

F15: Represents the weighted average sale price. The lowest price at which shares were sold was $302.31 and the highest price at which shares were sold was $303.00.

F16: Represents the weighted average sale price. The lowest price at which shares were sold was $303.45 and the highest price at which shares were sold was $304.14.

F17: Represents the weighted average sale price. The lowest price at which shares were sold was $304.52 and the highest price at which shares were sold was $305.46.

F18: Represents the weighted average sale price. The lowest price at which shares were sold was $305.52 and the highest price at which shares were sold was $306.42.

F19: Represents the weighted average sale price. The lowest price at which shares were sold was $306.52 and the highest price at which shares were sold was $307.50.

F20: Represents the weighted average sale price. The lowest price at which shares were sold was $307.63 and the highest price at which shares were sold was $308.06.

F21: Represents the weighted average sale price. The lowest price at which shares were sold was $308.68 and the highest price at which shares were sold was $309.51.

F22: Represents the weighted average sale price. The lowest price at which shares were sold was $310.07 and the highest price at which shares were sold was $310.75.

F23: Represents the weighted average sale price. The lowest price at which shares were sold was $311.11 and the highest price at which shares were sold was $311.88.

F24: Represents the weighted average sale price. The lowest price at which shares were sold was $312.13 and the highest price at which shares were sold was $312.89.

F25: Represents the weighted average sale price. The lowest price at which shares were sold was $313.23 and the highest price at which shares were sold was $314.13.

F26: 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.

F27: 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.

F28: 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.

F29: 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.