Fortinet, Inc. — Director's Dealing 2023

Dec 14, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Fortinet, Inc. (FTNT)
CIK: 0001262039
Period of Report: 2023-12-12

Reporting Person: Xie Ken (Director, President & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-12-12	Common Stock	M	83333	$7.45	Acquired	48432116	Direct
2023-12-12	Common Stock	S	5851	$53.8759	Disposed	48426265	Direct
2023-12-12	Common Stock	S	36331	$55.0083	Disposed	48389934	Direct
2023-12-12	Common Stock	S	5270	$55.5205	Disposed	48384664	Direct
2023-12-13	Common Stock	M	83334	$7.45	Acquired	48467998	Direct
2023-12-13	Common Stock	S	47306	$55.2216	Disposed	48420692	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-12-12	Nonqualified Stock Option (right to buy)	$7.45	M	83333	Disposed	2024-02-16	Common Stock (83333)	Direct
2023-12-13	Nonqualified Stock Option (right to buy)	$7.45	M	83334	Disposed	2024-02-16	Common Stock (83334)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	7500000	Indirect
Common Stock	7500000	Indirect

Footnotes

F1: The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on September 8, 2023.

F2: Represents the weighted average sale price. The lowest price at which shares were sold was $53.42 and the highest price at which shares were sold was $54.39. 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 (5) to this Form 4.

F3: Represents the weighted average sale price. The lowest price at which shares were sold was $54.43 and the highest price at which shares were sold was $55.42.

F4: Represents the weighted average sale price. The lowest price at which shares were sold was $55.43 and the highest price at which shares were sold was $55.62.

F5: Represents the weighted average sale price. The lowest price at which shares were sold was $54.68 and the highest price at which shares were sold was $55.51.

F6: These securities are held by a grantor retained annuity trust for the benefit of the Reporting Person.

F7: These securities are held by a grantor retained annuity trust for the benefit of the Reporting Person's spouse.

F8: The options are fully vested.